Energy Insights Releases IT Shortlist for Energy Trading and Risk Management Executives
FRAMINGHAM, MA – JANUARY 29, 2008 – Energy Insights announced today that it has published an Industry Shortlist to help executives evaluate IT suppliers in the Energy Trading and Risk Management (ETRM) area who best address the needs of the business. Energy Insights compared and contrasted nine vendors offering ETRM software applications and related services. The study includes essential guidance with specific recommendations for using the short list when evaluating IT suppliers for ETRM.
According to Energy Insights' new study, the market conditions for robust energy trading remain strong, with high and volatile energy prices continuing and electronic trading hitting higher and higher volumes.
"If an energy company has not evaluated its ETRM system in general and ETRM vendor in particular in the past three years, now is the time to do so," said Jill Feblowitz, director, Energy Wholesale Strategies and author of the study. "Competitive edge will come from informed and quick decision making in this fast-paced industry. The vendor that can handle thousands of transactions a day, process complex calculations with hundreds of risk factors in short order, and provide visibility into position across the front, middle, and back office will come out ahead."
Energy Insights' Industry Short List (Doc #EI210151) looks at nine ETRM vendors — Allegro, Navita, OpenLink Financial, SAS, Solarc, Sungard Energy, TradeCapture, Triple Point, and Ventyx. Among the key recommendations presented in this study are the following:
* Use the Industry Short List to help develop a short list of companies to consider. Each energy trading company will have specific needs, so it is important to go the next step in evaluating the offerings in relation to your needs;
* As with any new installation of software, pay attention to the business process and training. According to one CIO, "It is important not to rely on the tool rather than the process the tool supports," and;
* Push your vendor to provide a solution map that is tied directly to what you are getting. ETRM is complex; don't assume that a function you consider typical will be included in the standard offering.
Energy Insights used the Industry Short List methodology to compare technology providers with offerings in ETRM. The Industry Short List tool centers around three principles Energy Insights believes are critical in today's selection of an IT supplier: fact-based research, industry focus, and evaluation transparency.
About Energy Insights, an IDC Company
Energy Insights, an IDC company, provides research-based advisory and consulting services focused on market and technology developments in the electricity, natural gas, and oil industries. Staffed by senior analysts with decades of direct industry experience, Energy Insights' research spans the energy value chain — upstream, wholesale, delivery, and customer service — providing independent, timely, and relevant analysis focused on key business issues. Energy Insights serves a diverse and growing global client base, including electric and gas utilities, IT vendors, independent power producers, retail energy providers, oil and gas companies, equipment manufacturers, government agencies, financial institutions, and professional services firms. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more, please visit www.energy-insights.com .