Energy Trading and Risk Management (ETRM)

ETRM Software allows improved and efficient business processes, and that's the key reason why energy companies are increasingly concerned about ETRM. IT experts such as FortySeven Software Professionals are providing ETRM as an innovative way to deal with trading and risk management for the energy sector.

Key Aspects
of ETRM

Energy Trading and Risk Management (ETRM) is a network of applications, tools, and architectures that helps with trading energy commodities such as crude oil, minerals, natural gas, electric power, etc.
Energy trading involves supply and demand for energy commodities, and risk management deals with all the potential risks that come in the way. Together, they play an important role in the energy market.

How ETRM Helps Energy Businesses?

ETRM is of great importance for energy businesses, particularly. It comes with applications and tools that specifically deal with processes and potential problems. Whether it is about making on-time energy supplies, gathering data, or optimization of resources, ETRM does a great deal.

Let’s look into some significant benefits:

1. Records all transactions

ETRM keeps a record of all day-to-day transactions. As energy enterprises buy and sell energy commodities on a large scale, it is manually impossible to keep all transactions in one place. That's where ETRM comes as a beneficial solution. It ensures that the data is always current and updated.

2. Offers a controlled environment

With ETRM, risks and potential problems are figured out beforehand. This way, business processes are streamlined. ETRM allows coming up with the solutions beforehand. This way, it offers a controlled business environment.

3. Reduces the costs of manual operations

With most day-to-day operations handled by CTRM, the cost of manual operations reduces largely. It further helps in the increase of productivity, and thus, businesses enjoy higher profits and ROI.

4. Automation and time-efficient practices

CTRM offers automated operations and helps in adopting efficient practices. This does not only ease day-to-day task management but proves to be very beneficial in the long run. This enables companies to follow new energy trends and make the most out of market opportunities.

5. Allows risk management activities

ETRM helps in risk management activities greatly. It helps in making a solid strategy to eliminate risk and perform important risk scans on time. Also, it helps deal with the risks by diversifying the supply portfolio. Again, energy companies can ensure lesser risk by following market trends and opportunities for which, ETRM acts as an important asset.

6. Provides an on-time audit trail

Accurate data entry and updating transactions and records regularly help in providing audit trail on time. This allows for efficient decision making as the energy sector is mostly about making rapid decisions. Keeping in view the supply and demand for energy commodities, the audit trail is also important to deal with legal business aspects.

Which Businesses Use ETRM?

All the focal energy trading businesses are making a move towards ETRM to benefit from its potential advantages. Some important industries in the energy sector that should use ETRM include:

Oil industries

With the help of ETRM, oil industries can increase their value chain and make on-time oil supplies.

Refineries

Refineries that refine energy resources can use ETRM for monitoring and delivery purposes.

 

Gas industries

Gas industries can deploy ETRM software to automate their daily business processes.

Electric power industries

ETRM can help electric power industries to meet commercial electric demand on time and a lot more!

Are You Looking For ETRM Development Services?

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Reasons to choose FortySeven Software Professionals

Our development process is the natural evolution of a software process to support today’s changing business environment. We believe that every project should be dealt with a fresh approach. Our industry knowledge allows us to deliver solutions that solve business challenges in 40+ industries. Working closely with you, we define your needs and devise effective automation tool concepts, knowing how to implement these concepts and integrate them according to your specific needs.

Predictability
More than 12 years of successful global IT outsourcing and our customer’s business augmentation.
Business communication
We are compliant with ISO 9001:2015 on Quality management systems and ISO 27001:2013 on Information security management system.
Deep Technology Expertise
Our specialists have a vast business and technology expertise and can develop complex solutions.
Full IP Control
We transfer full control over Intellectual Property Rights to you each month.
Adaptability
We manage projects using software for tracking progress and time. This gives you full control throughout the development process, making progress and billing fully predictable.

Cooperation Models

We have defined each framework with one sincere belief that an engagement model is what that defines a successful collaboration between you and us. Nevertheless of chosen model, you will have the total control, transparency and flexibility over delivery and the budget during the whole development process.

Project Based

This approach doesn't give the flexibility to you, but it can be used by government or other companies, corporations, individuals if the requirements are clearly defined and all the specifications of the project are known in advance. The involvement of the customer is limited. During the development process, the requirements can’t be changed, any changes will lead to additional fees and make the price of the project not fixed anymore.

  • Most suitable for small-size projects.
  • Based under the Waterfall approach.
  • Strict rules on the specification changes.
  • Used for projects when all software requirements specifications are clear and predefined.
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Outstaffing Time and Materials

This model is based on the rapidly evolving business and technology world. You are able to make changes on the go and pay for the time the development team spends actually working on your product. We will provide you with pre discussed amount of software engineers and IT specialists required for realization of your project of any size. Each iteration is planned together with you before its implementation, that gives you total control over the deliverables and the budget.

  • Well-adapted to various kinds of projects from small MVP to complex software engineering solutions.
  • Full participation and control over the whole development process.
  • Flexibility on your side, you are able to make changes on the go.
  • Based on Agile approach, Scrum, Kanban or other methodology can be used.
  • Choose if the time-to-market is important for you.
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Dedicated Development Team

This cooperation model allows companies, corporations or individuals to augment their software development capacities. You get the access to human resources like software engineering specialists, devops, QA engineers, technical writers, designers, project managers etc. who will work on your project using your software tools and selected methodology. Our IT specialists can work in synergy with your existing IT department.

  • Full Intellectual Property Rights every month.
  • Highly educated employees.
  • Multi language software engineering and management teams.
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