Renewable Energy Group (REG) Gains Real-time Consolidated View of Position
Renewable Energy Group (REG), a large biofuels company, needed a real-time consolidated view of its position to enable better business decisions. The data required to create position reports resided in disparate systems – including commodity trading and risk management systems, inventory management platforms, and spreadsheets – making data consolidation challenging. Hedging decisions were often delayed because the market would move by the time the company had enough visibility into its true exposure. As a result, opportunities were missed and the company faced higher risks due to delays in identifying market risk.
REG implemented Eka’s Position app to empower it to identify market risk in near real-time and also provided heating spreads, positions, compliance reports and executive dashboards
- Eliminated manual reconciliations to view exposure at the click of a button instead of waiting days for manual reports
- Eliminated any chance of human error while aggregating, blending and analyzing inputs from all data sources