A leading North American energy company, managing over 130 electrical generation, transmission, and distribution facilities, faced significant challenges due to outdated and manual bookkeeping processes for trade approvals and invoicing. Despite migrating these processes to Snowflake DB, inefficiencies and risk management issues persisted, impacting its operational effectiveness.

To overcome these challenges and support scalable growth, the company aimed to implement a comprehensive ETRM platform as part of its broader digital transformation strategy. This new solution sought to enhance trading operations, improve risk management, expedite back-office procedures, minimize errors, and modernize the IT infrastructure.

KEY RESULTS

Enhanced Decision-Making

Leveraged real-time data and analytics for strategic insights

Processes Automation

Streamlined trade approvals and invoicing for faster processing

Risk
Reduction

Enhanced risk management with automated workflows

Scalable Infrastructure

Built a flexible IT
infrastructure for future
growth

High User
Adoption

Strong user engagement through training and stakeholder involvement

A Strategic Approach to Project Success

Value Creed collaborated with the operating business to thoroughly explore their existing operational challenges and propose enhanced solutions.

Advisory Services

Interviews
Our team conducted extensive interviews with front office (FO), middle office (MO), and back office (BO) users to understand existing processes. Over 15 interviews were conducted with users from FO, MO, and BO

Process Evaluation
After reviewing existing process documentation and workflows, we identified processes to retain and eliminate, pinpointing those suitable for automation and those to be executed via integration tools like SAP or repositories, ensuring continuous evaluation and improvement.

Process Flows
By collaborating with stakeholders on revisions and enhancements, we developed comprehensive revised process flows incorporating their feedback. Obtained sign-off from relevant departments and key decision-makers to ensure involvement and alignment with various stakeholders. A total of 72 process flows were created and delivered, each denoting processes that had scope for automation, integration with third-party software, and enabling through schedules/triggers.

RFP Documentation
Drafted RFP documents specifying client-specific process customizations while simultaneously selecting appropriate databases and schemas to meet technical requirements. Integrated existing Crystal Reports seamlessly and incorporated external engines for market data into the ETRM system, ensuring comprehensive coverage of client needs. RFP documents were tailored to the client’s power trading operations, involving architecture requirements, frameworks, and the extent of code changes required.

Business Scenarios
Developed end-to-end business scenarios with varying test cases for capacity trading, financials, and relevant Independent System Operators (ISOs). We had 3 categories (for PJM, MISO, ERCOT), each category having 5 business scenarios for the trade to cash lifecycle.

Technical Solution Documents
Sent out technical solution documents for input on program management, architecture, security needs, infrastructure, release roadmaps, and DB support.

Future State Strategy
By identifying requirements and providing tailored solutions, we ensured seamless integration with users and business operations, guaranteeing cost-effective solutions. This set the stage for a successful digital transformation, modernizing the company’s operations and supporting its long-term growth and efficiency.

Value Creed Services Mobilized

Advisory Services

Our advisory services will guide your operations and help you achieve your vision, considering all stakeholders. With extensive lifecycle, functional, and technical expertise, our experienced team delivers frameworks and guidance for building reliable and scalable commodity trading businesses.

Digital Transformation

Obtain the most appropriate and useful data for your specific needs! Value Creed offers a range of services to support you during your data transformation journey. With expertise in data integration, reporting, and performance optimization, we assist in ensuring that your data is optimized for analysis, visualization, and validation.

Key Takeaways

Transform your company’s trajectory with Value Creed’s proven expertise in consulting and digital transformation. Our seasoned consultants excel at navigating complex challenges, delivering seamless transitions, and optimizing processes. Committed to client satisfaction, we tailor solutions to your unique needs, leveraging cutting-edge technology and industry best practices. Partner with us to drive innovation, efficiency, and growth.

Recommended Resources

How A Major North American Utility Company Achieved Successful Digital Transformation

Major North American Utility Company Achieves 60% Cost Savings with Successful Digital Transformation

Strategic Operations Transformation: Evaluating ETRM Solutions

Achieving 30% Cost Savings Through Strategic Operations Transformation

Regional Generation and Transmission Coop Company Enhances Reporting Accuracy with Advisory Services

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+1 (833)-282-7333 | info@valuecreed.com

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Get In Touch

+1 (833)-282-7333 | info@valuecreed.com

By calling or texting this number (833) 282-7333, Customers agree to receive text messages. If you no longer wish to receive text messages,
you may opt out at any time by replying “STOP.”

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Key Takeaways

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Risk
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