Scoular is a company with over a century of experience in agriculture, providing reliable and diverse agricultural supply chain solutions. These solutions include buying, selling, storing, handling, and processing grain, feed, food, and pet food ingredients. Scoular operates in North America and Southeast Asia, with over 100 offices, grain elevators, and processing facilities, and employs more than 1,400 people.
About
Andrew Kenny, Chief Financial and Risk Officer
"As a rapidly growing company, with an international focus, Scoular must be proactive in managing our risks and exposures. The RadarRadar platform provides the visibility to manage those risks efficiently and effectively. The recent volatility in our markets and rapid pace of change in our industry confirmed we had selected the best partner in RadarRadar.”
Challenge
Due to Scoular's rapid growth, it was evident that trusted and advanced risk tools were necessary to cope with the increasing exposures to mitigate risks and boost performance. However, the company's risk reporting was limited to each legacy CTRM system, which did not provide common terminology, lacked capabilities to aggregate position data and the ability to perform holistic analyses.
Objective
Scoular needed advanced tools and controls in place to manage their risks by having an improved definition of their risk tolerance and capabilities to quantify and optimize their risk appetite. The objective was to improve their risk management capabilities using the Radar Technology, providing comprehensive data handling, data management (including master data mapping) and advanced risk reporting solutions.
Scoular partnered with RadarRadar in 2021 to streamline their risk analytics & reporting to help them successfully achieve significant growth.
Solution
RadarRadar started with an intensive consulting period to understand Scoular’s business challenges, their diversifying and growing portfolio and the data structures and reporting systems in place. The first step was to create a single source of truth for all Scoular’s commodity position data, integrating with all legacy CTRM platforms.
The second step was to explore and implement various risk and risk metric reports, including enterprise-wide position reports, position limit reports, and geographic and product-specific dashboards.
RadarRadar’s expertise and strong consultancy background combined with strong ownership on Scoular’s side made the project very efficient. The project only required 1-2 FTE’s from Scoular’s side and within just a few months a comprehensive data model with over 30 tailor-made position reports was delivered. Scoular is planning to utilize everything Radar technology has to offer, such as volumetric reporting, value at risk and stress testing.
Ryan Kunkel, Risk Manager
“RadarRadar offers a robust foundation and commodity specific platform. Our team is able to consolidate our risk reporting regardless of source system, unit of measure, country of operation, creating a recipe for success as we execute our growth strategy.”
Results
Improved interdisciplinary collaboration
Creating one common language used by the commercial, risk and finance teams, which limits misinterpretations and builds knowledge throughout the organization
Daily time saving of 1-2 hours
The efficient and automated reporting tool reduces significant time to gather data and manually consolidate risk reporting by risk managers and product leads
Upgraded capabilities
RadarRadar’s agile platform gives the organization the ability to enhance its risk measurement, reporting, and monitoring capabilities through various modules and easily scale to new business ventures
