9 reasons to upgrade your outdated ETRM system today. - Inatech
- February 9, 2022
- Posted by: Tom Hedge
To compete in today’s oil industry it’s all about reacting faster to changing market conditions. Managing and taking advantage of oil price volatility. Understanding and efficiently handling complex supply chains. Monitoring the profit and loss of trades. And securing the right deal at the right time and at the right price.
To do this you need immediate access to accurate, up to date company, product and financial information.
If existing systems make that difficult then you run the risk of missing out on deals, making unprofitable transactions, struggling to find enough credit or simply not knowing what product you have available to sell at what price.
Deploying the latest ETRM software streamlines operations.
If you’re in a position where your data sits across multiple legacy systems or you’re using outdated or cumbersome technologies that make decision making time consuming then it could be time to upgrade your ETRM application.
With so many new ETRM applications on the market and cloud-based solutions gaining popularity because they offer the very latest technology without the need for large capex investments then there has never been a better time to invest in the latest ETRM software.
9 reasons to upgrade to the latest ETRM software
Run your entire business using one ETRM product.
You get a 360 degree view of business. Can manage everything from Pnl, risk, inventory and sales to trading, operations and finance using one system. And with a consolidated view of the business, decision making and streamlining operations is simplified.
Trade faster and more accurately.
You have access to data in one location giving you full visibility into daily positions/exposures of physical trades from the trade capture right through to the payment of the invoice.
Streamline operations and plan better.
You have complete flexibility to plan and re-plan logistics, transport and freight management as operations change.
Efficiently manage compliance, finance and cash flow.
Improve your cash flow with a fully integrated accounting system. Secure lines of credit, control exposure, set limits, and enable approvals/rejections.
Hedge, forecast and minimize business exposure.
Create and manage accurate inventory and trading positions. Forecast exposure by location and product for effective hedging. And create and manage counterparty credit exposure and credit limits.
Maintain accurate inventory levels.
With access to the right data you have accurate inventory valuation and tracking giving you a complete view of your inventory right across the supply chain.
Speed up decision making and improve business insight.
Monitor and run reports on all aspects of the business from physical trade performance, trade PnL, pricing curves, exposure, to projection and forecast of product availability.
Easily integrate with existing applications.
With industry standard API connectors you can seamlessly integrate 3rd party data with front and back office operations to create an end-to-end ETRM system.
Always ensure you’re accessing the latest technology by choosing cloud-based ETRM products.
Cloud-based ETRM software products always run on the very latest software. By using a subscription based model cloud purchases avoid internal capex negotiations saving time when getting a project approved. They are quicker to implement and offer a more cost-effective option when compared to the more traditional ETRM solutions.
Upgrade today to the only dedicated cloud-based oil trading software on the market
Techoil ETRM is Inatech’s latest cloud-based Energy Trading Risk Management software. It provides all the benefits highlighted above and is an ideal solution to replace your outdated or manual systems. By using the very latest cloud-based technologies, tools, workflows and applications, Techoil ETRM enables you to effectively run your entire business – never missing a deal and gaining the competitive edge needed to operate in today’s complex oil markets.
Discover more about Techoil ETRM by downloading the product brochure or book a demo here