New Excelergy Software Solution Transforms Energy Company Back Office Operations into Profit Makers.
LEXINGTON, Mass.--(BUSINESS WIRE)--April 17, 2002
Excelergy Trader BackOffice Automates Energy Scheduling, Settlement and Communications With Market Operators and Participants to Accelerate Revenues, Improve Cash Flows, Reduce Costs
Excelergy Corporation today officially released its newest software product, Excelergy Trader BackOffice, designed to automate To turn a set of manual steps into an operation that goes by itself. See automation. back office business processes for traders and generators participating in physical energy markets around the world. Excelergy Trader BackOffice is a highly scalable platform that automates the scheduling, settlement and collaborative communications necessary to facilitate trading in high-volume, real-time physical energy markets.
"Given today's renewed emphasis on asset-backed physical trades and physical markets, profit opportunities are now shifting to the back office," said Bill Mahoney Bill Mahoney (born June 23, 1936 in Peterborough, Ontario) is a former Canadian ice hockey coach. He was head coach of the Minnesota North Stars from 1983 to 1985. External links
Trader BackOffice's automation of scheduling, settlement and communications processes eliminates mistakes and inefficiencies associated with manual spreadsheet-based management of even the most complex trading deals. It minimizes missed scheduling opportunities and under- or over-scheduling errors, reduces settlement disputes, speeds dispute resolution and settlement, and ensures efficient communications with market operators and market partners alike. Excelergy's open, object-oriented, native XML XML
in full Extensible Markup Language.
Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. technology design allows easy integration with in-house or third-party trading, risk or accounting systems.
"Since energy trading markets emerged in the 1990s," added Mahoney, "they were dominated by derivatives trading, which required sophisticated front office IT systems to automate processes like trade capture and risk management. FERC FERC Federal Energy Regulatory Commission
FERC FEMA Emergency Response Capability and other government regulatory agencies regulatory agency
Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. around the world are now ushering in Noun 1. ushering in - the introduction of something new; "it signalled the ushering in of a new era"
first appearance, introduction, debut, entry, launching, unveiling - the act of beginning something new; "they looked forward to the debut of their new product line" a new era of standardized standardized
pertaining to data that have been submitted to standardization procedures.
standardized morbidity rate
see morbidity rate.
standardized mortality rate
see mortality rate. physical energy markets to ensure open and fair wholesale competition, bring down barriers to market entry, and gradually lower prices and improve service for billions of global energy consumers. At the same time, many large energy traders are once again placing greater emphasis on asset-backed physical trades."
"This growing emphasis on physical markets is producing a large increase in the volume and complexity of physical transactions, placing a huge strain on the traditional back office systems for scheduling, settlement and communications with market operators and market partners. Yet many energy back offices still rely on manual, error-prone spreadsheet management of these transactions. Trader BackOffice provides the technology to replace these profit-draining manual processes with profit-making opportunities."
In today's physical energy markets, a single missed or mishandled scheduling opportunity can cost a company millions of dollars in revenue--and thousands in penalties--within a matter of minutes A Matter of Minutes is an episode from the television series The New Twilight Zone. Cast
"While front office traders in past years have been busy hedging against supply and price volatility," concluded Mahoney, "they've often overlooked the back office threats to their profits, even though they have similarly harsh impacts on the bottom line. As physical markets continue to drive up the volume and complexity of physical transactions, fully automated back office operations are becoming a bottom line necessity."
About Excelergy Corporation
Excelergy is the world's leading provider of high performance software products automating mission-critical business processes in the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). energy and utility industry. Excelergy automates six core business processes--forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care--through its growing number of product lines. These highly flexible, scalable products are based on an open, object-based, Web-architected, native XML technology platform. Excelergy's North American North American
named after North America.
North American blastomycosis
see North American blastomycosis.
North American cattle tick
see boophilusannulatus. headquarters are located in Lexington, MA, with its European headquarters in Bristol, England and its Asia-Pacific operations based in Melbourne, Australia. More information is available at www.excelergy.com.