Amove to the future, ETRM reduces the uncertainty of the overall structure and opens the gate to rapid innovation and adaptation to changing business requirements.
FREMONT, CA: Traders, risk managers, schedulers, back-office professionals, and IT project and support leaders cannot provide to fall behind the competition in the current fast-paced, high-risk area of energy commodity trading and risk management by depending on obsolete methods like spreadsheets or legacy ETRM technology platforms that don't meet the needs of ever-changing business necessities.
Therefore, how do businesses remain ahead of the pack? By transitioning to the future of Energy Trading and Risk Management (ETRM). To get there, one must reconsider the ETRM plan and work with an accomplished energy business advisor who can aid unlock enterprise value and mitigating risk.
Challenges with Current ETRM Systems
Many existing ETRM systems are according to older technologies that have not adapted to evolving market conditions or support quick implementation methodologies like Agile. While most of the significant ETRM systems started as custom solutions, their technological architectures were based on popular technologies when they were created. The present transaction processing capabilities of ETRM systems result in organized business databases that are often "trapped" within the ETRM's data model, ineffective to be consumed by the organization for advanced analytics or other solutions. The number of vendors, but not the number of product choices, has decreased because of recent consolidation trends among ETRM solution providers. Technology advancements continue, but they are frequently years behind schedule and much further behind market relevance in a rapidly changing setting.
Crucial Aspects of The ETRM Of The Future
A move to the future ETRM reduces the uncertainty of the overall structure and opens the door to speedy innovation and adaptation to changing business needs.
Cloud First
Offering true cloud-based digital services, rather than only hosting legacy on-premise solutions or granting Software as A Service (SaaS) version.
Modular
Products are made from the ground up to give self-contained functionality and are designed to facilitate integration with exposed Application Programming Interfaces (APIs).
Market and Commodity Specific
User-centric designs are created to offer an optimal user interface for certain functions related to a market or commodity.
Agile-Enabled
Simple configuration choices, modularity, specialization, and the availability of DevOps tools enable rapid and iterative implementation.
The Benefits of The Future ETRM
Reduced Implementation & Operating Expenses
Shorter deployment times and the advantages of scaled cloud services result in a lower overall cost of ownership.
Accelerated Roadmaps
Component-based development allows for faster implementation and the introduction of new features and capabilities.
Open/Accessible Datasets
Data accessibility and expansible datasets can be accomplished using advanced technical architectures, allowing businesses to extract value from their business data.
