SOURCE: Triple Point Technology

Triple Point Technology

April 15, 2013 03:00 ET

Heineken Selects Triple Point Strategic Planning and Procurement Solution to Manage Commodity Price Volatility

Europe's Largest Brewer Standardizing on Triple Point to Support Global Commodity Procurement

LONDON--(Marketwired - Apr 15, 2013) - Triple Point Technology, the leading global provider of on-premise and in-cloud Commodity Management software, announced today that Heineken International has licensed its Commodity XL Strategic Planning and Procurement™ (SPP) solution to manage commodity risk exposure across its global operations.

Heineken International is Europe's largest brewer, and the world's second largest brewer by revenue. The company operates over 140 breweries, with 250+ brands distributed in more than 178 countries worldwide. Additional brands include Amstel, Birra Moretti, Dos Equis, Foster's, and Newcastle Brown Ale.

Heineken launched a strategic initiative to reduce supply cost volatility caused by price fluctuations in commodities such as barley, wheat, maize, diesel fuel, natural gas, bunker fuel, and aluminum. The company required a market-based solution for its Global Procurement group to minimize commodity risk exposure. Heineken selected Triple Point's SPP because it is the only procurement solution that provides real-time scenario analysis to reduce commodity price risk and decrease overall commodity expenditure.

Heineken also selected Commodity XL Strategic Planning and Procurement because of its superior ability to seamlessly integrate with SAP financial, logistics, inventory, and invoicing solutions. Triple Point is the only company with a solution endorsed by SAP in the commodity trading and risk management area.

"Triple Point was the obvious choice for Heineken because it demonstrated an unparalleled understanding of our commodity-related challenges," said Marc Bekkers, risk management director, Heineken International. "Commodity XL provides the required functionality for Heineken to support its strategic goal of reducing commodity volatility and controlling supply cost risk."

SPP uniquely enables food and beverage, process and industrial manufacturing, and consumer products companies to manage the commodity market risk inherent in the hundreds of items they buy from a multitude of suppliers -- all of which may have different cost component models. With SPP, companies can view, aggregate, and evaluate all cost models and conduct real-time, forward-looking scenario analysis as plans change and markets move. 

"Extreme, long term commodity volatility in today's markets means that companies require software solutions built specifically to manage raw material, packaging, and energy commodity price exposure," said Mike Ravo, senior vice president, industry solutions, Triple Point. "Heineken is a clear leader in the field of commodity risk management and we're honored to have them as a customer."

In support of its strategic initiative Heineken is also implementing Triple Point's flagship commodity contract lifecycle management solution, Commodity XL™, for end-to-end automated transaction processing and risk management. With Commodity XL, Heineken can capture and record physical commodity purchase contracts, manage inventory levels worldwide, optimize and manage the transfer of commodities via multiple modes of transportation, and automate back office functions including invoicing, cash forecasting, margin management, and financial settlement.

For more information on SPP, visit tpt.com/spp.

About Triple Point Technology
Triple Point Technology® is the leading global provider of cloud and on-premise Commodity Management software that delivers advanced analytics for optimizing end-to-end commodity and energy value chains. The company provides innovative solutions for managing all aspects of volatile commodity supply chains: trading, procurement, enterprise risk management, logistics, scheduling, storage/inventory, processing, settlement, and accounting. Over 400 customers in 35+ countries across industries including energy, metals, minerals, chemicals, agriculture, shipping, consumer products, food and beverage, retail, and manufacturing depend on Triple Point solutions. Triple Point was named a "Leader" in Gartner's ETRM Magic Quadrant in 2009, 2010, 2011, and 2012. The company employs over 850 staff in 15 offices and support centers worldwide. www.tpt.com.

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