Is your current RightAngle version holding you back?

Don’t let business and IT constraints become roadblocks on your path to success. Value Creed is here to help with our tailored solutions and additional support.

We understand the challenges you face and offer the expertise to overcome them. With our comprehensive approach, we ensure that your operations run smoothly and efficiently, by not only addressing the immediate concerns but also the underlying issues, enabling sustainable success.

Unlocking Solutions for Unsupported RightAngle Versions

 In the realm of technical problem-solving, there are multiple alternatives to address new business scenarios, current issues, and bugs without resorting to an upgrade.

With increasing operational complexities, businesses recognize the need to have tailored solutions for generating reports such as Hour Lifting Reports and Inventory Reconciliation. While the latest versions may address future requirements for automatcher, order maintenance, and more, upgrading solely for immediate fixes is not an ideal solution. This is where our team’s expertise comes in, delivering flawless transitions between the current and new system processes. 

Introduction of new business scenarios

With a lack of core support for any new business scenarios, implementation of various modules will either be a ‘workaround’ utilizing the current systems in place, or a new customization to be added to the system. Our expertise allows us to understand the current processes and create new functional customizations that can be incorporated seamlessly within the current setup. 

This is a tailored display system aimed at providing our business with real-time updates on the hourly quantity of products being lifted. The solution offers a visual representation of the frequency of outgoing products, empowering our team to grasp the intricacies of demand and supply dynamics. 

A custom solution for automatically handling the BOLs (Movement Documents); through meticulous implementation, the system is designed to possess the capability to identify specific data attributes within BOLs, such as product details, locations, and receipt/delivery deals.

Automating this process aims at assisting users after the month-end account closes, further enabling proactive comparison of the data between ‘Search Inventory Balance’ and ‘Search Inventory Subledger Balance,’ swiftly identifying any discrepancies that necessitate user validation.

Recognizing Future Business Requirements

In many instances, the RightAngle system may not meet the business requirements, necessitating the addition of new custom business rules and custom development. Our team has extensive experience in implementing numerous custom developments to support the business. Here are a few examples:

These modules can include deferred invoices and custom order processing. With the complexity of these items, with scenarios such as needing to actualize individual movement doc line items at separate times/accounting periods, the core logic can find it difficult to accomplish the goals of the business.   

These templates are carefully customized to capture all the essential details needed for each specific trade. For example, to address the complexities of the Rack business, we have designed separate templates for different scenarios, including Rack Day purchase & sale, Rack Contract purchase & sale, Rack posted purchase & sale, and standalone RINs purchase & sale.

Whereas for RINs trades, we have expanded the deal templates by including additional fields that are crucial for our RINs customers. When deals are interfaced and imported from third-party tools into RightAngle, our team has implemented a reliable mechanism to ensure smooth data transfers.

 

The T4 Interface allows for the seamless import of nominations, schedules, and custody tickets from T4 into RightAngle, simplifying order creation and movement document generation. Custom reports provide details of imported T4 data and highlight any issues.

The developed custom solution for Capturing Physical Inventory Balances for Terminal and Storage locations has the ability to capture the physical inventory balances for their terminal and storage locations.
Furthermore, implementing a custom auto-agree job helps to compare the terminal BOL data with the RightAngle BOL data. If no discrepancies are found, the transaction is marked as agreed on by the recon group.

Our team configures payable matching for different types used by customers, with specific tolerances for each transaction. The Payable Automatcher job applies the matching logic to align vendor files with RightAngle accounting transactions.

To facilitate communication with various counterparties, our custom solution has the functionality to send draft notices via email directly from RightAngle. It also generates a PDF file containing AR invoices for the current day and automatically emails it to the respective counterparties, ensuring efficient and timely communication.

Addressing Manual User-hours Issues

The business can incur significant costs in the long run when encountering issues that demand a considerable amount of manual effort or workarounds. It becomes crucial to implement a permanent solution to mitigate these challenges. This is where Value Creed can play a vital role by developing a long-term resolution so the users can be relieved from the complexities of workaround procedures tied to the issue.

A sophisticated custom logic that automates the payable invoice generation identifies and selects accounting transactions that meet specific criteria provided by the business. Our approach streamlines the invoicing workflow, allowing businesses to focus on core operations and enhance overall productivity.

Value Creed offers a custom solution that matches orders effectively and generates order batch names by intelligently trimming them while maintaining uniqueness. This eliminates the need for manual order and order batch creation, mitigating potential issues with the automatcher.

In certain scenarios where users update data on existing deals, the system erroneously terminates the risk associated with those deals on the MTM report, leading to discrepancies in the risk data. To mitigate this issue, our team offers a meticulous data validation process that identifies such cases and flags the records where risk termination has occurred incorrectly. 

