BUSINESS PROCESS CHALLENGES
Consider the Effect Complex CTRM Business Processes Have On Performance
How much time do your traders, schedulers, and accountants spend manually entering data into multiple applications, updating contracts by hand from emailed PDFs, comparing orders to fulfillment, or updating positions? We’re willing to bet it’s too much.
These facts make finding modern solutions to critical, yet repetitive tasks paramount. Explore how these tasks are being improved using robotic process automation.
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Why Robotic Process Automation Is Changing The Way CTRM Workflows Are Done
Robotic Process Automation, or RPA, is not new, but rather new to CTRM systems. RPA enables commodity producers, traders and providers to rely on software robots to do repetitive, documentable tasks performed by front, middle and back office staff members today. Time spent on these tasks can be reclaimed and allocated to higher-value programs.
80% of Your Repetitive Processes Can Be Handled By Robotic Process Automation
Proven Use Cases for Major Industries Using CTRM Software
Value Creed’s turnkey services put the power of RPA CTRM at your fingertip, no matter where your company operates in the energy production/marketing/distribution stream:
Contract and inventory management, settlement, and ordering, automation drives better decisions in a climate of price and demand volatility.
Natural Gas Marketing
RPA can trigger proper responses to pipeline imbalances to mitigate disruption and penalties and flow EBB postings through settlement and invoicing.
RPA shares data from land leases, pricing contracts, receipt tickets, and statement validation for fully integrated record-to-report workflow.
Crude Marketer Operations
RPA can be employed in the reconciliation of meter tickets to terminal scale tickets, allowing for quicker agreement on receivables/payables to speed up the cash cycle.
Use of automation to simplify and speed the agreement with multiple location fuel suppliers increases accuracy and decreases time needed to identify and resolve discrepancies.
Refined Fuel Suppliers
Automate scheduling by reading BOL data send via emails or downloadable PDFs from various counterparties, incident management, billing queries, user administration and updating records and to automatically set up and run processes.
Robotic Process Automation Technology Proven for CTRM Systems
Value Creed’s robotic process automation service harnesses software technology to emulate human interactions with digital systems and software.
These software robots can be programmed to “read” computer screens and digital documents, carry out a complicated series of keystrokes, instructions, navigate systems to identify and extract data, and perform a wide range of user-defined actions. And, they can do it faster and more consistently than people.
RPA IN CTRM SYSTEMS
Watch and learn how you can identify and deploy RPA bots in place of repetitive, manual tasks for complex business processes.
With RPA solutions specifically suited to CTRM platforms, your organization will see the power of taking tasks that now may require staff augmentation just to address, like month, quarter or year end invoice reconciliation, and replace this extraneous staffing costs with digital robots designed to support your in-house staff by performing tedious, complicated, or routine tasks rapidly and automatically. We can set up RPA solutions that address every part of your business.
Consider every stakeholder and every opportunity for RPA, now that you have an understanding of the overall concept and can conceptualize opportunities. If you are ready to organize this process, reach out to the Value Creed team to discover next steps or just to better plan for this effort as you transform your manual processes into automated operations.
Building business processes powered by robotic process automation should be considered a marathon, not a sprint. Fortunately, there are several small, early victories companies can achieve to generate momentum and interest within their organizations. Start by establishing RPA as a natural evolution that will further innovation and productivity. Assign enthusiasts who can inspire their co-workers to adopt the process and evangelize their successes.
With a few pilot program wins in place, it will be easier to train the entire IT team to design and implement custom automations. Once you’re off and running, the next RPA stage involves integrating bot development into a DevOps workflow so automation projects run continuously and concurrently with testing, troubleshooting, and integration.
After a couple of years, you will have a mature RPA process. Value Creed is here to help you take the first step.
CTRM ROBOTIC PROCESS AUTOMATION SUCCESS
This case study highlights how a Refined Fuel Supplier worked with Value Creed to develop robotic process automations to:
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