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managing over 130 electrical generation, transmission, and distribution facilities, faced significant challenges due to outdated and manual bookkeeping processes for trade approvals and invoicing.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.
Leveraged real-time data and analytics for strategic insights
Streamlined trade approvals and invoicing for faster processing
Enhanced risk management with automated workflows
Built a flexible IT
infrastructure for future
growth
Strong user engagement through training and stakeholder involvement
Value Creed collaborated with the operating business to thoroughly explore their existing operational challenges and propose enhanced solutions.
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.
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.
Our Advisory services not only will help you guide your operations but also help you achieve your vision by taking all stakeholders into consideration. Our highly experienced team has combined full lifecycle, functional and technical expertise to deliver frameworks and guidance around building reliable and scalable commodity trading businesses.
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.
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.
Reach out today to embark on a transformative journey towards operational excellence with our digital transformation solutions.
Performance Challenge A prominent downstream company that operates a network of gasoline service stations across the United States faced significant challenges while generating timely business
Performance Challenge A global commodity merchant who trades in a wide variety of financial and physical markets was facing issues with data integration. Resorting to
Performance Challenge Due to manual efforts, a company encountered data analysis challenges that hindered its operations. Generating multiple reports, such as monthly reports for various
Customize & improve business processes with Value Creed’s Implementation Services
A leading power and gas utility in the Northeastern United States operating with multiple ETRM software faced a critical challenge. Their existing ETRM software, essential for managing core operations, was nearing its end-of-support phase, posing a risk to core business processes. Additionally, their regulated business was implementing a separate ETRM solution. Previous support models, including in-house and outsourced IT services, had struggled to meet the evolving needs of the business. The company engaged Value Creed to evaluate the software used by the regulated unit as a potential replacement for the current ETRM software, aiming to consolidate disparate systems into a single, streamlined solution. The chosen system needed to effectively manage front, middle, and back-office activities while seamlessly integrating with the existing technical infrastructure.
Risk Mitigation: Early identification of technical challenges enabled proactive mitigation strategies.
Cost Savings: Cost analysis highlighted potential savings and informed financial decisions.
Project Efficiency: Structured approach facilitated timely and resource-efficient decision-making.
Value Creed undertook an extensive 8-week assessment to evaluate the suitability of the ETRM solutions:
Understanding Business Needs: Our team conducted comprehensive interviews across the utility’s commodity trading organization to understand its unique requirements, challenges, and objectives. This process identified specific functional and technical requirements essential for the evaluation process. The primary objectives highlighted were:
Request for Proposal (RFP) Development: Separate, detailed RFPs were crafted and sent to each ETRM solution under consideration, focusing on solution fit, implementation efforts, and supportability to ensure alignment with the utility’s business objectives.
Vendor Demonstrations: Value Creed organized vendor demonstrations to allow stakeholders from both units to interact with the proposed solution. These demonstrations provided valuable insights into the solution’s capabilities in addressing the utility’s business scenarios and requirements.
Evaluation and Feedback: Following the vendor demonstrations, we thoroughly evaluated vendor responses and gathered user feedback from stakeholders. This evaluation compared the solution against the utility’s functional and technical requirements, assessing its suitability as an upgrade to the existing ETRM system.
Cost Analysis: We conducted a comprehensive analysis to establish preliminary cost estimates for the ETRM solutions. This financial assessment enabled the utility to evaluate the feasibility and cost-effectiveness of transitioning to the ETRM system of choice.
Comparative Analysis: Our evaluation revealed that the proposed solution demonstrated comparable capabilities to the current system in various aspects, with notable improvements in reporting and book-structure functionality. However, significant limitations in middle and back-office functionalities were identified compared to the current system.
Final Solution Considerations: The assessment emphasized the need for a multi-year phased project approach, estimated over 18 months, and highlighted technical integration challenges. Given the cost, timing, and functional limitations, we recommended upgrading the current system rather than a greenfield implementation of the proposed solution.
Strategic Guidance: Value Creed’s advisory services provided the company with a clear roadmap for evaluating and selecting a future-state ETRM solution. Value Creed played a crucial role in enhancing the utility’s operational efficiency and ensuring alignment with strategic objectives by offering a comprehensive understanding of requirements, mitigating risks, and providing cost-effective recommendations.
