LMC makes major technology investment
Tech company LBMX Inc. and LMC, the largest forest products and building materials cooperative in the U.S., finalized a significant commercial upgrade to expand the existing LBMX services. This will result in a full end-to-end LBMX Group Platform for LMC and its members.
The two organizations have had a strong partnership in place for the past nine years notes Paul Ryan, president and CEO of LMC. “LBMX was the obvious option when we began the process to evaluate a larger technology transformation for our entire B2B platform needs,” he said. At LMC’s 2023 Expo, held last November in Philadelphia, Ryan made a commitment to replace the LMC legacy billing systems with a new, single platform designed to improve accuracy and reporting, downsize manual work and create a faster claims process among other features.
“We looked at a number of options, including building a solution in house, however the current and future capabilities of the LBMX platform and the vision of the LBMX team for future enhancements -- particularly in the area of AI and ML -- ultimately made LBMX the right choice,” says Jack Phipps, VP of information technology at LMC.
LMC will take advantage of LBMX’s fully managed electronic data interchange (EDI) services, leveraging the power of real-time data to view full analytics for the group and dealer members, manage claims, deliver statements and complete full central billing activities.
Alison Fulton, chief revenue officer of LBMX, says this partnership is an important evolution in the portfolio of the group business for LBMX. “It’s well understood that LBMX dominates the lumber and building materials (LBM) space in Canada, with most major buying groups as customers in addition to having a presence in the U.K. and New Zealand. This upgrade at LMC brings the largest U.S. buying group for LBM fully into our ecosystem, marking us as the premiere solution in this industry.”
The LBMX platform is architected to provide advantage for all participants in the supply chain. “Our focus on member-driven organizations and our deep industry experience in LBM has resulted in a solution that drives real value for everyone: LMC members, LMC suppliers, and LMC,” remarks Greg Dinsdale, CEO of LBMX.
LMC and LBMX are set to begin implementation of the complete platform transformation beginning in August 2024.
LBMX is based in London, Canada and has customers throughout Canada, United States, United Kingdom, Australia and New Zealand.
