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managing over 130 electrical generation, transmission, and distribution facilities, faced significant challenges due to outdated and manual bookkeeping processes for trade approvals and invoicing.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 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