Commodity trading and risk management companies are facing greater internal capacity restraints than ever in day-to-day operations. By bringing CTRM expertise on board, business leaders can help avoid seemingly endless issues for business users stuck handling routine or complicated tasks in a never-ending backlog.
Business process outsourcing solves these challenges in a number of key ways.
What Is Business Process Outsourcing (BPO)?
Business process outsourcing utilizes our staff with a deep knowledge of CTRM services to handle complicated, routine, or custom tasks for a client’s business. BPO members know their processes inside and out, enabling them to run vital services and handle crucial processes without disruption.
With decades-worth of experience, BPO staff know the types of issues that arise for a given service, process, or application. It’s this deep well of insights that allows BPO teams to meet the most pressing challenges in CTRM software.
Client Challenges In Commodity Management Software
Clients typically run into one or more particular issues when running their business. These include three main areas of concern. Now let’s see how BPO meets and overcomes these challenges.
Case Study: Business Process Outsourcing For Oil & Gas
For one regional petroleum storage and wholesaling company, invoice matching had become a critical yet burdensome task. Each PDF invoice needed to be checked before that information was relayed to the customer.
Value Creed’s BPO services not only handled this task for their back office, but also scheduled shipments and tracked them across the pipeline, recording inspection fees and other related data along the way.
Through BPO, Value Creed takes the burden off the back office by becoming the back office. To see how we did it in more detail, get our free case study below.
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See How BPO Made The Difference For this Petroleum Company
How Deep CTRM Experience Makes The BPO Difference
Invoice matching is just one of the tasks that requires deep CTRM experience to complete successfully. It’s not just an accounting task—a detailed understanding of the business process allows for accurate payment matching.
Business process outsourcing also relies on cooperation. A mutual understanding between the client and the BPO team allows for seamless collaboration. With this trust established, our team becomes an extended arm of your business.
Leverage CTRM Business Process Outsourcing
for Common, Yet Critical Tasks
CTRM Settlement Reconciliation
To operate at peak effectiveness all your trades and transactions must be settled, matched, and transferred between your CTRM and ERP systems quickly and accurately.
Month End Closing
Cash flow issues arise when customers take as many as 20 days to come up with invoices. BPO teams send invoices out faster so they get paid, allowing clients to close out the month with greater peace of mind and more revenue.
Natural Gas Scheduling and Invoicing
Logistics and Back Office operations are often highly-repetitive, such as Electronic Bulletin Board (EBB) scheduling, where employees nominate gas flow into the pipes. A BPO team can handle the nomination process, as well as ensure invoices match the actual volumes moved, providing greater accuracy in the CTRM system.
CTRM & ERP Reconciliation
Most commodity trading and risk management companies will have multiple systems for storing and managing data. BPO teams have experience with cross-platform reconciliations, ensuring accuracy between the source of data and the destination system
Our BPO experts have over 35 years of collective Middle Office and Market Risk experience; they’re ready and able to assist with your Risk Monitoring, Assessment, Reporting, and Mitigation efforts.
Go beyond your in-house team’s capacity limits by bringing CTRM expert insights into your processes. Here are some of the ways Value Creed approaches BPO for our most valuable clients.
Value Creed clients often reach out to request additional or custom services. We are always available to identify automation opportunities, leveraging both our technical expertise and background in process management to create best practices.
Our BPO approach to CTRM services is unique. We have the ability to make the right decisions on operational effectiveness, leading to reduced costs of ownership for businesses over time.
If you’re ready to start outsourcing your business processes to a trusted team of CTRM experts, get in touch today and see how your company can overcome the challenges for the future.
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