Integrated Tea Trading System (ITTS) covers the entire process from post-harvest to its auctioning and payment integration. The system entails a suite of business applications with unique capabilities and standards required to facilitate and streamline all pre- auction tea trade transactions including the option of an electronic auction.
ITTS automates the standardized and secure B2B trade applications and e-auction capabilities and includes business applications for Producers, Brokers, Buyers, Warehouses and Banks to interact with the system and perform various tea trade functions and transactions. Adding to this, the tools for site management, content management, business process definition, and site administration, help build an end-to-end system that is dynamic and scalable as well.
Tea auction is a complex process and involves
It supports a robust governance framework where existing tea trade business rules relating to membership parameters can be easily incorporated into the system. This enables and control member registrations and the respective roles.
This helps to categorize the type of teas available for sale at the Tea Auction centers. It showcases an aggregated catalogue to manage the pre-auction, auction and post catalog by brokers to different stakeholders – producers, brokers, buyers and banks based on their role in the value chain.
This intervention manages the electronic and real time bidding at increased speed and efficiency besides facilitating price discovery. e-Auction function to enable both electronic auctioning and bidding by brokers and buyers respectively.
The major modules
Controls and manages key tea trade business transactions pre and post auction, including tea offers/allocations, dispatch advice, receiving, sale order, delivery order, invoice, payment confirmation, tea release document and reporting data. It also drives payment integration to enable banks to confirm receipt of payment of teas from buyers.
The impact of ITTS on e- auction is as follows:
Find out more about how we can help
your organization break the thought barriers.