In RECY® you can create contracts of all types: purchase orders, or sales contracts, based on yearly volume, metal content, unfixed or fixed prices, recovery percentages, hedging with the London Metal Exchange (LME), and many more options. You can also use the application for quotes.
The contract position is updated in real time providing vital information in the metal business. Position cannot only be controlled by group of metals or commodity but also on a contract level in trading activities. The software answers your question whether you are long or short on a large contract, are you over a pre-defined risk limit, what is priced and what has to be fixed still. This information can automatically be brought to the attention of the responsible trader through our CRM system.
Especially for trading RECY® provides results on shipment, contract and/or trader level, giving you an effective control of the business. In regard to foreign currency RECY® has the options to fix currency rates by contract, or link foreign currency deals with a physical contract. This reduces risk, provides correct results, and easy reconciliation.
The flexible pricing management in RECY® allows for the very frequent price modifications in the recycling business. Prices are based on a multitude of criteria; commodities, customers, customer groups, customer locations, date range, quantities, price codes or sites. Updates can be easily done through base price lists, linked or unlinked to markets.
Prices can be linked to base price or market price lists with a plus or minus adjustment for each customer. Price fixations based on LME or COMEX can be processed and a fixation notice mailed to the customer.
RECY® provides full integration of truck and platform scales, which allows for a smooth and reliable data flow with no duplicate data entry. While implementing our software in your company, our staff will spend a considerable time with your scale people in the first days to ensure that this important work process is handled efficiently without any problems.
The weighing of a truck triggers a whole chain of events and provides the basic data for inventory, contract positions, cash/cashless purchases as well as purchase and sales invoices. The better the work at the scale is organized, the faster the trucks can be moved through the yard and back office work is reduced to controlling. With RECY®, a good scale master can handle 60-70% of the administrative work in a recycling business, provided your master data is well organized and the price management is used.
RECY® offers intelligent and fast procedures for the scale process which provide high security and good control at the same time. The weights are transferred automatically from the scale electronics. When the logistics package RECY® MULCO is used, supplier, location, truck, commodity, etc. can be picked up directly from the dispatched run. For platform scales which are used for non-ferrous metals, RECY® offers fast work-flow, based on touch-screen technology, which meets all the requirements needed in this area. RECY® integrates also with camera systems, taking photos which are automatically archived with the received commodities.
For the sorting and evaluation of mixed metals and metal alloys, WIP sorting, quality control features and interfaces to spectral analysis equipment are available.
Cash (where permitted) / cashless purchases are daily practice in most recycling companies and require a well-designed and secure software solution. RECY® includes a fully integrated electronic cash box; cash purchase tickets, cash sales documents, and the complete work and data flow which is necessary. The payment itself can be done by cash money (where permitted), cheques/checks, debit cards or fast bank transfer. RECY® also provides interfaces to ATM machines located on your premises.
ID cards can be scanned by an integrated device and processed within seconds creating an accurate trade account. IDs, photos, and even fingerprints can be linked to the cash transactions providing full compliance with the laws of your country. Signatures can also be captured through a panel and stored with the cash receipt.
All cash transactions can be reconciled with a daily cash report and then posted automatically into the accounting system.
Purchase Invoices or Settlements
In most countries self-billing is allowed and is well used in the recycling industry. The recycling company prints the purchase invoice for the supplier. This reduces the work for controlling and eliminates the manual posting of purchase invoices.
The purchase invoice or settlement is based on previously negotiated prices or contracts, and the scale tickets which the supplier has received when the commodities were picked up or delivered by the supplier. Numerous requirements by country or region are considered in RECY® and customized solutions are available.
The automatic separation of material and service items in payables and receivables on two separate documents due to positive and negative prices is just one of many special requirements in this industry.
Many companies pay their suppliers by check which is mailed with the settlement. This means payment outside the accounting system which creates a problem for most accounting packages but not for RECY® Accounting. Through a check control account which handles the un-cleared checks, bank reconciliation is largely eliminated. The issued checks are added to the check book and can be easily cleared when it is charged to the bank account.
Sales shipments are handled through the scale program in RECY if from the yard, or in the back office in the case of trading. Prices are retrieved from a contract or a price file.
All industry or country specific requirements are fully met by RECY®. The quite complex regulations within the European Union like intra-community deliveries, triangulation, EU service charges, etc., are controlled by tax codes which handle VAT and Intrastat Reporting according to the European laws.
For overseas shipments RECY® produces all relevant shipping documents like bill of lading, pro-forma invoices, customs documents, packing lists, insurance, etc. The integrated word processing provides the flexibility which is needed in this area.
For adjustments to consumer weights and claims, RECY® provides highly efficient functions.
Stock/Inventory management in a scrap recycling company can be considered as one of the most demanding in any industry. This is due to the fact that you do not have clearly defined products which are easily identifiable. In this industry you buy commodities which are sorted, separated, or processed and re-classified. Inventory is not only built through purchases but through transfers based on various production and sorting processes.
