Wholesale Energy and Midstream Services Company Gains a Consolidated Reporting System with Eka TRM
Energy markets today are more volatile than ever with prices fluctuating often and dramatically. For organizations that produce, process, or market energy products, these sudden swings in energy prices impair forecasts and negatively impact bottom lines. In addition to volatile prices, complex transmission networks and changing regulatory requirements drive uncertainty, threatening profits.
A wholesale energy and midstream services company was looking to upgrade from its existing system of manual processes and disjointed systems to one that could scale with its growing business. The company was expanding into new markets — including crude oil and trucking/transportation — and required one consolidated system for reporting. It needed a system of record and calculation of risk numbers that was easy to manage.
Since most processes were done manually, reports were prone to errors, and end-of-day reporting was taking too long. The existing system was also not equipped to handle the company’s growth.
The company implemented Eka’s TRM solution to manage its complicated processes, including deal capture, trade management, operations, risk and settlement, with a single central platform. Eka TRM provides one system for risk management, including mark-to-market, exposure, P&L explained, and advanced risk capabilities with VaR and custom scenarios. It enables accurate regulatory reporting and manages exchange connectivity, market data integration, and GL integration.
The company now has one complete system integrated across front, middle, and back offices for use across North America. The solution allowed the company to expand seamlessly into new markets, from crude oil and coal to natural gas and RECs. It scales easily. The number of users has grown from 20 to 150.
By generating consolidated reporting on exposure by month, mark-to-market extract reports, and more, the solution ensures accurate representation across all business lines. It provides a centralized data repository for all the company’s risk data.
Eka’s advanced platform empowers users to make better, faster, smarter decisions by providing predictive analytics, visualization, and optimization.