With so much coming at you – from market volatility to digitization to accounting practices to regulations – it is understandable that one may try to avoid facing those realities and, as they say, bury one’s head in the sand. However, as many of those realities are affecting critical areas of your business, such a natural reaction is unlikely to work. Yet in a time where trading and risk management operations demand fle xible and scalable C/ETRM solutions, companies continue to expose themselves by using disconnected Excel spreadsheets or underperforming legacy systems. Being surrounded by increased complexity, companies equipped with a next generation C/ETRM system are positioned to not only manage their risk, improve profitability and ensure compliance, but also benefit from new opportunities. Are you: Missing Out with the Ostrich Approach?
Driven by continuous change, challenges and chances, trading companies are forced to look at automation, optimization, control, and analytics, while lowering their cost of trading. Many of them are held back by underperforming software, either disconnected spreadsheets, legacy in-house built systems, or vendor-supplied solutions incapable of near real-time position updates, adaptablity to new business processes, or delivering the technology for seamless integration and cost-effective deployment options.
Time to pull your head out of the sand! Forward looking companies are leveraging next-generation solutions to accomplish what their competitors are still doing with the inadequate systems mentioned above. At the same time, they don’t bury their head and blind-side themselves from next-generation CTRM solutions that can solve problems that can’t be solved with established products.
So, while you may, like the ostrich, think you can’t run away from your situation and therefore bury your head in the sand, the good new is that there is a way out: By giving up your security of the known – the old adage “you can’t get fired for buying IBM”, you will find far a superior solution at your disposal in a true next-generation C/ETRM enabling you to pursue real progress and create new opportunities: TRMTracker.
Here is a testimonial from a customer who went before you:
“At first, during the procurement phase, I thought they were overselling their configurability and ease of use of TRMTracker, but after we dived deep into it, we realized that they were actually short selling it. I think you can do whatever you need to do in TRMTracker, once you know your way around. Of course, there are some concepts that you need their developers for, but over time, your dependency on them significantly decreases; hence, the budget you need to allocate.”
Commodity markets continue to experience volatility. Those companies that do not use the ostrich approach know that also their business model needs to change, not just the technology. 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 those famous companies that put their head in the sand and missed the next wave. Don’t become a “Kodak Moment but let Pioneer Solutions help you to change your playbook with a modern C/ETRM.
There are a couple of areas where Pioneer’s state-of-the-art C/ETRM system can help your efforts to prevent the next wave from catching you.
⦁ Its next-generation technology will modernize your operation model as you play defense: All your data is captured in a single integrated system, where workflow management allows you to implement new company policies for limits, risk, credit and associated approvals and notifications. As a result, your front-office will improve earnings through detailed insight and full control in the commodity trade chain including real-time open positions, inventory levels, etc. It will deliver greater efficiency with reduced trader’s time on routine tasks from deal capture to approval to counterparty status. Accurate valuation of assets, positions, inventories etc., will reduce risk for losses, while improving predictability in the Profit & Loss. Finally, a reduction in time spent on settlement activities and invoice verification will lead to lower back office cost as the business expands.
⦁ Unparalleled configurability will allow you to accelerate your new product offerings you have in the pipeline as you play offense: A flexible, hierarchical book structure along with template and formula-based software will support your changing business process while providing a high-degree of user control for less vendor reliance. A system solution that is scalable and highly configurable offers the flexibility to be lower cost for the smaller company and minimizes additional cost when ramping up or changing course. Where regular C/ETRM systems only provide the ability the settle and invoice standard trades/contracts, a formula-based settlement module featuring charge types and billing determinants enables the customer to device and introduce more complex structured products for market differentiation.
Modern business is about speed plus disruption. In times of disruption, the current playbook and legacy systems just don’t work. TRMTracker is a proven C/ETRM solution selected by decision-makers looking for improvements and technology that deliver measurable incremental gains, both functionally and financially. Are you missing out with your ostrich approach?