Performance Enhancement
A European Power Trading Firm wanted to establish a US business desk. The client used an ETRM system domestically and a homegrown system for their ISO transactions however faced a notable challenge due to the lack of standardization. Users resorted to manual database updates domestically which led to inefficiencies and a heavy reliance on manual ways of data consolidation and system operations. The absence of automation added to these issues, necessitating a comprehensive solution to streamline processes.
ANTICIPATED KEY RESULTS
$2 Million
Resource Cost Savings
Implementation of up to 7 products
500
Hours Saved
Implementation Effort Behind Each Product
20%
Time Savings
Daily Operations and Reconciliation
Software Selection
To optimize and enhance operations; we performed a comprehensive software evaluation. We proposed a dual-system approach to have – an ISO Bid to Bill solution for transactions with ISOs and an ETRM system to handle Exchange, Bilateral, and Environmental (Non-ISO) trades. The following features our process for recommending the solution.
- Full trade life cycle process mapping to understand current & future transactions.
- Multiple user interviews to comprehend desired future requirements and expectations within various trading groups (Front, Middle, Back and IT office).
- Using our proprietary Commodity Trading Organization business context matrix, we designed the client’s commodity business model to map the full requirements.
- Various instruments were employed to check ETRM and ISO systems' compatibility across each Trading Office, Costs, Usability, Integration, and Extensibility to conclude the best option suitable for the client’s needs.
Value Creed Services Mobilized:
Software Selection
Our comprehensive Software Selection process ensures a complete study of the business operations. Workshops help us to understand the key requirements of business operations to design a process map and conduct a gap analysis. With industry-experienced team members, we understand future business needs, playing a vital role in software selection services.
Key Takeaways
We advised upgrading their current ETRM system for managing non-ISO transactions and implementing an ISO Bid to Bill solution for transactions with ISOs. This approach is tailored to provide the client with an efficient trading infrastructure that meets their specific requirements.
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