The initial inventory is updated as soon as it is received in your yard, and the truck or railcar leaves your scale. The received goods are priced through multi-dimensional price management or through linking them to a contract. The standard evaluation method used in the recycling industry is the weighted average method. FIFO or LIFO method are also offered. Direct cost of sales like freight or tolling can be linked to the shipment at any time. You can start with a calculated cost and later allocate the effective cost through freight control or other processes.
The new inventory can be automatically be posted to the accounting system at month end. The entry consists of the evaluated inventory gain or loss in comparison to the previous fiscal period, optionally separated by profit centre.
Trading (Domestic & Overseas)
Some of the largest trading companies in the recycling industry are using RECY®. A complete suite of programs and functions were added to the application for these clients. This includes the linkage of purchase and sales contracts in a true n:m relation. The broker can dispatch the shipments, generate the necessary shipping documents and order transport. RECY enables the broker to have continuous control of their contractual position.
RECY® automatically creates corresponding transactions on the purchase and on the sales side which are updated in a complete work flow with weights and values.
The RECY® Online module has further functionality. Here the suppliers of the broker can link via a secure Internet connection to the database of the brokerage company, view their contracts, and can dispatch shipments or requests for railcars. The supplier does the work for the broker in this case as the purchase contract is linked to the sales order internally. The broker has only to update the consumer weights, and handle other adjustments which are copied to both sides of the deal. A true B2B solution!
The margin on a brokered deal can be controlled on every level, by shipment, by contract, by project, by consumer or by supplier. The existing data structure allows complete and valued analysis.
Claims are more common in the recycling business than in other industries. This is caused primarily by the regulation that the consumer weight and evaluation must be accepted in this industry. Another reason is that the quality of the commodities varies due to the purchased material and the production process.
For each claim on the sales or purchase side, a credit note or debit note can be printed and posted. This document is automatically linked to the original invoice so that payment and payment deduction can easily be applied.
The detailed claim data can be used in reports to analyze and evaluate quality and performance of consumers and suppliers.
Freight is the largest cost factor besides material and production in a recycling business. In a trading business it can make or break a deal. It is therefore highly important that the trader can find the best available transport and that the freight cost is closely controlled. RECY® provides the best tools for the trader to manage these costs.
Freight and other direct cost like harbour fees, surveyor, insurance, landfill, etc. can be added to a contract with the calculated value. At the time of the shipment these costs are updated if necessary. The invoice from the transport company can then be electronically matched with the freight on record for the shipments. This method prevents any incorrect or duplication of charges. As the freight bills are automatically posted after control, the accounting department is only involved with the payment of the bills.
Numerous reports allow the detailed analysis of freight and other direct cost and also monitor the performance of your freight carriers.
For production equipment like shredders, shears, separators, etc., RECY® provides an application which allows you to specify the production input and output, capitalize production cost (optional), or tolling fees. Automatic update of inventory and constant re-evaluation of production transfers are integrated processes.
A mobile App allows the yard master to control the trucks in the yard and grade the material which is unloaded. The application runs on a touch screen device which is linked to the database by either Wi-Fi or GPRS. As soon as the scale master has registered the first weight in, the yard master can see the truck on his device. He can select the commodities using a tableau which can be easily be set up and maintained by the customer.
The yard master can split the load into multiple commodities by percentage and can also add deductions for the whole load or by commodity. As soon as he releases the truck through a touch on his device, the data is available at the scale. The scale master can see that the grading is done and takes the tare weight of the truck. The scale master does not have to enter any of this data. The risk of miscommunication is largely reduced.
The device is also capable of taking pictures and linking them directly to the commodities on the ticket.
RECY Online Solutions
With RECY Online Solutions you manage your brokerage business in real-time. All delivery details are entered on the supplier's premises and saved on your server. Additionally, the supplier is provided with all necessary freight documents in pdf format. At the same time, the invoicing data for the customer is generated and the delivery to the customers location is advised. This gives you a permanent control about the delivery states and the contribution margins and includes the human ressources of your supplier at the same time.
Besides the standard module for trucking and shipping companies, RECY Online als offers integration and data transfer for RAILION (edifact) and CargoAustria (XML).
RECY® offers integrated solutions for production equipment like shredders, shears, cranes, balers, sorting belts, non-ferrous separation, spectral analysis equipment, etc. Mobile data collection devices, based on barcodes or transponders, or direct interfaces with the production equipment collect the data.
The application provides information on production volume, down times, and reporting for analysis and cost-savings in the production area.
With RECY® PM Preventive Maintenance for all kinds of equipment, including trucks, can reliably be scheduled, and detailed job orders with the necessary resources and spare parts can be prepared.
- Heavy Media
- Waste Management
- ATM Interface
- Scale Interface
- ID Scan
- Fingerprint Scan