Steinweg understands the importance of real-time insight into their inventory, especially given the significant role of financial transactions and risk management. In response to this demand our group has introduced Steinweg Online, an advanced digital platform that enables customers such as Benjamin Johnson, Senior Associate at Commonwealth Bank, and Mike Hawken, Manager at Zopco Trading, to consolidate and manage their inventory data across multiple locations worldwide. Steinweg conducted separate conversations with Benjamin and Mike, who share their experiences with Steinweg Online, emphasizing the value of the information they receive through the platform.
Benjamin Johnson – Commonwealth Bank
Benjamin closely collaborates with clients engaged in goods trading, with the bank providing financial support for these transactions. As part of his role, he is responsible for checking inventory data to ensure that financing proceeds as agreed. This data is essential not only for financial transactions but also for the purposes of insurance and risk management. Leveraging Steinweg Online, Benjamin overseas his clients’ global inventory spanning Asian locations, the Netherlands, the USA (Baltimore), Italy (GMT) and Spain, enabling him to perform his tasks more efficiently and gain better insights into his clients’ activities.
Managing release instructions
“The information the portal provides for our daily reconciliations is very valuable”, Benjamin explains. “It allows us to monitor the inventory we finance and ensure everything proceeds as agreed.” One of the main aspects Benjamin and his team use Steinweg Online for is managing releases to their clients. “The platform provides us with really good prompts for managing release instructions to our clients”, Benjamin says. Despite some minor challenges that he is collaborating on with Jennifer Chen (Steinweg Online) to resolve, he emphasizes that he is generally very satisfied with Steinweg Online. “All the information we need is provided well by Steinweg and the portal. We’ve had good experiences with the platform.”
When it comes to the future of Steinweg Online, Benjamin is working with Jennifer on several optimizations, such as online release creation. “It would be great if we could minimize delays in inventory status”, he says. “But I think the platform is already very valuable to us and our processes.”
Mike Hawken – Zopco Trading
“I started using Steinweg Online in March 2021, shortly after the platform was set up for us. My role within Zopco focuses on risk management, where I’m responsible for reporting inventory positions and transactions. Steinweg Online quickly proved to be a powerful tool for me and my team. Compared to other warehousing companies, where we often wait for Excel sheets, Steinweg Online gives us instant access to detailed inventory information across Asia, the Netherlands, Italy (GMT), and soon Africa. This allows us to quickly track inventory movements and effectively manage our risk.”
Mike continues: “What’s remarkable is that with Steinweg Online, I can not only see the total inventory but also view details at both the product level and individual item level. This level of detail is crucial for our reporting process and gives us complete control over our inventory and movement thereof. Additionally, I appreciate the platform’s user-friendliness. Even without extensive training, I could quickly navigate and retrieve the necessary information.”
Regarding data security, Mike says: “The strict login criteria and security measures behind the platform reassure me about the privacy and security of our data. It’s a huge improvement over exchanging sensitive information via email, where the risk of fraud is always present.”
Mike concludes: “Overall, I’m very satisfied with Steinweg Online. It has helped us streamline our reporting processes and strengthen our risk management. I look forward to further collaboration with the Steinweg team and am excited about future developments to the platform.”
Continual optimization process
Feedback from customers like Benjamin and Mike is invaluable to Steinweg, as it helps in continuously improving and optimizing the platform. Their positive experiences with Steinweg Online illustrate the impact of innovative digital solutions on efficiently managing inventory data and strengthening risk management. Steinweg continues to strive for a seamless and efficient experience for all its users and looks forward to further collaboration with its customers to ensure continuous improvement.
Published on: 5 June 2024