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Alleviate Challenges & Ensure Timely Financial Insights

End-of-day (EOD) is a process that transitions intraday processes to official processes after the publication of official prices at the close of business hours. It involves calculating simulation results like PnL, MtM, and inventory. EOD processes ensure system readiness for the next trading day and provides crucial financial information for traders, managers, and risk analysts to assess profitability, make informed trading decisions, evaluate traders, and report portfolio risk to stakeholders.

The top stakeholders of the End-of-Day (EOD) process include the front office and middle office, but they can also provide valuable insights to the back office accounting and compliance teams.

Common Challenges in EOD Process

One of the significant challenges in the End-of-Day (EOD) process is the persistent issue of delayed valuations. Delayed valuations usually have the following impacts on the business:

Affect Financial Assessment Timeliness.

Hinder decision-making for risk managers.

Increase operational time duration.

Stages of End-of-Day (EoD) Processes

Shifting right to an Event Driven EoD can be achieved through the following approaches

Vertical (Processes)

By running EOD specifically for trades with available prices, delays can be minimized, ensuring that not everything is delayed.

This allows for a more focused and efficient execution of EOD, considering the specific requirements and characteristics of different commodities and regions.



Horizontal (Domains)

Updating and modernizing the EOD system infrastructure to leverage advanced technologies and capabilities that enhance performance, reliability, and scalability.

Running simulation jobs simultaneously and in parallel, utilizing a grid system and distributing job processing across different engines. This approach ensures efficient utilization of resources, minimizes bottlenecks, and enables effective monitoring of job progress.



Key Metrics to Guide Progress: Transition and Maturity in the Stages of the EOD

By embracing the following approaches and metrics, organizations can effectively transition to an Event Driven End-of-Day (EoD) model :

PnL and exposure reconciliation

Implementing reconciliation processes between Endur Simulation results and the final reporting layer at different levels, such as portfolio or business unit levels, to ensure accuracy and consistency.

End-of-day performance analysis

Conducting regular analysis of EoD performance, comparing baselines with monthly trends, to gain insights into various business circumstances and develop effective strategies for improvement.

Time taken for price availability

Monitoring and tracking the time taken for price availability, aiming to minimize delays and optimize the overall EoD process.

System availability trend

Tracking and analyzing trends in system availability, including SLA misses, system delays, and data quality issues, to identify areas of improvement and maintain a high level of system performance.

This shift brings several benefits, including enhanced efficiency, agility, and overall maturity of the EoD processes. The Event Driven EoD model allows organizations to proactively respond to market events, data availability, and trading activities, resulting in faster and more accurate EoD processes.

Accelerate the Transition to Event-Driven EOD Processes

In our experience the following approaches have been instrumental in driving accelerated progress towards event driven EOD processes and achieve desired business outcomes in a timely manner. 

Data-Driven Approach

Our approach is to assess the effectiveness and suitability of the solution design criteria within the firm’s book structure, and helps in evaluating various factors.

Domain-Driven Approach

Our approach focuses on performing functional analysis of processes based on commodity and market domains, and has the following characteristics 

Seamless End-of-Day Operations with Value Creed

Value Creed offers a comprehensive suite of services to address the unique needs of businesses in the EOD domain. Our expertise allows us to excel in reengineering EOD processes, optimizing them for enhanced efficiency and performance that fits for your business needs. Partner today and benefit from Value Creed’s deep industry knowledge, innovative solutions, and risk management capabilities with Endur, empowering your business to overcome EOD challenges through automation and drive sustainable growth.

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Empower your Energy Trading by upgrading to the latest Endur version

In today’s fast-paced CTRM industry, agility is key to staying competitive in the face of evolving market conditions. While upgrades may present their own set of challenges, investing in the upgrade to Endur V23 can unlock a multitude of advantages for commodity trading and risk management firms. These include enhanced performance and scalability, advanced reporting capabilities, strengthened risk management features, seamless system integration, and an elevated user experience.

