HiveXchange rallies behind market community

Created to form a digital version of the central market trading environment, co-founder and chief executive of HiveXchange, Antonio Palanca, said he hoped this version would help the fresh produce industry navigate the tricky period ahead.

“We have made it really simple for central market agents to make their physical market digital,” said Mr Palanca.

“Fresh produce is complex, and a market agent typically has hundreds of commercial buyers and hundreds of SKU’s. What is truly unique about our IP is that in under an hour a market agent can streamline the entire process and have their buyers using the personalised mobile app with live market offers that are simple to update.

“No experience or infrastructure is required; all you need is a mobile device and our technology to set your business up with a private retail network,” he added.

HiveXchange was developed by both Mr Palanca and Damian George, non-executive director of Simon George & Sons, in 2015.

The idea behind the solution was to create a digital platform that would increase efficiency by allowing businesses to streamline their communication, logistics, accounting and administration.

The platform works by allowing agents and buyers to view and privately bid for produce in real time and allows them to deliver a digital version of their produce to their customers and instantly respond to changes in supply and demand. 

In a release, HiveXchange said the free version of its app would allow central market participants to use an Australian made digital solution to support the real time trade of fresh produce.

In turn, it would also enable social distancing regulations to be enforced and allow organisations more flexibility to manage staffing challenges and cost containment.

Source: Produce Plus

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