Tag Archives: TRMTracker

Is it Nuts to Use ERP Instead of CTRM?

Post by admin on November 8, 2016

nuts-blog

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?

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Three Challenges in Turbulent Power Markets

Post by admin on July 18, 2016

Power Markets Blog Post

Wholesale energy markets have never been easy and when global deregulation started over 20 years ago, energy trading became more complex giving rise to information technology solutions to address the risks with energy trading: Energy Trading and Risk Management (ETRM) systems.

It was essentially the first message that the use of ETRM systems was the prudent way to help market participants manage complex risk scenarios and effectively trade and manage energy transactions from trade capture to delivery and settlement. Following several years of economic hardship due to the 2008 global financial crises, market participants now face an environment of ever-emerging rules, the effects of renewable energy and competitive pressures.

It is with an effective ETRM system that market participants can respond to three main challenges: Increasing complexity and workload, contain operating cost, and regulatory requirements.

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Join Pioneer Solutions at IP Week 2014

Post by admin on February 18, 2014

ip_week_1Pioneer will be hosting a Drinks Reception during International Petroleum Week (IP Week) (February 17th-19th) to mark another milestone in its journey as a next generation provider of
C/ETRM Solutions.  We hope to see many of you there! Look for a Pioneer representative to learn more about our solutions outlined below.

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Pioneer Solutions Marks 10 Years Providing C/ETRM Software Systems

Post by admin on December 18, 2013

logonobackPioneer Solutions was originally formed to provide effective next generation software for the financial and regulatory commodity and energy markets. The nature of our company has always been commercial driven data management.

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Credit Value Adjustment (CVA): Challenges and How to Manage

Post by admin on May 15, 2013

Written by Uday Baral, Pioneer Solutions’ President/CEO

Are you prepared for financial regulations related to Credit Value Adjustments and Fair Value Disclosure?

finregTwo counterparties are taking market risks as they enter into a trade. In addition, they are also taking credit risks against each other, due to counterparty default (i.e., counterparty credit risks).  Credit risks should be adjusted appropriately with credit/debt value adjustments (i.e., CVA/DVA) in order to reflect the adjusted value of the portfolio.

The FASB and IFRS accounting standards require fair value adjustments, due to credit risks. These requirements are dealt with in ASC815 (FAS133) and ASC820 (FAS 157) FASB standards in the US. Similarly, IFRS standards IFRS7, IFRS9 and IFRS13 define these requirements. Fair value hierarchy disclosure is also required by both FASB and IFRS standards.

While the concepts of these requirements are simple, proper implementation could not be more complex. Because of this, companies will require a solution that requires tight collaboration among market and credit risks and derivative accounting processes/solutions.

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Join Pioneer Solutions at 17th Annual Energy Risk USA

Post by admin on May 3, 2013

It is that time of year again—Energy Risk USA 2013 is rapidly approaching and associate sponsor, Pioneer Solutions, is eagerly preparing for what is expected to be a great event. The 17th annual Energy Risk USA will take place May 14-15th at the Hilton Houston Post Oak in Houston, Texas. Preand post-conference workshops will take place May 13th and 16th, respectively.

This year, representatives from Pioneer will be on-site to answer questions and discuss their next generation C/ETRM solutions.

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Pioneer Solutions Proudly Introduces New Client: New Braunfels Utilities

Post by admin on February 26, 2013

Untitled-2Pioneer Solutions is pleased to announce that New Braunfels Utilities (NBU) of Texas has purchased the TRMTracker C/ETRM software solution. Pioneer Solutions will provide the TRMTracker, facilitating NBU’s total management of all of their energy trading business processes, reporting and risk management. In addition, the software will be used to automate bilateral and ERCOT settlements and accounting.

“We have chosen Pioneer because of their ability to offer a flexible solution with rapid delivery, which NBU requires to support our unique energy trading and risk management operations.”

shaking hands

TRMTracker is a comprehensive next generation end-to-end energy/commodity trading and risk management solution that supports the entire lifecycle of trading. The system will allow NBU to manage all facets of their business by providing front to back management of energy trading.said Paula DiFonzo, CEO of New Braunfels Utilities.

 

For the Complete Press Release, including contact information, visit our Newsroom.


About Pioneer Solutions

Pioneer Solutions is a global software provider of next generation Commodities and Energy Trading and Risk Management (C/ETRM) Environmental Management Information Systems (EMIS) & Enterprise Compliance Solutions. Pioneer’s comprehensive suite of products are designed specifically for utility and energy companies and offer a single seamlessly integrated platform that can handle all commodity types, risk exposures and compliance needs.

Offering the latest in business processing capability, Pioneer’s products offer the user a configurable environment that allows for customizable templates for workflow and user-defined custom formula entry. Serving some of the largest utilities and energy companies across the globe, Pioneer’s flexible solutions are designed for rapid deployment and easily adapt to clients’ unique business processes, model complex trading scenarios and automate business processes.