Unlock operational effectiveness and elevate the efficiency and reliability of your database through Value Creed’s services. Optimize performance with fast and accurate data extraction, reconciliation, calculation, and reporting.
Our Advisory services not only will help you guide your operations but also help you achieve your vision by taking all stakeholders into consideration. Our highly experienced team has combined full lifecycle, functional and technical expertise to deliver frameworks and guidance around building reliable and scalable commodity trading businesses.
Our comprehensive Software Selection process ensures a complete study of the business operations. Workshops help us to understand the key requirements of business operations to design a process map and conduct a gap analysis. With industry-experienced team members, we understand future business needs, playing a vital role in software selection services.
Discover the difference with Value Creed’s Advisory services. Benefit from our deep expertise and tailored solutions to drive informed decisions, mitigate risks, and strategically align your operations. Let us empower your organization with insights and guidance that maximize efficiency and effectiveness. Partner with Value Creed to transform challenges into opportunities with our proven track record of empowering organizations for success.
Performance Challenge Due to manual efforts, a company encountered data analysis challenges that hindered its operations. Generating multiple reports, such as monthly reports for various
A diversified energy company based in New York needed to upgrade its CTRM, but had no experience with major technical software upgrades in the past
Global Energy Company’s Ambitious Growth Goals Powered by Value Creed’s Seamless CTRM Upgrade The Imperative Challenge A global energy company engaged in natural gas production,
Customize & improve business processes with Value Creed’s Implementation Services
A large U.S. Midwestern power cooperative faced a pivotal challenge in optimizing its trading portfolio reporting. Despite a successful system upgrade, the cooperative encountered a significant hurdle. They had established a robust book structure for their natural gas trading, and their power trading needed a similar differentiation of trades in the system. This deficiency hampered effective reporting on power trades, leading to an inability to discern regional, strategic, or activity-based performance metrics. Consequently, the cooperative’s management needed more granularity to make informed decisions and identify areas for portfolio improvement.
Improved Data Accuracy: Quarter on quarter from the time of deployment
Enhanced Operational Efficiency: Reduced errored trade count total trades per day
Risk Mitigation: Increase in timely reporting to trade repositories
Streamlined Reconciliation: Reduced manual verification hours for front-office (2 Desks & 7 Members)
To address this challenge, the power cooperative engaged with Value Creed in applying the successful natural gas book structure model to their power trading portfolio. Drawing on years of industry experience and deep domain knowledge, Value Creed initiated a strategic approach to implement an effective solution:
User Interviews and Analysis: Value Creed conducted comprehensive interviews with the cooperative’s power traders, middle office personnel, and back office/ reporting teams. Leveraging our extensive advisory experience, we facilitated collaborative discussions and conducted in-depth analysis to uncover specific requirements and challenges faced by the cooperative.
Iterative Structure Development: With our extensive expertise in trading operations and technology, Value Creed proposed multiple iterations of the book structure. Each iteration was carefully crafted to align with the cooperative’s unique trading activities, regions, and strategic objectives. Feedback from the cooperative’s stakeholders was integrated to ensure the structure’s effectiveness, leading to the next iteration of the proposed structure.
Mock-up and Testing: Using a test environment within Allegro, Value Creed configured the proposed book structure and applied it to actual power trades. This facilitated real-time visualization of how trades would be categorized and reported within the system, enabling the cooperative to provide valuable feedback and refine the solution iteratively.
Consensus Building: Throughout the process, Value Creed facilitated collaborative sessions involving the cooperative’s stakeholders to ensure alignment and consensus on the finalized book structure. Through iterative refinement, we were able to tailor the solution to meet the specific needs and objectives of the client.
Enhanced Management Focus: The implementation of a comprehensive book structure empowered the cooperative’s management with granular insights into their trading portfolio performance. With the ability to analyze performance metrics at a detailed level, management could identify areas of strength and opportunities for improvement more effectively.
Unlock operational effectiveness and elevate the efficiency and reliability of your database through Value Creed’s services. Optimize performance with fast and accurate data extraction, reconciliation, calculation, and reporting.
Our Advisory services not only will help you guide your operations but also help you achieve your vision by taking all stakeholders into consideration. Our highly experienced team has combined full lifecycle, functional and technical expertise to deliver frameworks and guidance around building reliable and scalable commodity trading businesses.
