VON ALM is a company with a global footprint managing the delivery of agricultural commodities worldwide. They trade and source commodities like cocoa beans and focus on supply chain value addition; from the farmers who are the first point in the supply chain to the refinery which is the last point of the supply chain. Understanding the regional changes and its impacts on a global scale helps them shape the global soft commodity market.
Addressing the Problem
There are a lot of online platforms that are made for selling products directly to the end customer. However, when it comes to niche products like worldwide delivery of cocoa beans, there weren't many trustworthy platforms using which the refineries could get their raw material from the farmers. This was the basic problem that the client was ambitious to solve by an online marketplace to globalize the purchase of quality commodities.
The Creole Process
Von Alm is a complex application with various types of trading calculations. The client had a brief idea about the application but did not have any concrete strategy to build the application successfully. The Creole team had extensive discussions with the client over a period of one month to understand his business in and out. During those discussions, the Creole team helped the client to finalize the scope of the application and de-clutter all the thoughts he had regarding the application. Our team helped the client in getting the complex trading mechanism and calculation right as it is the heart of the application.
The Creole Solution and Key features
Our Team tailor built the mobile app from the ground up. The system contains two modules viz. the Mobile Application and the Admin Panel. The Admin has to approve the register request of the users, post which they can place Asks & Bids. The Mobile Application has two major modules: Prompt & Forward. The Prompt module carries out the regular trades whereas the Forward module carries out the future trades.
Prompt - The user (buyer/seller) can view the lowest Asks and highest Bids from the Market Overview, i.e. the landing page of the mobile application system. Data of all the markets they are a part of will be displayed here, and they can even see at what rate was the last trade performed for a market. The market overview also shows how much price more or less was the last traded order than the previous one. The features of placing a Market order and the Limit order are available for the buyer/seller. The system allows the buyer to select the bean type and the port of discharge and the prices will be displayed as set by the admin during admin approval. A dynamic chart displaying daily Settlement Prices on the different bean types and ports of discharge are present at the bottom of the screen.
Forward - For the Forward feature, the user has to select the bean type and port of discharge from the dropdown menu and on that basis, the Ask & Bid volume will be displayed to the user. The Price Wheel algorithm for Forwards will be the same as the Prompt. There is an added feature of Premium which adds a few additional charges as a premium for each Forward order placed. These premium charges are decided by the system admin. The user (buyer/seller) will view the Ask volume and Bid volume will be displayed the same as the Prompt screen based on the selected bean type and port of discharge. The unit of volume and currency would be displayed as in the Prompt. Forward also contains the Market order and Limit order function same as the Prompt.
Matrix Management - The Matrix allows the admin to manage currencies, volume units and its conversions which help to display the accurate rates to the buyer/seller after including/excluding various charges that they may need to bear. To make the matrix simple and understandable we used standard volume unit as metric ton and standard currency as USD throughout the admin panel.
Price Wheel - In the VON ALM mobile application system, there is an algorithm on which the marker order of the users are placed. For this algorithm, we brainstormed and discussed all the possible cases that may happen with any placed Ask or Bid within the system. The prices in the Price Wheel will be applicable to the Market Order and Limit Order of the Prompt module.