Driven by the digital revolution that is transforming industries and economies, organizations are navigating a rapidly evolving environment of customer expectations and new competitors that demand action to accommodate changing priorities. Engaging with this environment calls for C/ETRM solutions that are highly configurable and scalable to provide new capabilities and drive results, and doing this reliably at lower cost. C/ETRM systems that take advantage of Service Oriented Architecture (SOA) allow for a more agile set of applications, while delivering ease of integration, being able to run in a true cloud architecture, and provide performance advantages when compared with newly hyped but unproven technologies. With that in mind, how will companies balance stability and dynamism? An Agile C/ETRM driving Agile Transformation.
Next-generation C/ETRM solutions have emerged based on what the market participants have stated they are looking for. After all, they not only have experienced two decades of C/ETRM implementations, but also several years of economic hardship. As a result, they are trying to reinvent themselves, pursue an agile organization structure to navigate faster changing markets, and have set their sights on reducing cost of trading in an effort to become more efficient, increase profits or asset values. That’s where Pioneer Solutions’ value proposition comes in, delivering what the market demands: less costly solutions and proven functionality that is implemented faster with reasonable flexibility as companies’ businesses change.
Agile organizations will need to provide products and services that can rapidly meet changing market and competitive conditions. At the same time, they seek a stable foundation while being able to support the dynamic capabilities that can adapt quickly to new challenges and opportunities.
Architecturally, experts recommend implementing a modular-based software architecture. While newly hyped technologies are announced, SOA is better suited for large and complex business application environments, such as a C/ETRM system, that require integration with many heterogeneous applications.
Functionally, a next-generation C/ETRM system will not only bring the architecture but also the automation capability to allow companies to do more with less. This means on the architecture side it will have the ability to deliver an end-to-end integrated solution as well as standalone modules. From an automation perspective, it can model simple to complex processes through configuration without coding.
Unparalleled configurability will allow to accelerate your new product offerings in the pipeline: A flexible, hierarchical book structure along with template and formula-based software will support changing business processes 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.
This includes providing functionality to customize within the boundaries of the system avoiding impact of software upgrades, such as user defined fields and user defined tables that can be added to extend data models on deals, counterparties etc, mapping tables to allow users to easily add data such as tariffs or taxes, time series data support, data import/export rules, and innovative reporting including Excel Add-in.
Ease of integration is another area for which legacy C/ETRM are not well equipped. Traders and portfolio managers and their colleagues in risk management, need to have access to have the information about their business at their fingertips. And this information is coming from multiple information sources. The SOA architecture of Pioneer Solutions’ next-gen C/ETRM system has embedded middle-ware technology that supports ease-of-integration including market-connections. This includes support for a variety of formats for both inbound and outbound interfaces, from user configurable flat-file methods, to XML, SOAP webservices, FIX APIs, and REST based webservices.
Today’s environment is pressing organizations to become more agile. Forward looking companies are leveraging next-generation solutions to accomplish what their competitors are still doing with inadequate systems that can’t solve their challenges. With Pioneer Solutions, you not only invest in solutions that do what was done before better, faster, easier, and cheaper but also enable an agile transformation, thereby a means to unlock value and enable quick reactions to new business needs.