Are you facing challenges in optimizing your trading portfolio reporting, just like the power cooperative in our case study? We specialize in delivering transformative solutions tailored to your unique needs. Our experienced team combines deep industry knowledge with innovative strategies to help you overcome obstacles and drive success. Whether you’re seeking to streamline reporting processes, enhance data accuracy, or gain actionable insights, we’re here to guide you every step of the way. Contact us now to revolutionize your trading portfolio and gain a competitive edge.
Performance Challenge Due to manual efforts, a company encountered data analysis challenges that hindered its operations. Generating multiple reports, such as monthly reports for various
A diversified energy company based in New York needed to upgrade its CTRM, but had no experience with major technical software upgrades in the past
Global Energy Company’s Ambitious Growth Goals Powered by Value Creed’s Seamless CTRM Upgrade The Imperative Challenge A global energy company engaged in natural gas production,
Customize & improve business processes with Value Creed’s Implementation Services
A major petroleum company had several manual issues that led to incorrect inventory balances. Users manually updated inventory balances across storage facilities, relying on RightAngle data. This process was error-prone and time-consuming, especially during month-end closing. It required several employees to spend several hours daily, with additional hours to correct discrepancies. Inventory data was also manually transferred from RightAngle to Excel daily, lacking automation for efficiency.
Value Creed’s proposed solution approached these challenges with our proprietary digital transformation strategies. The business can now make the current process efficient for the users by reducing manual efforts, improving accuracy, providing timely information, empowering better decision-making, and generating cost savings for the business.
Annual Cost Savings: Automated data comparison, reconciliation of inventory transactions, and distribution of inventory data from multiple reports
Time Savings: Efficiency achieved by automating manual inventory management tasks
Our team of experts invested time in understanding the business’s needs and challenges, creating a solution featuring four specialized jobs: Physical Inventory Interface, Terminal Inventory Recon, Auto-Agree, and Third-Party Inventory Outbound. These jobs automated data comparison, updates, reconciliations, and scheduled report distribution.
Additionally, we developed custom reports updated by these jobs. This solution saves significant time and money by automating manual inventory tasks (estimated at 18-21 hours daily) and digitally transforming the inventory reporting system. To address the business needs, we delivered a comprehensive solution to achieve the desired results through the following services:
Business Analysis: Our team assessed the client’s business needs, gathered information, and analyzed data to identify areas for improvement.
Solution Design: We created a solution design that met the client’s requirements and incorporated best practices for digital transformation.
Custom Reports and Jobs Development: We developed custom solutions in RightAngle to automate and streamline the client’s business processes.
Data Integration: We integrated data from multiple sources and developed data integration solutions to ensure data accuracy and completeness.
Quality Assurance and Testing: We ensured the quality and reliability of the developed solutions through rigorous testing and quality assurance processes.
Project Management: We managed the project to ensure timely completion within budget and meeting client requirements.
Our Advisory services not only will help you guide your operations but also help you achieve your vision by taking all stakeholders into consideration. Our highly experienced team has combined full lifecycle, functional and technical expertise to deliver frameworks and guidance around building reliable and scalable commodity trading businesses.
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.
Value Creed offers a full suite of services to provide a comprehensive solution tailored to meet client’s needs and enhance their business processes. With our RightAngle customizations, users could streamline the inventory reporting process with the help of detailed insights into their inventory positions. Our customizations’ real-time reporting capabilities helped manage inventory positions and mitigate any potential risks proactively. This digitally transformational approach resulted in substantial cost savings and time, reduced manual efforts, improved accuracy, and provided timely information. Additionally, the ongoing support from Value Creed ensured the continuous value delivery to the business.
Contact us today to learn more about our digital transformation solutions.
Performance Challenge A prominent downstream company that operates a network of gasoline service stations across the United States faced significant challenges while generating timely business
Performance Challenge A global commodity merchant who trades in a wide variety of financial and physical markets was facing issues with data integration. Resorting to
Performance Challenge Due to manual efforts, a company encountered data analysis challenges that hindered its operations. Generating multiple reports, such as monthly reports for various
Customize & improve business processes with Value Creed’s Implementation Services