Drive Efficiency and Insight with Endur’s Business Advancements

Endur v23 brings the highly robust native interface EDI, resulting in a substantial 70% reduction in operational errors due to its adherence to standardized data formats for efficient data exchange with pipelines. This significant improvement is attributed to the automation of processes facilitated by EDI.
The acknowledgments are an additional feature of V23 that play a crucial role in Endur as they provide valuable information regarding the successful transmission and receipt of data. By receiving these acknowledgements, Endur can ensure data integrity and accuracy, enabling real-time updates and facilitating effective decision-making.
Endur now enables the trading of Hydrogen Liquid commodities similar to LNG with the new functionality for

Endur v23 offers the advantage of modeling and scheduling a new commodity, Hydrogen Gas, providing expanded opportunities for trading and management within the system. ‘Global hydrogen trade to meet the 1.5°C climate goal’ playing a significant role in future hydrogen trading activity. As renewable costs decline and technology advances, one-quarter of global green hydrogen demand could be met with trading activity through pipeline and ship trade. 
Traders using version 23 are experiencing significant benefits, as it offers an enhanced decision support model. This includes the availability of a Daily PnL chart at the deal and nomination level, enabling them to identify the optimal movement date for delivering an unscheduled parcel. This feature assists traders in choosing the most effective pathing route and tenor across different modes of transport & movement dates to lower the market risk and the transaction costs associated with service providers.
The new feature allows users to input a percentage value for forecasting on the deal leg in Endur, specifically for LNG/gas. Rather than entering daily forecasts, users can enter a single percentage representing the forecasted amount for a specific period. This reduces the need for repetitive manual data entry, making it more efficient and convenient for users working with LNG/gas commodities.
Version 23 offers additional APM filters and pivots such as for Strategy Info. This enhancement allows for a more detailed analysis of results in real-time on the APM pages. Traders and the risk team can now access even more granular level real-time data, enabling traders to configure better APM visualizations on strategy-level position management scenarios such as inter-strategy parcel management, position sweeping, and back-to-back passback exposure.
Adding to it, an even more detailed selection for PnL calculations is now available with the ability to choose Reval type in APM service, thereby enhancing the ability of the APM module to incorporate simulation results calculations having a dependency on prior reval type such as PnL movements, Day-on-Day MtM, prior accrued interest, etc.
To enhance the user experience, significant improvements have been implemented in the Volume Reconciliation screen streamlining the reconciliation process and providing real-time insights. Users can now access volume changes directly on the screen, allowing them to view the data even before the deal is processed.
As part of the new Correction Payment functionality, complex Power purchase agreements can now be modeled more effectively. This includes the ability to generate multiple invoices at predefined dates within a given payment period, offering greater flexibility and accuracy in correcting true-up payments and adjusting to changes in market data, volumetrics, discount rates, and other factors impacting payments.


Cutting-Edge Technological Advancements for Enhanced Trading and Risk Management

Streamlined Connex Standard Gateways

Version 23 showcases enhanced efficiency when it comes to Out-of-the-box integration for Connex Standard Gateways, and automated confirmation matching for power and natural gas trades via integration to Fidectus for EFET ECMS specification. Streamlining the confirmation process minimizes errors and enhances trade settlement capabilities.

Enhanced Connex Lite

V23 has enhanced Connex Lite by improving SFTP functionality and the integration of a REST Client bridge, ensuring smooth data transfer and improved connectivity. This update offers broader coverage for various market participants, including Swap Data Repositories and modern data providers using REST. Additionally, the implementation of a decoupled architecture within Endur results in improved time to market.

Real-Time Risk Management and Analytics

Real-time streaming of risk & exposure management coupled with cutting-edge engineering stacks such as stream processing for apps built on Kafka, the centre platform for streaming data – unlocking a variety of use cases such as custom dashboards, real-time trade analytics, shorter feedback cycle between Pre-trade analytics and ETRM, Data-as-a-service use-cases for Endur.

Seamless Integrations

The new version has been designed to integrate more seamlessly with other systems, and other trading and risk management platforms. This makes it easier for firms to integrate Endur into their existing technology infrastructure, ensuring ability to experiment, ease in deployment and faster time to market. 

Improved User Experience

An under-rated feature but equally important, more background colors are now available to distinguish between different Endur environments that helps users with color blindness and the aligns to the UX world moving more into dark themes across platforms.

