Tags: best ctrm, Best Risk management software, commodity trading & risk management-CTRM, Energy Trading and Risk Management-ETRM, Pioneer Solutions, risk management, soft commodity trading
While recognizing its importance to an efficient and effective trading process, for many trading firms it still takes a laborious and manual effort to know who their approved counterparties are, which products they can trade, and to access certification and compliance paperwork. The quality of products delivered as well as increasing food safety legislation, require proper controls to protect reputations and comply with regulatory rules. At the same time, when those controls are inefficient they will impact the business. In an age of digitalization, the successful commodity trading firms have automated this. Do you have your trading partners’ information and offering at your fingertips, or is this a Soft Spot for you?
Tags: best Etrm system, C/ETRM, mobile app CTRM, mobile app ETRM, modern integrated C/ETRM
Next Generation C/ETRM Solutions
When C/ETRM systems were introduced 20 years ago, the goal was to automate the complex and routine tasks and business processes of commodity trading, eliminating manual processes, reducing costly errors, minimizing operational risk and increasing efficiency. Today we live in an age of digital transformation, artificial intelligence, virtual reality, blockchain, and much more, with the goal to be agile, streamlined, efficient and harness the ability to leverage opportunities. While some of those cutting-edge technologies certainly cross the path of C/ETRM systems, industry surveys tell us that even the original automation goals have not been realized by the legacy solutions. Next-generation C/ETRM systems take advantage of the latest technology and deliver functionality to do more with less.
Tags: agile implementation, C/ETRM Implementations, Commodity Energy Trading and Risk Management -Etrm, configuration and development, documenting requirements, enterprise implementations, enterprise software, return on investment, software updates
Companies undertaking implementation of C/ETRM systems seek to reduce the risk of delays and exceeding budget. Actively collaborating creates a foundation for finding effective solutions and an environment where both vendor and customer have skin in the game and failure is not an option. To accommodate this process, following an iterative implementation methodology such as an Agile process is imperative. This approach provides flexibility and adaptability to changes that invariably arise during the process and is designed to deliver small “wins” that demonstrate success, project momentum and therefore a positive customer experience.
Tags: compliance ensured, ease of implementation, etrm system, flexibility for change, front to back solution, lower total cost of ownership
A C/ETRM Solution: The Way You Want It
The message from surveys in the Commodity/Energy Trading and Risk Management (C/ETRM) software market have been consistent in the past few years: Customers want less costly, proven C/ETRM functionality that is implemented faster, with reasonable flexibility as their business process is apt to change more frequently. This calls for a new approach with next generation technology at a lower cost of ownership, has customers looking beyond established C/ETRM vendors who dominated the market but struggle to meet new demands. Some of them already had their ‘Kodak moment’, while others are applying new lipstick. Pioneer Solutions offers state-of-the-art software that is designed for progress: A C/ETRM solution the way you want it.
Tags: Hedge Accounting, hedging strategies, International Financial Reporting Standards, rebalancing hedging relationships
International Financial Reporting Standard
IFRS 9 is an International Financial Reporting Standard (IFRS) issued by the International Accounting Standards Board (IASB). This new standard is endorsed by the European Union in November 2016 and has a mandatory effective date for annual periods beginning on or after 1 January 2018, with earlier adoption permitted. IFRS 9 will replace the accounting for financial instrument under IAS 39, as this was very complicated and difficult for companies to apply correctly. The new requirements include a new approach to hedge accounting and aligns more closely with risk management, and so should help users of financial statement in their decision-making. Although the general accounting mechanisms will largely remain unchanged, the reforms of IFRS 9 encompass an array of changes that will influence your hedge accounting process in different ways.
Tags: application programming interface-API, best trading back-office software, C/ETRM
As always when we enter a new year, business and technology trends are announced of what is expected to be next, that will shape the industry, and the industry may need to get ready for. What is in the cards on the technology side ranges from digital transformation, artificial intelligence, virtual reality, and 3D printing and much more. This is further influenced by world and/or market affairs that may impact the business and prompt change. While not all applicable to the commodity trading and risk management industry, let’s consider: TRENDS in 2017 that also apply to C/ETRM Continue reading
Tags: Best Ctrm Software, Best Risk management software, C/ETRM, Cloud, cloud software, commodity trading & risk management-CTRM, CTRM, energy industry, Energy News, Pioneer Solutions
Cloud-based Software-as-a-Service has quickly become a compelling and credible delivery model for business applications. If you aren’t converted yet, then realize how you already take part in on-line banking, share your medical records with healthcare providers, and access your retirement investments.
All very personal information that you may think should be equally or more sensitive than the production database of commodity trading companies. Further consider how much your business relies on communicating via the internet.
On-premise installed C/ETRM software would be as equally ‘out-of-service’ as a cloud-based solution when the internet isn’t available. Therefore, for the educated trading professional looking for proven solutions that lower cost and improve operations, there is something Between Heaven and Earth: The Cloud.
Tags: C/ETRM, Commodity Trading, CTRM, ERP Systems, Pioneer Solutions, risk management, softs commodity, software, TRMTracker
There are several definitions but commonly an Enterprise Resource Planning (ERP) system automates and integrates core business processes such as taking customer orders, scheduling operations and keeping inventory records and financial data. ERP systems have been around and made popular by companies such as SAP, Oracle, Microsoft, NetSuite and a slew of lesser-known vendors.
A fully integrated solution promises to deliver operational efficiencies and improve business results. What’s not to like?
It’s no surprise that softs commodity traders were sold on such an established solution. However, when trading is surrounded by risks and volatility, index pricing and non-standard contract invoicing, they may wonder: Is it Nuts to use ERP instead of CTRM?
Tags: C/ETRM, Commodity Market, energy industry, Energy Market, ETRM software, Pioneer Solutions
Whether it is the energy or the commodity market, they reflect a 21st century business climate of on-going and fast change. Low prices and new regulations are main reasons for the latest turmoil. Your current playbook does not help protect your current business, nor does it succeed in getting you into new ones.
It’s Albert Einstein’s definition of insanity: doing the same thing over and over again and expecting different results. Just ask all of those famous companies that missed the next wave, like Kodak and most recently Nokia. Don’t become a “Kodak Moment:” Change your Playbook with a modern C/ETRM system.
Tags: C/ETRM, energy industry, ETRM, ETRM software, Pioneer Solutions, Porfolio Management, Profitability, risk management
In the low-margin business of a retail energy supplier, the timely procurement of sufficient wholesale supply at the best possible price and risk level is critical to its profitability. To answer fundamental questions about supply & demand, portfolio performance, valuations, and profit & loss, requires an integrated system that handles the business processes from supply contracts to settlement, and where the retail sales book is linked to the wholesale sourcing book to facilitate in-depth monitoring and assessment of positions and exposures. Are you able to Parse your Portfolio for Profitability?