[vc_row][vc_column][vc_column_text]Did you know the global ETRM software industry is expected to be valued at $1657.6 million by 2025? ETRM, also referred to as an Energy Trade and Risk Management Software is a category of software systems built specially to manage the trading of energy commodities like crude oil, refined products, natural gas, NGLs, electric power, etc. Given its massive market size and promising risk management capabilities – energy traders are sure to find themselves lost while selecting the right ERTM solution. So, to clear the air, we’ve put together 5 factors to consider before investing in an ETRM system.
Do you find yourself struggling to understand your exact trading positions? Does the inefficiency of spreadsheets threaten your productivity and data security? Or is accurate forecasting a challenge? We have got you covered! Simply ensure the ETRM system you finalise offers the below features:
- SaaS vs On-premise platform:
Until a decade ago, traditional on-premise systems were relevant. This meant that the ERTM or ERP system would be hosted on a company’s own servers with the software installation being conducted in accordance to the capacity requirements. While customers would maintain complete control of ETRM software, the updates would not run on in a scheduled manner. Thus, resulting in customers using an outdated version – vulnerable issues such as data security.
To cope with these gaps, SaaS-based energy trading tools like Robo-Commodity have been developed. As the application is hosted at the vendor’s premises, system administration, maintenance and monitoring are managed conveniently. With Saas comes, quicker implementation timelines and cost saving opportunities on new hardware and 24/7 IT resources. Additionally, as the SaaS is hosted on cloud, it offers remote accessibility from any device at any location worldwide, any time. Thus, making it ideal for the current remote working scenario due to the pandemic.
- Implementation Timelines
ETRM implementation timelines depend on vendor policies and the scale of capacity requirements. Most vendors require up to several months, whilst at Robosoft Solutions it can just take a few weeks. Awarded for Fastest Implementation 2021, we ensure your energy trading solution is up and running in no time! Simultaneously, helping you add new modules as required, conveniently in the future.
- Level of Integration
While implementation is key, so it the integration process. It is beneficial to find a comprehensive ETRM or ERP solution that covers all the end-to-end trading process. This includes, trade capture, finance and operations, risk management, billing, data analysis, etc. On the contrary, if you have an existing legacy system, you must check with the software provider if an integration is possible? Overall, it is important to ensure, the integration supports all business areas and improves efficiency.
- Risk Management
Risks associated with energy trading are inevitable! However, they can be well-managed using an advanced ETRM or ERP solution. Cloud-based tools such as Robo-Commodity are specially developed to manage the complexities of the industry. Using advanced tools help prevent system downtime through its unique disaster recovery capabilities.
- ETRM system Vendor Capabilities
The proficiency of vendor team is as important as their solution. Is your vendor able to use the exceptional capabilities of their ETRM system to match your business specific needs? For instance, Robo-Commodity is supported by 12+ years of research and 325+ techno-functional experts. Through the years, we have powered energy trading leaders such as Axiom Global, Gulf Petrochem, Benelux DMCC & 1 Energin, IME and IMR . Based on our experience, we suggest requesting for a dedicated vendor consultant to evaluate your business processes, company goals, potential risks and data insights functionalities. In addition, you might also consider the amount of customization required and evaluate if it offers best value.
In case, you would like to learn more about Robo-Commodity or merely need some suggestions – we’re at your service! Please feel free to reach out to us right away.[/vc_column_text][/vc_column][/vc_row]
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