Maximize Efficiency and ROI: Harness the Power of Value Creed's Upgrade Expertise

Endur V23 presents a diverse array of fresh functionalities and improvements, positioning it as an appealing choice for companies seeking to enhance their capabilities in commodity trading and risk management. Leveraging Value Creed’s extensive expertise in Endur upgrades, businesses can attain agile practices in their CTRM platform upgrades, ultimately optimizing system value and boosting efficiency levels.

Seamless Upgrades, Unparalleled Results: Partner with Value Creed for Business Success

With a deep understanding of system enhancements and best practices, Value Creed empowers businesses to maximize their investment and stay ahead in a rapidly evolving technological landscape. By leveraging our expertise, CTRM companies can unlock the full potential of upgraded systems, gaining access to new features, improved performance, enhanced security, and optimized workflows.

Ready to Get Started?

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Empower your Energy Trading by upgrading to the latest Endur version

Companies perceive an Endur upgrade as a compelling opportunity to consolidate numerous fragmented systems, spreadsheets, and customized solutions into their existing Endur platform. The objective is to minimize the IT footprint and extend the time until the next upgrade requirement. Endur upgrades are particularly relevant in business scenarios such as mergers and acquisitions, market expansions, and the inclusion of new asset classes.

Many companies have contractual obligations to transition to a newer version of Endur once the GA period of their current version has ended. Failure to comply with these contractual terms may result in the imposition of maintenance fees or penalties. The usual tenor is two years maintenance window from OLF.

Adherence to IT governance and cybersecurity best practices compels numerous clients to prioritize the regular upgrading of their mission-critical software, including Endur, to the latest versions. This proactive approach helps mitigate the risk of potential exploits, vulnerabilities, and outdated loopholes, ensuring a robust and secure system environment.

Within commodity markets, significant advancements are observed across various classes, including advanced analytics, rapid time to market, regulatory technologies, increased trading volume, and enhanced integration capabilities. These advancements necessitate that companies stay at the forefront of cutting-edge technology stacks, which are typically delivered through upgraded versions of Endur. By embracing these upgraded versions, clients can leverage the latest features and functionalities, ensuring they remain competitive and aligned with industry trends.

Upon evaluating their system architecture, clients often discover the presence of non-compliant, out-of-support, or vulnerable components. Addressing the need to upgrade these components subsequently triggers a knock-on demand, prompting a demand to upgrade the Endur platform itself in order to leverage the enhanced capabilities of these upgraded components.

While upgrading Endur may initially seem costly, the reality is that older versions of Endur tend to have more issues, resulting in higher costs. The expenses associated with business disruptions caused by an unstable Endur can rapidly escalate. Investing in an Endur upgrade can effectively mitigate these costs and minimize the potential disruptions to the business.

Upon revisiting past events, it becomes apparent how a CVE 10 score vulnerability on Log4J (CVE-2021-44228) can wreak havoc, causing disruptions and necessitating IT teams to seek alternative solutions for critical JAR dependencies in Endur. Such technological risks, coupled with associated business risks like data theft, fraud, and exposure of trading strategies, can be effectively mitigated by opting for an Endur upgrade. By choosing to upgrade, organizations can proactively address these risks and safeguard their systems and sensitive information.

Experience the Enhanced Capabilities of Endur Upgrade

Better decisions towards Buy-vs-Build Conundrum

Since the release of Endur v14, there has been a significant surge in the introduction of new features and functionalities. Notable enhancements include advancements in APM packages, intraday aggregation modules, and DMS. Previously, these aspects necessitated customization efforts, leading to increased complexity in the Endur solution landscape. However, now clients have the option to migrate these areas to out-of-the-box features, effectively reducing complexity and aligning with the native capabilities of the product.

Upgrade of Existing Modules and Features

Enhancements in various modules and features offer superior software architectures and future-proofing capabilities. Examples include enhanced deal toolsets, scheduling and logistics integration, real-time reporting enhancements, 5-minute granularity in PWR, Park and Loan Toolset, Liquefaction Facility modeling instruments, LNG value chain enhancements, and new option valuation models.

Take Advantage of Cloud

Running Endur on your own cloud infrastructure can greatly alleviate concerns about shared tenants and data egress. Embracing cloud solutions facilitates a smooth transition to other use cases by leveraging additional cloud services within the same tenant or subscription. For instance, you can leverage the streaming risk modules in Endur to stream real-time PnL data to an MSK cluster in AWS, and further analyze it using the Kinesis Analytics engine to gain valuable insights.