Tackle challenges of unsupported RightAngle versions with Value Creed’s Expertise

Harnessing our expertise, we understand the intricacies of your unique environment and curate custom solutions that seamlessly sync with your existing configurations.

With our extensive background in handling diverse versions, we possess the ideal experience to provide customized solutions for RightAngle’s unsupported versions. Our distinctive solutions offer numerous benefits, including enhanced system performance, streamlined inventory management, accelerated invoicing workflows, reduced manual efforts, and optimized cost management. By adopting our custom approach, you can allocate resources more effectively, fostering productivity and facilitating growth.

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Enhance Inventory Management with RightAngle Customizations

Looking to view and analyze live inventory data across multiple terminal locations?

With RightAngle customizations, you can now streamline the inventory reporting process by creating multiple reports that provide users with comprehensive insights into their inventory positions. The real-time reporting capabilities of our customizations help to proactively manage inventory positions and mitigate any potential risks. Users can now quickly view and analyze the live inventory data across multiple terminal locations, which is further drilled down to the tank level, which enables better-informed trading decisions and improves operational efficiency.

Pre-Customization Challenges

Manually comparing the terminal inventory data with the inventory transactions in the RightAngle recon groups

Reconciling inventory transactions in the Recon groups requires multiple dedicated resources to compare data from various sources, including terminals and 3rd party applications

Updating the physical inventory maintenance with inventory balances from various storage facilities at multiple locations

Inventory data from different reports were being copied/exported from the RightAngle by the users into an Excel sheet manually daily

Value Creed's Diverse Customization Solutions

Customized jobs and reports help to make the inventory management process more efficient by providing the users with the necessary inventory data in a timely and accurate manner. The custom reports eliminate the need for manual searching and sorting through multiple reports, saving time and reducing the risk of errors. They are designed to automate inventory updates, ensuring that the data is accurate and updated, reducing the risk of missed trading opportunities and operational risks.

Below are the custom jobs that can be developed for the users which can streamline the BUSINESS PROCESS immensely:

Below are the custom reports that we have developed to streamline the INVENTORY MANAGEMENT in RightAngle for the business:

Key Results

Value Creed’s proposed solutions can 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.

Automation of Manual Processes

The automation of various jobs and reports has led to a significant reduction in manual efforts. our custom solution will save up to 90% of the time when compared to manual intervention needed for importing, exporting, and comparing the inventory data across multiple systems for correctness.

Improved Accuracy

The automated jobs and reports ensure that the data is accurate and up to date. This helps in avoiding manual errors and discrepancies that can be costly for the business.

Timely & Better Business Decisions

The reports provide users with timely information about inventory balances, terminal data, and inventory reconciliations. This helps in making informed decisions and taking corrective actions and users to make better business decisions.

Cost Savings

The automation of tasks like data comparison and updates, reconciling inventory transactions, and distributing inventory data from multiple reports at a scheduled time resulted in daily cost savings of between $300 and $450.

Value Creed Services Deployed

Value Creed provides a comprehensive range of services to deliver a one-stop solution that meets the client’s needs and improves their business processes.

Business Analysis

The process of understanding the client's business requirements, gathering information, and analyzing data to identify areas for improvement.

Data Integration

Integrating data from multiple sources and developing data integration solutions to ensure the accuracy and completeness of the data.

Solution Design

Creating a solution design that meets the client's requirements and incorporates best practices for optimal performance.

Quality Assurance & Testing

Ensuring the quality and reliability of the developed solutions through rigorous testing and quality assurance processes.

Custom Reports & Jobs Development

Developing custom solutions in the RightAngle tool to automate and streamline the client's business processes.

Project Management

Managing the project and ensuring that it is completed on time, within budget, and meets the client's requirements.

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Maximize Cash Flow Accuracy with Efficient Cash Application & Disbursement Management

Managing cash flows efficiently is crucial for any business’s financial success. That’s why RightAngle’s Cash Application & Disbursement module, available from version S20 onwards, is designed to streamline cash management processes and ensure accurate management of cash flow, leading to improved bottom-line results. Let’s explore the various advantages this module offers:

Automate and Minimize Errors

By automating the cash application and disbursement process, manual effort is significantly reduced, resulting in fewer errors. This streamlining not only saves time but also enhances accuracy, ensuring that cash is applied to the right invoices and receivables efficiently.

Seamless Integration with RightAngle Modules

RightAngle's Cash Application & Disbursement module seamlessly integrates with other RightAngle modules, providing comprehensive cash management capabilities. This integration allows for a holistic approach to financial management, enhancing overall operational efficiency.

Enhanced Visibility into Cash Position

With this module, businesses gain valuable visibility into their cash position. They can access crucial information, such as bank details and cash availability reports, empowering them to make informed financial decisions promptly.

Effective Management of Open Items

The module includes powerful tools for creating write-offs and managing open items effectively. This feature improves the accuracy and transparency of financial records, reducing outstanding balances and enhancing overall financial control.

