OpenLink's solution will enable Land O'Lakes to further gain competitive advantage through enhanced risk and margin management and meet strategic goals
New York – February 22, 2011 – OpenLink Financial LLC (OpenLink), a leading provider of cross-asset trading, risk management and operations processing software solutions for the agriculture and soft commodities industry, announced today that it has been selected by Land O'Lakes to manage their trading and enterprise risk management requirements. Land O'Lakes will implement the integrated dbcSMARTsoft and Endur/RiskPak solutions across its global business units to manage physical and financial commodities.
Land O'Lakes, the leading marketer, producer, food and agricultural cooperative, selected OpenLink after a comprehensive review of industry solutions. OpenLink's integrated solution surpassed top competitors due to its superior risk management, instrument modeling and reporting functionality.
Key requirements for Land O'Lakes included the ability to manage all commodity and energy exposure in a single enterprise-wide solution; support multiple risk management methodologies; monitor corporate performance metrics including earnings at risk, cash flow at risk, real-time credit risk; and proactively position them to handle the uncertainties related to pending legislation.
"At Land O'Lakes, transparently managing margin across our entire value chain is a principal operating philosophy," said Susan Grelling, VP of Commodity Risk Management at Land O'Lakes. Ms. Grelling went on to add, "By deploying OpenLink's solution, we will be able to more effectively manage pricing and earnings, better preparing us to manage operations in increasingly volatile and regulated markets".
Henry Bonner, CEO of OpenLink's Agriculture and Soft Commodities division, remarked, "The continuing price turmoil in the agriculture and soft commodity markets is driving industry leaders to implement best practices for commodity risk management. We are proud to include Land O'Lakes in the growing list of global companies adopting our leading solution for integrated trading and risk management."
To learn more about OpenLink's Solutions for Agribusiness, please visit Our Agricultural Solutions.
Land O'Lakes, Inc. (www.landolakesinc.com) is a national, farmer-owned food and agricultural cooperative with annual sales of $11 billion. Land O'Lakes does business in all 50 states and more than 60 countries. It is a leading marketer of a full line of dairy-based consumer, foodservice and food ingredient products across the United States; serves its international customers with a variety of food and animal feed ingredients; and provides farmers and ranchers with an extensive line of agricultural supplies (feed, seed, and crop protection products) and services. Land O'Lakes also provides agricultural assistance and technical training in more than 25 developing nations.