Security, Stability & Scalability

Newer versions of Endur have made significant improvements in security privileges, groups, roles, AD authentication, and infrastructure stability. For example, Webservices underwent an upgrade of Tomcat server 8.5, enhanced document locking based on security, additional privileges for imbalance processing with cashout price of zero etc. This is just a glimpse of the extensive list of enhancements that provide enhanced security, stability, and scalability across various modules.

Reducing the Cost Footprint

Upgrading to a newer version of Endur brings about a reduction in both direct and indirect expenses, encompassing licensing, support, and technical debt. Achieving a balance between agile software delivery through smaller iterations and cost management roadmaps is crucial in order to effectively control the overall costs associated with an upgrade.

Endur upgrades can follow different methodologies

In the Endur Landscape, the following are the upgrade methodologies that are prevalent :

Homogenous Upgrade (like-to-like)

Heterogenous Upgrade – See differences in landscape and software compatibility matrixes but needs more testing efforts

Upgrade with Reimplementation – Focuses on reimplementation of epics and features

Value Creed’s expertise in Endur upgrades helps you assess over 30+ parameters and planning questionnaire which can help you land in the right upgrade methodology.

Value Creed Advises to take into consideration the following questions:

Homogenous Upgrade Heterogenous Upgrade Upgrade with Reimplementation
Do we need new features in newer versions? Yes
Can we live with module level upgrade capabilities? Yes Maybe
Do we see breaking changes between two versions and does this affect us? Maybe Yes
Is this just an upgrade of Binaries? Yes
Is this upgrade involving a DB version move? Yes Maybe
Do we see changes to the software support matrix? Yes Maybe
Do we foresee changes in the licensing terms? Maybe Yes Maybe
Do we need the same features implemented in both versions be parallel in run for a period of time? Maybe Yes
Is your future state vision for commodity trading significantly different from your current operations? Yes

Our recommendations on key principles for achieving a successful Endur upgrade

How Can Value Creed Assist You on Your Endur Upgrade Journey?

Upgrade with On-time & On-budget Obligations

We provide upfront cost estimates for upgrades, keeping in mind the project scope. This assists clients in mitigating concerns related to cost overruns, resource planning, and timeline risks.

Help You Land Right License Costs

We review different user-type and module-level licenses to help you gain clarity on licensing costs and their business justifications. This review process helps optimize overall operating expenses.

Help Expedite Data Migration, Setup & User Training

We bring standard checklist template of data objects and data setups along with associated training materials to all our upgrade projects. This helps get a jump start on upgrade journey instead of spending time discovering.

Support Your Endur After Upgrade

We manage and deliver backlog items descoped during upgrade alongside a strong operational landscape without cutting corners on good architecture and design principles used in the upgrade project.

Integration Management during Endur Upgrade

Extensibility framework in Endur has several choices with a number of moving parts. We securely fasten all the moving parts alongside your integrations during an Endur upgrade.

Customize and Configure Endur

We help you configure and customize your Endur modules including configuration migrations, forward compatibility, transaction/relational/reporting data migrations, code migrations, handling of deprecated APIs and build dependency migrations.

Harness Cutting-Edge Technology with Endur Upgrade

Harness the latest advancements in Endur technology with Value Creed’s deep knowledge and expertise, to streamline your trading operations and stay ahead in the commodity market. Our team will guide you through a smooth transition, ensuring a seamless upgrade process and maximizing the benefits of this powerful and complex platform. 

Ready to Get Started?

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Ensure Consistent Delivery of High-Value Applications and Services

Endur is a complex and sophisticated system that requires a high degree of performance to function effectively. There is an increasing focus on architecture, design and implementation choices to enhance application performance, and adopt practices to help mitigate performance risks before development efforts progress to additional phases. Performance engineering is a critical aspect of ensuring the system operates efficiently and effectively.

Roadblocks Impacting your CTRM Performance

Business value prioritized on top of technical value combined with loose engineering standards can often lead to growing technical debt backlog.

Impact of neighboring process being run. For example, nomination updates being impacted due to invoicing activities.

