While many of the legacy energy trading and risk management (ETRM) systems did the things they needed to do for a long time, many investors are now finding they're not apt for today’s era. Technologies like cloud computing and componentization aren’t available. That’s why shifting and adopting modern ETRM technology may be the right move, says Opportune Managing Director Kent Landrum.
"Really that end-user experience at the end of the day is what it's all about. All the architechural changes are great as long as they're providing the opportunity to do those sorts of things.”
Niall McCarthy, head of global sales at CTRM Cloud, explains that while the company is relatively new in the ETRM technology ecosystem, it's seeing the tremendous value cloud-based ETRM technology can bring to customers who are looking to modernize their legacy ETRM systems.
"We can build a system and bring it to market infinitely quicker than in the past," McCarthy says. "Those advantages then get translated very quickly to the consumer in terms of faster deployment, remote implementation, and continuous product enhancements. So, the ability to build and scale a platform in the cloud really changes the paradigm and provides consumers a whole slew of new choices."
Traders also need to be adaptable, especially during times like the COVID-19 pandemic. With markets and various regulations shifting often, not only does a post-modern ETRM approach make more sense working from home, but it also can give more space to make changes on the fly.
"Flexibility is critical when there's uncertainty and this approach provides the most flexibility.”
“Flexibility is critical when there’s uncertainty and this approach provides the most flexibility,” adds Managing Director Stephen Bell. “The reality of the situation is that, along the way, it’s been very difficult to know even what the next three months look like in front of you. The more you can introduce flexibility, the more you can react to uncertainty. I think that’s one of the biggest advantages of taking this approach, particularly in today’s environment.”
Head of Global Sales | Cloud ETRM