AgXML Management Committee Announces Publication of v4
AgXML LLC, the grain industry coalition committed to the development of standards for electronic commerce in the grain and oilseed industry, announced its publication of AgXML Version 4, which includes an enhanced set of code lists.
Online, January 4, 2010 (Newswire.com) - Liberty, MO - January 4, 2010. AgXML LLC, the grain industry coalition committed to the development of standards for electronic commerce in the grain and oilseed industry, announced its publication of AgXML Version 4, which includes an enhanced set of code lists. The publication is available now on its website, http://www.agxml.org.
AgXML v4 brings the AgXML schemas more in line with schema best practices defined by the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT), which supports activities dedicated to improving the ability of business, trade and administrative organizations to exchange products and relevant services effectively. Its' principal focus is on facilitating national and international transactions, through the simplification and harmonization of processes, procedures and information flows, and so contribute to the growth of global commerce.
According to AgXML Executive Director Jim Wilson "AgXML embraces the three pillars UN/CEFACT states which are vital in the development of world trade: processes, information and technology. Using AgXML schemas, organizations can use electronic business processes to trade grain, ethanol, and grain and ethanol co-products in a global business environment 24 hours per day."
Specifically, the new features of AgXML v4 are an enhanced set of code lists; the ability to handle Ethanol and Ethanol co-products; the ability to handle Grain Processing Co-products; and an enhanced ability to address multiple system integrations.
The AgXML v4 release also updates the prior releases of Schemas for Commodity Movement, Contracts, Contract Pricing, Weight Certificates, Quality Certificates, Settlements, and Bill of Lading.
"AgXML was founded by grain companies and grain industry system vendors. The combination of these companies created a dynamic tool that addresses the specific needs of the grain industry," added Scott Cavey, President of AgXML. "This group has been very cooperative and inclusive. By adding schemas to address the needs of Ethanol manufacturers, the group is extending AgXML to meet the changing needs of the grain industry. We encourage the rest of the grain industry to join us in implementing and continuing to improve these standards."
By nature the grain industry is low margin, high volume, and paper-intensive. Reducing paper document transfers has the potential to decrease the administrative costs of trading grain and co-products by up to 25% by using technology to eliminate much of the manual entry commonly done today.
AgXML is a group of grain industry participants with the mission of creating standards and guidelines necessary to facilitate electronic data transmission for grain trading functions. Industry members include, Cargill Incorporated, Archer Daniels Midland Company, CHS Inc. E-Markets Inc. and John Deere Agri Services Inc, DTN and Software Solutions Integrated, LLC.
