Hrvyst and MyGrower Integration to Launch Broadly this Summer
CHICAGO / ALPHARETTA, Ga., May 12, 2020 – Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, and Greenstone Systems, the leading market provider of integrated agricultural accounting and management software, today announced that RJO’s Hrvyst initiative has partnered with Greenstone to digitally connect and automate origination, merchandising and hedging for U.S. grain companies. The integration will be piloted at several locations throughout the country with broad commercial availability expected this summer.
Hrvyst is a purpose-built agri-tech application created by RJO for the commercial grain industry that automates hedging by digitizing the entire grain origination and merchandising process. It electronically links grain offers, purchases and sales to the futures market and to the grain company’s Enterprise Resource Planning (ERP) system. The platform is broker-agnostic so it can be used by commercial grain elevators and linked to their existing brokerage firms.
Greenstone’s MyGrower is the powerful mobile engagement platform that enables growers to access real-time account information from the AGRIS ERP system anywhere, anytime. It seamlessly connects growers to their elevators so they can operate their business on-the-go. AGRIS is the most widely used ERP system in the U.S. grain industry.
Through this new integration, the MyGrower platform moves beyond a mobile engagement platform and resource into a transaction-generating tool that can help originate more bushels and facilitate hedging against activity in the cash market. Offers created with MyGrower can instantly flow into and be managed and hedged by Hrvyst while the AGRIS ERP system updates in real-time.
Kirk Bonniwell, Senior Managing Director, Hrvyst, said: “Grain companies are forced to rely on manual processes to string together disconnected workstreams for buying or selling grain and managing hedges. This kills productivity and introduces unnecessary risks. Too often, it also contributes to missed origination and merchandising opportunities. Integrating the Hrvyst and Greenstone platforms mitigates those risks and offers the grain industry an opportunity for straight-through processing capabilities enjoyed by other industries for years.”
“Customers informed us that they need a connected solution from the grower, to the hedge management trading system, to the accounting system,” said Mike Terning, Head of Product with Greenstone Systems. “The decision to partner with R.J. O’Brien’s Hrvyst was driven by our commitment to provide Greenstone customers with the best combined system. This integration will help grain originators and merchandisers increase engagement with farmers and reduce hedge slippage. It will also greatly increase efficiency and accuracy as accepted offers automatically flow from the Hrvyst trading system into the AGRIS platform.”
Bonniwell said: “The agricultural industry has faced enormous challenges over the past few years, and these are only magnified as the world is dealing with the effects of COVID-19. It’s more important than ever that those in the grain industry make use of the tools that reduce risk, while ensuring the uninterrupted operation of the food supply chain. This partnership can help those in the grain industry meet those goals and remain properly and precisely hedged in real time, without waiting hours or days to know where they really stand.”
For more information, please visit greenstonesystems.com/hrvyst-mygrower.
About R.J. O’Brien & Associates and Hrvyst
Founded in 1914, R.J. O’Brien & Associates is the largest independent futures brokerage and clearing firm in the United States, serving more than 80,000 institutional, commercial and individual clients globally, in addition to a network of approximately 300 introducing brokers (IBs). RJO services the industry’s most expansive global network of IBs, a vast array of middle market firms and many of the world’s largest financial, industrial and agricultural institutions. The firm offers state-of-the-art electronic trading and 24-hour trade execution on every major futures exchange worldwide. RJO has received the FOW International Award for Non-Bank FCM of the Year for the past four years. Wealth and Finance International Magazine named the company’s private client division, RJO Futures, 2018’s Most Trusted Financial Brokerage Firm. At the HFM US Quant Awards 2020, RJO won the award for Best Independent FCM – the eighth honor bestowed by the HFM Global publications on RJO and its UK affiliate.
Hrvyst enables users to manage their grain risk in real time, enterprise-wide, automatically converting cash grain movement into futures hedging orders. Conceived and developed internally by the RJO Commercial Agricultural team, Hrvyst automates what has historically been a human process, improving communication, accountability and hedging precision for large grain elevator companies and cooperatives, commercial producers and commercial agricultural operations.
About Greenstone Systems
Greenstone Systems is the leading market provider of integrated agricultural accounting and management software. Greenstone is part of the Cultura Technologies family, which is owned by Constellation Software, Inc. (CSI), an international vertical market software specialist. Greenstone is an independent software provider, not aligned with or owned by any agribusiness industry suppliers. As one of the pioneers in the U.S. grain origination software market and as a stable provider with the financial backing to invest in its products and services, the company makes improvements and decisions based on the feedback of their valued customers. Team Greenstone’s values center around partnership, transparency, and practical application as the company works to grow and future-proof agribusinesses by keeping them at the forefront of technology.
Ellen G. Resnick
Crystal Clear Communications (R.J. O’Brien)
Kristin L. Utterback (Greenstone Systems)