The following is a guest post from Mike Corley, Risk Consultant, founder and president of Mercatus Energy Advisors.
How does one develop an energy risk management policy when nothing of the like currently exists within the organization? Start by defining the purpose(s) of the policy. As an example, the purpose of an oil and gas producer’s risk management policy might read as follows:
- To ensure continuity of exploration and production in adverse market conditions
- To guarantee that revenue and cash flow are sufficient to service debt
- Seek opportunities to increase revenue and cash flow, while reducing risk, by restructuring or liquidating existing hedge positions.
Tags: best trading back-office software, bi-lateral contract management software, Commodity Trading and Risk Management-Ctrm, energy retail billing, Energy Settlement software, energy wholesale billing, ETRM back office defintion, ETRM Software back-office, SAP Energy back office, Shadow settlement software
Built from the back-office forward by industry professionals, Pioneer Solutions offers a top-in-class energy trading back-office software (stand-alone) module called “SettlementTracker.” The product features a flexible and malleable no coding needed formula-driven architecture for management of all energy wholesale and retail contracts including shadow settlement, bi-laterals and more!
Some the largest Utilities in the world rely on Pioneer’s “SettlementTracker” as a stand-alone billing engine to manage their complex array of contracts both wholesale and retail. SettlementTracker is the back-office settlement engine module of Pioneer’s enterprise C/Etrm software system called “TRMTracker.” It can easily stand-alone and integrate with existing legacy ETRM systems or ETRM vendor products.
Tags: best emis software, Carbon Emissions Accounting, Emis Software
Pioneer announces advanced OLAP cube reporting feature for Enterprise Environmental & Emissions Management Information System-Emis-OLAP definition
OnLine Analytical Processing-OLAP decision support software allows the user to quickly analyze information that has been summarized into multidimensional three dimensional views and hierarchies. OLAP tools are used to perform advanced Emissions and Environmental trend analysis and compliance insight.
Tags: adhoc reporting in ETRM, all web-based Ctrm-Etrm software, crystal reports for Ctrm-Etrm, Ctrm-Etrm decision support software solution, Ctrm-Etrm reporting software system, OLAP definition
Pioneer announces advanced OLAP cube reporting feature for C/ETRM “TRMTracker” -OLAP definition
OnLine Analytical Processing-OLAP decision support software allows the user to quickly analyze information that has been summarized into multidimensional three dimensional views and hierarchies. OLAP tools are used to perform advanced C/ETRM trend analysis and risk insight. They enable users to drill down into masses of C/ETRM statistics in order to isolate trends for advanced decision support.
Tags: Best ERM software system, Enterprise risk management-ERM software attributes, ERM defined, Top 5 features of ERM software system
What makes a risk software system an Enterprise Risk Management -ERM software system? ERM Defined
ERM Defined- Enterprise Risk Management is the process of consolidating enterprise risk buckets: operational/operations risk, credit risk, market risk, geo political risk and regulatory risk into a central repository for the purpose of deciphering, consolidating, analyzing, quantifying, calculating, measuring, simulating and generating meaningful risk metric outputs for advanced corporate or enterprise risk management.
Top 5 ERM risk software system features:
1. Integration capability- True ERM risk software systems are a central repository that must drop into and work with existing internal and external IT infrastructures. Both internal and external risk data must be easily consolidated for risk measurement. This is easier said than done and should be a major concern for any ERM initiative. Delivering a true ERM is a major undertaking and often where ERM initiatives fail. Suggestion: Look for ERM systems that have embedded middle-ware technologies that promote ease-of-integration. Also seek technologies that are rapidly deployable and template-based to avoid the cost of expensive coding changes to fit your requirements.