“Farms Technology has been focused on delivering products that work in real world situations filling the niche between buyers and producers,” says Ben Zaitz, founder and president of the company.
“While many companies have spent millions upon millions of dollars attempting to "own" this space, at Farms Technology we have taken our original patentable grain procurement concept and developed an online application that really adds value to all parties. We’ve done this by listening very carefully to both buyer and producer needs and concerns, rather than trying to develop a system to serve the needs of a few corporate giants.”
"The success of the DPP online grain procurement system and the refinements which have been made with corn grower input gives us the confidence to offer the service to other buyers interested in improving efficiencies and customer service in their organization,” said Farms Technology CEO Jason Tatge.
“We are offering a proven technology that gives any buyer, large or small, wishing to improve office efficiencies and customer connectivity the opportunity to do so. The ease of industry acceptability and compatibility has always been a priority."
The DPP improves first-handle grain buyer’s communication and connectivity with their growers by offering online cash market transaction execution.
“This software enables buyers to manage grower firm offers in a manner that was simply too costly before the DPP,” said Tatge. “This software application fills an important niche between growers and buyers. Now growers have confidence of knowing that their firm offers are evaluated with every market move, in a neutral environment, while buyers are providing their growers with a service that makes them more accessible and efficient anytime day or night.
“The fact is, the markets don’t stop moving when growers call-in and are put on hold,” says Tatge.
Since the first commercial implementation in March, Jennie-O Turkey Store, Barron, Wis., has been successfully utilizing the new Internet corn procurement software program developed by Farms Technology, LLC.
The software allows corn growers to offer grain for sale online anytime day or night to Jennie-O Turkey Store and provides them instant price feedback in the form of live bids. Hundreds of thousands of bushels of corn have been transacted through the system over the past few months.
"The Farms Technology Dynamic Pricing Platform gives our approved grain suppliers the ability to place firm online offers to sell corn at anytime,” says Fran Felber, Jennie-O Turkey Store's feed ingredient purchasing manager. “This is a proven system which offers anyone in the procurement business a great opportunity to connect on another level with their suppliers.”
"I've completed a number of trades that I would have missed otherwise,” said Owatonna, Minn., corn grower Robert Swedberg. “I like being able to visit the site and make offers on my timetable (usually at night), and not having to wait until business hours to do so. I will use the DPP system for the majority of my sales.”
Tatge says the firm offers are assigned a basis and a futures month to be priced against. Then the DPP displays "real-time" bids to any producer who has placed a firm offer and when the bid and offer match the cash trade is executed, online.
"Now, producers have the ability to accept Jennie-O Turkey Store's bid, raise their own offer price or simply cancel their firm offers at anytime prior to when the selling price matches the buyer's bid," Tatge notes.
The DPP enables Jennie-O Turkey Store to provide additional cost-effective pricing information and online execution to grain suppliers 24 hours a day. Other DPP features include; local commentary from Jennie-O Turkey Store buyers, other market commentaries from various sources, unload conditions at the various delivery locations, historical cash and basis charts, and a current bid sheet after logging into the system.
"Forward-thinking agribusiness and food companies are offering online procurement systems to increase efficiencies for both the company and their producer suppliers," Tatge adds. "Jennie-0 Turkey Store is a leader in the food industry and Farms Technology is pleased they've selected our DPP online procurement platform to help service their buyers and their producers."
For further information on Farms Technology, LLC, and a demonstration of the DPP visit www.farmstech.com or call Jason Tatge at 1-913-310-0559.