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Gas Pipeline EBB Automated Scheduling Solutions – ETRM Software

Post by admin on September 24, 2012

logoTwo basic approaches exist for automating gas scheduling and nominations to interstate pipeline electronic bulletin boards, or EBB’s: 1. A flat-file upload which typically requires a scheduler to login to the EBB and then upload a file. Or 2. EDI adapters that are designed to fully automate the scheduling process with a two-way EBB communication featuring no manual intervention. Note: For no manual intervention, a company’s energy trading & risk management, or ETRM system must be integrated with the scheduling EDI adapter; this can be a tough task for older technologies.

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Pioneer Announces ETRM System Enhanced Front office and Deal Capture

Post by admin on November 28, 2011

Pioneer has made significant improvements to its premier, Top-rated Commodity, Energy Trading & Risk Management – C/Etrm enterprise software solution called “TRMTracker” :

Know Risk. Know RewardTRMTracker is a comprehensive, enterprise C/Etrm software solution for companies with physical and financial commodity exposure.  TRMTracker’s advanced, all web-based architecture is ideal for companies that are looking to upgrade their trading and risk systems with the latest C/Etrm technology.
The recently enhanced front-office is designed to improve the user, trader experience, including the ability to move, hide and rename input fields for a more personalized user experience. “This improvement greatly enhances the trader experience allowing them to easily customize the already easy-to-use deal entry templates,” said Bill Molnar, Pioneer’s Director of ETRM & EMIS Solutions for the America’s.
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Advantages of Agile, Rapid Iterative Delivery of CTRM/ETRM Solutions

Post by admin on August 10, 2011

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In today’s ever changing C/ETRM business environment, companies seeking C/ETRM software solutions must be careful to select solutions that can easily meet their requirements. Our experience with companies seeking C/ETRM software is that most clients require heavy customization to meet their unique business requirements. Most companies realize that buying off-the-shelf C/ETRM software systems at best will meet 60-80% of their needs. It is the other 20-40% of customization that clients must be aware of the costs and risks associated with delivery. In addition, companies need to carefully consider the cost of change management that can drastically increase the total cost of ownership of a C/ETRM solution over time.

There are a number of disadvantages to traditional methods of C/ETRM system software deployment, and failure to deliver is a common risk with even the most seasoned vendors. Traditional methods often lead to very long, expensive, highly disruptive implementations that fail to meet targeted business objectives. Why, because traditional, hard coded, C/ETRM technologies are often rigid in nature forcing companies to comply with the way the product manages the commodity instead of modeling the commodity the way they want to manage the asset. This often results in discontent from the users that are forced into a box. Also, the very nature of hard coded software requires lengthier and more costly delivery cycles because of the architectures inability to easily meet unique business objectives. Typically, a company’s return on investment is not realized until long after the project kicks off, if at all.

Longer implementations cause increased business disruption, and allow the project to be vulnerable to substantial expansions of scope and cost. As the project spans over a long time period, a company’s business needs often change and users will naturally have requests for additional functionality. These change requests must be added to the project scope, causing further increases in the project timeline, and higher costs of implementation.

Once implemented, change management often continues as companies business models evolve. C/ETRM solutions must be able to easily adapt to the ever changing business landscape. For example, the challenge of complying with Dodd-Frank requirements has companies, consultants and vendors positioning to meet the reporting requirements.  Change management is often overlooked in the C/ETRM evaluation process. This can lead to cost overruns for years as expensive ongoing consulting is needed just to meet basic demands.

In contrast, Pioneer Solutions’ agile rapid iterative delivery enables organizations to quickly realize their targeted business objectives at a reduced project cost and with minimal risk. The mere nature of our Financial and Regulatory Risk Management –FARRMS architecture that requires “no coding” to meet unique business requirements is ideal for a true agile delivery methodology and for maintaining ongoing change. In addition, FARRMS’ template and formula-driven architecture is ideal for companies with unique business requirements because it is easily configurable with no coding needed allowing Pioneer professional services to model our clients business the way they want to view, manage and report the portfolio.

Rapid iterations that quickly meet objectives are the goal of our project team where each iteration is limited in scope and is focused on a specific customer objective. Our targeted approach enables continuous identification and management of project risks, and increased flexibility to manage change. As an organizations complex business processes evolve, adaptations are made quickly by leveraging the easily configurable (no coding changes are necessary to conform) FARRMS architecture that empowers the business user, not IT or consultants with the ability to manage change.

Pioneer’s unique delivery culture fully engages the customer throughout the process, with every effort centered on a specific business objective. The result is reduced project cost, minimized risk, and timely delivery of quality software that is directly aligned with customer requirements. This successful approach has been noted by the C/ETRM community with Pioneer Solutions being recognized for its superior “Customer Service” two years running in an Energy Risk Independent C/ETRM vendor survey.

“Pioneer Solutions’ rapid iterative delivery process allowed us to quickly replace our existing system for sourcing transactions within time and budget” said the Project Manager of a large Utility

We encourage you to visit us at www.PioneerSolutionsGlobal.com to find more on how we are changing the way ETRM-CTRM systems are implemented and managed.

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