Aging Reports and Accounting Control Panel

RightAngle's Cash Application & Disbursement module offers aging reports that provide a clear overview of receivables, payables, and cash flow. Additionally, the accounting control panel provides greater transparency and control over financial operations.

It is a one-stop shop that enables businesses to be more transparent and efficient in terms of cash management. Businesses would be able to apply cash received to invoices and other receivables, send cash disbursement data to financial institutions, Report on Open Cash, Open Receivables, and Open Payables, and maintain more detailed Bank and Bank Account information.

Business Issues

A business using a third-party tool connected to RightAngle through an interface may face challenges related to inefficiency and limited visibility into its cash flow. To fully address these challenges and improve the efficiency and accuracy of the cash management process, it would be necessary to fully implement RightAngle’s Cash Application & Disbursement module.

Implementing a Customized Cash Application module in RightAngle

The implementation of these customized solutions can have a positive impact on the company’s cash management operations, reducing operational costs and increasing customer satisfaction.

Our team at Value Creed has built an interface to apply cash in bank, by this the company has streamlined the cash application process and reduced manual errors.

The Sample bank BAI file inbound task developed by the VC team involves the automated loading of vendor draft files into a designated location, followed by the extraction of payment information from the records. Payments are then loaded into a staging table for further processing

Task scheduler –  Sample Bank BAI file

 

Further, it is then added to the Search Available Cash Report under the cash application and disbursement module for tracking and manual application to open receivables using the Cash Application Tool

Search Available Cash Report  


The team at Value Creed also has developed the EFT drafts report, using data from the cash release. It provides the company with increased visibility into its cash management operations.
The DTN EFT Drafts Interface task involves the automated loading of electronic funds transfer (EFT) draft files from DTN to a specific location. The task then extracts payment information from the records and loads them into a staging table called ‘Search EFT Drafts’, for further processing.

DTN Draft Jobs

The next step of the process involves attempting to match the records in this staging table to the cash release records and mark the release status of the matched records as ’Gone to Bank’. The Search EFT Drafts report also includes a section for errors, and users can review the status and errors in this report.

Search EFT Drafts

Overall, the DTN EFT Drafts Interface task streamlines the payment management process and ensures accurate tracking of payables, and using the Search EFT drafts report a better visibility is provided for the users on their cash management process.

Cash Release Management

Benefits of Implementing the Module

User-friendly & Intuitive

Higher opportunity costs against training purposes on the 3rd party tool

Eliminates Licensing Fees, Lowering Correction & Rework Costs

Saves a mid-size energy firm up to 100% of the cost of a third-party tool subscription

Automates Cash Application & Disbursement Process

Higher opportunity costs against training purposes on the 3rd party tool

Visibility into Cash Position

Includes Bank information and Cash availability report which can save a mid-size energy firm up to 40% of the cost of a separate reporting tool

Match & Reconcile Payments and Disburse Financial Data

Improves cash flows; this solution aids to save up to 20% on the cost of financial management, resulting in potential cost savings

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Optimize Your Data Management for Efficient Business Processes

With RightAngle handling large amounts of data, such as trade transactions, market prices, and risk positions on a daily basis it is necessary to regularly remove redundant data to prevent slowdowns and improve the overall performance of the system.

Purging and Archiving play a major role to provides a more efficient and effective way of managing old and unnecessary data, reducing the risks related to data management. RightAngle’s Purging and Archiving functionality eliminates the manual process of removing redundant data from the data table and enhances system performance.

Enhance Data Quality with Automation

Purging and archiving is a common challenges faced by organizations of all sizes. Learn more on how several impacts of the manual approach can be eliminated by implementing the RightAngle tool aiding organizations to improve their overall business performance.

Removing data directly from the database without proper backups or archives increases the risk of accidental data loss.

Over time, the database can become cluttered with unnecessary data, which can slow down the system and negatively impact performance.

Manually removing data from the database requires ongoing manual intervention, which can be time-consuming and costly.

The manual approach does not provide an auditable trail of data changes, which can make it difficult to comply with regulatory requirements.

Efficient backup and archive process, reducing the risk of accidental data loss and and recovery time is significantly reduced by up to 40%.

The solution automates the process of removing old and unnecessary data, reducing the need for manual intervention, and freeing up resources for other tasks.

The purging and archiving solution is integrated into the RightAngle tool, providing a streamlined process for managing data that is more efficient and effective than manual methods.

The solution provides an auditable trail of data changes, making it easier for organizations to comply with regulatory requirements.

 

Read More About Our Implementation Success

This case study highlights how Value Creed solved Space and Performance issues for a RightAngle Downstream Company

Comprehensive Data Management with Value Creed

Value Creed’s custom approach is built on the RightAngle tool, which provides a comprehensive and integrated data management platform. With popular beliefs on data being kept indefinitely, or that purging data is a complex and time-consuming process. 

