ETRM Vendor Selection vs. ETRM Vendor Origins – Does It Matter?
As the energy market floods with Energy Trading and Risk Management (ETRM) vendors, there’s a growing misconception that ETRM vendors are all created equally. However, is this impression true, or should you be turning your attention to an ETRM system catered to your business’ needs?
In short, exploring an ETRM vendor’s origins will begin to expose the foundational blocks of how it was initially built to support which commodities and trading markets. In doing so, you will begin to uncover which core strengths the ETRM system that you’re considering were built on. Then you’ll be able to better match these core strengths against your business requirements and critical success factors. So, why might this be important?
Well, let’s consider an ETRM system that originated from a Financial Accounting System (FAS) is natively wired to better handle banking transactional functions. Similarly, an ETRM system that originated from a Transportation Industry background is designed to effectively manage Coal Railcar or Oil Barges transportation logistics.
Hence, depending on your business requirements, matching those requirements with an ETRM solution vendor’s native core strengths will better ensure critical project deliverables. Therefore, ETRM vendor selection should be based on your business success model, needs, compliance, and requirements!
OATI has been offering ETRM solutions for over 23 years to a variety of customers within our complex Energy Industry. Hence, with our comprehensive ETRM solution, you can easily track the life cycle of business deals, maintain in-depth awareness of the market, control risk, and ensure adherence to regulatory changes. To learn more about what our ETRM solutions can do for your business, contact email@example.com.
About the Author
Alex Battistessa has over 19 years of experience in the ETRM industry and delivering software solutions for utility customers across North America. Mr. Battistessa is currently an Account Executive at Open Access Technology International, Inc. (OATI). Experience as a Manager, Portfolio Load Management allows him to develop strategic recommendations with respect to a client’s ETRM business needs. Throughout his career, Mr. Battistessa has been involved in a variety of technical, implementation, program management, sales, and general management roles.