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IQ Logistica was established in 2014 with the launch of IQ Thentic, a cloud-based software suite.
IQ Thentic was initially launched with the aim of revitalising the cotton industry in collaboration with the Industrial Development Corporation (IDC) and the South Africa Cotton Cluster, and was used across the entire cotton value chain from 2014 to 2019, offering business intelligence, operations visibility and full traceability from farm to processor.
According to David Jeromin, director of business development at IQ Logistica, every kilogram of cotton grown in South Africa during this five-period went through the IDC traceability system. Since 2019, IQ Logistica has diversified into other markets, including sugar cane and livestock.
Unlike other software and data analysis solutions programmes, IQ Logistica offers farmers a truly unique product. Jeromin says the company is farmer focused; as price takers, farmers often have the least leverage along the value chain, and Jeromin says their value is often overlooked. This is where IQ Logistica steps in.
Its farm management platform offers farmers and financiers a 360-degree look at the farm. Data is entered onto the platform from season to season, tracking the farm’s progress and offering this valuable data to finance institutions.
Data can be collected through various means, including devices linked via IoT, and information captured by the farmer and extension officers. IQ Logistica advisors and sales agents also visit the farm to verify the information on the platform.
The data is then consolidated, and can be used by financial institutions to aid the decision in granting the farmer a loan, for example, based on the current data on the system regarding the farming operation, and not only historic data that may not necessarily offer an accurate picture of the farm’s current status. Most importantly, this offers farmers a greater bargaining position, says Jeromin.
Jeromin says this kind of information is particularly relevant in South Africa today, as policy uncertainty regarding land, such as the amendment to Section 25 of the Constitution to allow for the expropriation of land without compensation, means that loans taken out against collateral may soon be declining.
Using IQ Logistica’s software, banks and other lending institutions will be able to calculate the risk of a loan based on the likely income generated by the farm in the coming season. IQ Logistica is currently in partnership with AgNovate and Forward Finance.
These companies use the data on the IQ Logistica platform to provide qualifying farmers with insurance and finance.
IQ Logistica is also user-friendly, and makes it easy for farmers to sign up to the platform. Farmers can simply create an account on the website for a free 60-day trial. After this, the subscription is only R150/month.
Products
IQ Logistica offers software solutions to farmers, processors and financiers:
Farm management
The IQ Thentic farm management platform allows farmers to manage all aspects of their farming operation via the IQ Logistica farm management platform. This includes budgeting, inventory and other relevant farm information down to the block level.
Through this platform, farmers can have access to various financial services, such as insurance and loans. There are many benefits to using the farm management platform. These include:
- Monitoring seasonal progress with over 100 farming data points;
- Farm/block geographic information system (GIS) mapping;
- Input inventory management;
- Seasonal budgeting;
- Off-take contracts management;
- Safe organisational and Know Your Customer (KYC)/Financial Intelligence Centre Act (FICA) information storage.
Secondary agriculture
The IQ Thentic secondary platform, aimed at millers, presses, and gins, manages the order flow details from farming suppliers to dispatch when the product leaves the facility. The platform allows processors to monitor contracts, orders, and finances from start to finish.
Financial institutions
The IQ Thentic platform for financiers, insurers, and extension officers allows these role players continuous access to current information on a farm or at a processing facility. This means these role players are better able to make important financial decisions.
For more information visit www.iqlogistica.com or email: [email protected]