End of Day failures pile-up and often lead to compounded issues (day-on-day SIMS etc.) leading to performance bottlenecks.

New changes introduced, often do not comply to overall SLAs & NFRs leading to overall depreciation in quality.

OLF recommends several good practices involving housekeeping of application, database & infrastructure. Often, these are missed.

Accrue the benefits of Full Maturity with Value Creed’s Performance Engineering Maturity Model (E-PEMM)

Value Creed’s performance maturity model provides a framework representing the different aspects of performance engineering practice and list of essential capabilities that companies using Endur should search for. This helps CTRM companies to benefit from an effective performance culture not only from a technological point of view but also for a business perspective, reducing the risk of major incidents but also increasing revenues and avoiding costs.

Endur - Performance Engineering Maturity Model (E-PEMM)

Leverage Value Creed’s Implementation Approach to Drive Value

Performance engineering is a critical aspect of ensuring that Endur operates efficiently and effectively. By applying performance engineering techniques organizations can identify performance bottlenecks and implement solutions to improve system performance. With proper performance engineering, Endur can handle high levels of traffic, provide accurate and timely trade capture, risk management, settlement, and accounting, and enable organizations to make informed trading decisions.

Performance Engineering Runway

Establish Scalable Foundation to Enable Long-Term Growth

With Value Creed’s Endur expertise optimize the performance and efficiency of your Endur system today. Enhance your system’s speed, scalability, responsiveness, and resource utilization to meet the demanding requirements of the trading environment. We ensure focus on identifying and addressing performance issues at various levels, including code, database, infrastructure, and system architecture. Finally, providing users with a responsive and scalable platform.

Ready to Get Started?

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Five Ways CIOs Can Leverage RightAngle Expertise On Demand

Modern business demands require more than merely managing the status quo for CTRM platforms. Whether executives seek to integrate their platform with other systems, provide data transparency to front office users, for instance, or reduce their total cost of ownership for the system, expertise is demanded.  

Value Creed’s teams of technical and functional experts enable your organization to achieve your goals at every stage of the RightAngle journey in five unique ways.

Holistic oversight

Teams mired in RightAngle maintenance must allocate their time to short-term needs, rather than strategic programs.
Trade_Data

Increased data capabilities

Now more than ever, data is seen as a corporate asset. Integrating your RightAngle with data sources makes business use of this asset possible.
Managed

Wide-ranging expertise

In-house teams build skills and knowledge, yet Value Creed's technical and functional expertise aids in fulfilling complex demands.
Dual_time_zone

Dual-time zone model

Latent issues are resolved overnight thanks to teams working across time zones for more efficient success.
Globe

Global experience

Our experts have worked with CTRM teams across the globe, providing a wealth of insight to each valued client.

Why Value Creed's Expertise On Demand is a Game Changer

There was a time when in-house RightAngle experts could effectively handle most issues in their commodity management software. Yet the 24/7 nature of modern commodity trading and risk management requires new, more creative solutions for a rapidly evolving market.

Value Creed’s Expertise on Demand offering bridges the gap between the client’s bottom-line needs and the decades of experience available from an outsourced team. This flexible alternative to full-time staffing enables your IT budget to go further for key programs like these:

In order to meet the demands of cost of ownership improvements, Value Creed’s dual timezone support gives CIOs the capacity they need for diverse projects. These may include: scoping and developing new Endur functionality, creating and testing custom extensions, outsourcing repetitive business processes, building dynamic dashboards for decision making and monitoring performance overnight and during the work-day.  

istock-01

Data Smart™ Solutions for Every Level of Your Business

Data Smart™ desilos your data and places it in the hands of key users, data analysts, and decision-makers. This innovative solution engineers a complete data catalog, transcending data quality issues and optimizing DataOps methodology.