We can help you with our broad expertise to automate the purging and archiving process, making it more efficient and reliable by reducing the job completion time by 20%, while also ensuring data privacy and security.

Value Creed's Approach to Resolve Complexities in the Process

Leverage our Expertise to Ensure Successful Implementation

Value Creed offers a range of services related to purging and archiving in the RightAngle tool. These services include implementation, training, support, and ongoing maintenance in RightAngle. With our wide expertise in the industry, users can benefit from our services with the right solution for their data management needs, reducing costs, improving system performance, and enhancing data security.

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Archiving and Purging Strategies

The purging and archiving solution in the RightAngle tool uses an automated process to move inactive data from the production database to an archive database. The process is designed to be simple, efficient, and scalable, with minimal impact on system performance increasing. The data is securely stored and easily accessible for retrieval allowing better use of their data.

Archiving in RightAngle

RightAngle provides the ability to archive data that is no longer actively used to a secure storage location. This can help improve system performance by reducing the number of rows in the tables and prevent any negative impact on the system due to a large volume of data

Purging in RightAngle

RightAngle provides functionality to configure the purging to control the record retention settings for the various log and archive tables within the system. It also provides the ability to define retention periods for specific custom tables.

Understanding the Implementation Strategies

Key Benefits of Archiving and Purging Strategies

System Performance

Data Management

Storage Cost Savings

Compliance

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Streamline Rack Business Operations

The energy trading industry involves buying and selling commodities through ETRM tools like RightAngle. However, standard features may not meet specific business needs. Our expertise offers customized solutions to streamline rack business operations, including managing trading activities, tracking positions, billing customers, and mitigating risks.

Below is how a Rack Deal is performed in RightAngle:

Industry Pain Points

Inefficient operations lead to delays, errors, and increased risk, which ultimately impacted the bottom line of the business. This further leads to challenges in retaining customers as well as acquiring new customers.

Each office has its own additional challenges due to the standard template available in RightAngle, these are: 

The deal template is incompatible to capture all the necessary data required by the business. The inability to enter internal purchase and sale deals within the system makes it extremely difficult to capture and manage internal trading activities between different departments or subsidiaries.

Middle office users spend a significant time matching physical trades to the movements, leading to an increased risk of errors and potential delays. With 3rd party tools, the process of capturing rack deals, scheduling them, and handling movements and related BOL files makes the entire process time-consuming.

The unavailability of customized invoice templates like payment type drafts, billing, and cash applications makes the process inefficient and error-prone, leading to delays in payment and potential disputes with customers.

Value Creed's Customized Approach to Rack Business

The suggested solution includes customized deal templates, automatcher rules, and invoice templates, as well as drafts for daily invoices and custom reports tailored to customer requirements. These customizations help clients to streamline their operations, optimize the use of the RightAngle tool, and improve overall efficiency, leading to improved customer satisfaction, reduced errors, and increased profitability.

Benefits

Customized solution for RightAngle by Value Creed has results in improved efficiency, productivity, and profitability for businesses.

Our customizations help streamline front-office operations, allowing businesses to more efficiently capture, manage, and track deals, resulting in increased efficiency and productivity.

Our customizations will provide businesses with enhanced middle-office capabilities, such as the ability to track inventory levels, automatch transactions, and generate customized reports, resulting in better risk management and improved decision-making.

Our customizations can help businesses streamline their invoicing and payment processes, reducing processing time and errors, and increasing efficiency and productivity.

Our customizations provide businesses with increased visibility and control over their trading activities, allowing them to better manage risk exposure and make more informed decisions.

Increased Efficiency & Productivity

20-30% increase in overall productivity

Improved Accuracy & Reduced Errors

Reduce manual errors by up to 80%

Better Risk Management

10-15% reduction in risk exposure

Improved Cash Flow

5-10% improvement in cash flow

Cost Savings

10-20% reduction in storage costs

Value Creed's Service Add Ons

Value Creed offers a range of services to help customers implement and customize RightAngle to meet their unique business needs. Some of the services that will help deliver the Customized Rack Business solution include:

RightAngle Customization

Customization of deal templates, automatcher rules, creating invoice drafts, multiple reports, and other features to meet the unique needs of the customers.

Special Report Customizations

Customized reports to include specific information such as the date and time of the interface, the type of deal, the deal ID, the source of the interface, and any relevant details or comments.

Business Process Optimization

Optimizing business processes by analyzing current workflows, identifying areas for improvement, and implementing best practices

Implementation and Integration

End-to-end implementation services from project planning and scoping to testing and deployment.

Training and Support

Training on core functionalities, as well as customized training on features, functionalities, and workflows related to rack business.

Want to Learn More About Our Customization Services for RightAngle?   

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