Each year, industry experts and participants look to the Energy Risk Software Rankings as a means of subjectively valuing various ETRM software vendors. The rankings are generated from the results of a survey given out by Energy Risk that asks energy trading firms to nominate ETRM vendors, implementation specialists, data vendors and data managers they think shine above the rest. This year’s survey, carried out during November 2014 and January 2015, received 282 valid responses. Pioneer Solutions was ranked in the Top 5 for 20 Different Categories! The highlight of this year’s rankings, however, was being ranked #1 for Project Delivery On-Time and Within Budget.
According to Energy Risk, integrating data and regulatory compliance were the two largest IT/systems challenges for this year’s survey participants.
Survey participants were asked to rate their level of preparedness for four types of regulations: Dodd-Frank, Emir, Remit and Mifid II. While 50.8% of participants classified their level of preparedness for Dodd-Frank as “Ready,” only 20.3% said their firm’s systems were “Ready” for Mifid II. 45% said their firm was “Ready” for Emir and only 24.9% for Remit.
2015 Software Budgets
36.5% of participants said their software budgets increased from 2014’s budget, 21.5% said their budgets had decreased and 41.9% said their budget stayed the same as 2014. Despite these percentages, however, 65.4% of respondents said they had plans to invest over and above general maintenance for software systems this year.
Pioneer Solutions Rankings
While Pioneer ranked in only 15 categories in 2014, that was more than double the number of areas in which it ranked the previous year. Much like the flexible, easy-to-configure C/ETRM products we offer, our company is also always changing and adapting to the needs of our clients and industry trends/shifts. It’s clear that industry experts agree that Pioneer Solutions offers a superior product at a lower total cost of ownership.Uday Baral, President of Pioneer Solutions, commented, “Each year, we are recognized for excelling in increasingly more categories on the Energy Risk Software Rankings, validating the claim that we offer superior products at a lower total cost of ownership. Ranking within the top 5 vendors for 20 different categories and being voted as #1 for Project Delivery On Time and Within Budget in 2015 is testament to the exceptional quality of both our products and customer support services.”
The 20 categories we ranked within the Top 5 for 2015 are listed below.In addition to coming in first place for Project Delivery On Time and Within Budget, Pioneer was recognized for the sixth year in a row for Customer Support/Services.
About Pioneer Solutions
Pioneer Solutions is a global provider of next generation CTRM, ETRM, environmental management and financial and regulatory compliance solutions. Offering the latest in business processing capabilities with a modern data structure, Pioneer’s products offer the user a configurable environment that allows for customizable templates for STP 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.