ETRMs in the Post-Covid 19 World: Key takeaway from the Energy Trading Week

The panel discussion underscored the importance of technology advancements, including cloud, artificial intelligence and machine learning, to help businesses manage these challenges, whilst accelerating cost reductions and enhancing decision making capability.

It was interesting to note the challenges business users face.  Ideally, a flexible and robust system provides a single source of truth – a standardised view – and puts power into the hands of the user.  Business users need better clarity of processes, clearer workflow management and easy access to data for analytics reporting.  Ultimately this should be self-service analytics and reporting, which is consolidated across different applications and can be used with advanced analytics tools to improve business decision making.

The discussion also highlighted the importance of integrating the ETRM ecosystem with other systems, for example ERPs and accounting tools, and the complexity of managing in a multi-ETRM world where different ETRMs have their own shortcomings and strengths.  This complexity is compounded in larger organisations that have numerous ETRMs and CTRMs and near real-time requirements.

Digiterre’s enterprise-ready platform, DataMax, takes the most complex elements of real-time data management and makes them simple to develop, deploy and operate at scale.  Its unique architecture, process and combination of specific technologies rapidly moves trading organisations from disparate data and reporting sources to a single view of data – providing the insight needed to run a business with optimal efficiency. The approach has proven to scale and is cloud deployable.

Register here for our upcoming webinar on Wednesday 29^th October to discuss further on our DataMax platform and how this can be used effectively to improve decision making and increase competitiveness in energy trading.