Three Business Critical Dimensions of CTRM Know-how

Each individual working within an Expertise on Demand team possesses a multitude of knowledge from working across multiple accounts. They are familiar with a platform not from a single previous client, but in many different environments, making them more agile when approaching familiar challenges.  This uniquely specialized expertise pays off in a number of ways:

Integration
A given vendor can lend valuable support in the early days of implementation, yet when it comes to scaling CTRM needs with market growth, integrations are essential. ValueCreed’s Expertise on Demand consultants can re-architect entirely new solutions or supply key performance upgrades that vastly reduce performance times, often from hours to minutes.
P&L Reporting
Reducing the performance time within CTRM reporting opens up more possibilities for data. Profit and Loss statements, in particular, benefit from on demand expertise, given the up-to-the-minute nature of the data needed to gain key insights.
Inventory Valuation
Objective insights in inventory valuation are essential. A given CTRM software vendor often lacks the in-depth knowledge of a company’s inventory assets and valuation methods. On demand expertise tailors solutions to valuing inventory, no matter the size or shape.
Previous slide
Next slide

To a team of on demand CTRM experts, no problem is completely new. Successful businesses know what they need to accomplish to meet their long and short-term goals—Value Creed’s expertise on demand bridges that gap between ‘would’ and ‘can.’

 

Ready To Get Started?

Let Us Know

Five Ways CIOs Can Leverage Endur Expertise On Demand

Modern business demands require more than merely managing the status quo for CTRM platforms. Whether executives seek to integrate their platform with other systems, provide data transparency to front office users, for instance, or reduce their total cost of ownership for the system, expertise is demanded.  

Value Creed’s teams of technical and functional experts enable your organization to achieve your goals at every stage of the CTRM journey in five unique ways.

Holistic oversight

Teams mired in Endur maintenance must allocate their time to short-term needs, rather than strategic programs.
Trade_Data

Increased data capabilities

Now more than ever, data is seen as a corporate asset. Integrating your Endur with data sources makes business use of this asset possible.
Managed

Wide-ranging expertise

In-house teams build skills and knowledge, yet Value Creed's technical and functional expertise aids in fulfilling complex demands.
Dual_time_zone

Dual-time zone model

Latent issues are resolved overnight thanks to teams working across time zones for more efficient success.
Globe

Global experience

Our experts have worked with CTRM teams across the globe, providing a wealth of insight to each valued client.

Why Value Creed's Expertise On Demand is a Game Changer

There was a time when in-house Endur experts could effectively handle most issues in their commodity management software. Yet the 24/7 nature of modern commodity trading and risk management requires new, more creative solutions for a rapidly evolving market.

Value Creed’s Expertise on Demand offering bridges the gap between the client’s bottom-line needs and the decades of experience available from an outsourced team. This flexible alternative to full-time staffing enables your IT budget to go further for key programs like these:

In order to meet the demands of cost of ownership improvements, Value Creed’s dual timezone support gives CIOs the capacity they need for diverse projects. These may include: scoping and developing new Endur functionality, creating and testing custom extensions, outsourcing repetitive business processes, building dynamic dashboards for decision making and monitoring performance overnight and during the work-day.  

istock-01

Data Smart™ Solutions for Every Level of Your Business

Data Smart™ desilos your data and places it in the hands of key users, data analysts, and decision-makers. This innovative solution engineers a complete data catalog, transcending data quality issues and optimizing DataOps methodology.

Three Business Critical Dimensions of CTRM Know-how

Each individual working within an Expertise on Demand team possesses a multitude of knowledge from working across multiple accounts. They are familiar with a platform not from a single previous client, but in many different environments, making them more agile when approaching familiar challenges.  This uniquely specialized expertise pays off in a number of ways:

Integration
A given vendor can lend valuable support in the early days of implementation, yet when it comes to scaling CTRM needs with market growth, integrations are essential. ValueCreed’s Expertise on Demand consultants can re-architect entirely new solutions or supply key performance upgrades that vastly reduce performance times, often from hours to minutes.
P&L Reporting
Reducing the performance time within CTRM reporting opens up more possibilities for data. Profit and Loss statements, in particular, benefit from on demand expertise, given the up-to-the-minute nature of the data needed to gain key insights.
Inventory Valuation
Objective insights in inventory valuation are essential. A given CTRM software vendor often lacks the in-depth knowledge of a company’s inventory assets and valuation methods. On demand expertise tailors solutions to valuing inventory, no matter the size or shape.
Previous slide
Next slide

To a team of on demand CTRM experts, no problem is completely new. Successful businesses know what they need to accomplish to meet their long and short-term goals—Value Creed’s expertise on demand bridges that gap between ‘would’ and ‘can.’

 

Ready To Get Started?

Let Us Know