The oil markets are undergoing rapid change. Global economies are slowing. Supply is abundant and prices are tanking. (Learn more in "Why You Need ETRM Software to Support Oil Transport.") But history tells us that lows are frequently followed by all-time highs. The net effect is that the complexity and volatility of the crude and refined markets are here to stay and will most likely increase in the coming years. It is important that marketers, refiners, and exploration and production (E&P) companies have real-time, advanced systems in place to mitigate risk, manage physical movements, and optimize decision-making. When researching energy trading and risk management software (ETRM), there are certain features that oil companies should look for.
Some of the features to look for in ETRM software supporting crude and refined products include:
Using ETRM software with these features enables traders, risk managers, schedulers, and back office personnel to gain a real-time view of required information from original trade through to final destination.
Next-generation ETRM software provides these benefits to oil companies:
"To support the future growth of SEI’s business and ensure our customers’ needs are met in a timely and profitable fashion, we needed to streamline the flow of information throughout the organization and reduce the amount of time spent on back-office paperwork and reporting. Of the multiple vendors we evaluated, Eka offered the most comprehensive and cost-effective solution. We were particularly impressed with the amount of time Eka spent with us to understand our business model and requirements."
— Scott Johrde, COO, SEI Energy
Dynamics in the crude oil markets are changing for a variety of reasons, including drastic price fluctuations, and will continue to change in the years ahead. Eka’s InSight CM - Oil platform provides greater control over trading, risk, and the supply chain for all oil market participants. Use Eka's InSight CM - Oil platform to manage the entire transaction lifecycle including deal capture, risk, operations, scheduling, and accounting, and gain a competitive advantage.
Eka understands the specific and unique requirements of oil companies, including marketers, refiners, and exploration and production (E&P) companies. We know that efficiently managing volatile prices and logistics is critical to your success. Partner with Eka to mitigate risk, manage physical movements, and optimize decision-making.
Eka’s next-generation ETRM software platform, InSight CM - Oil, enables oil companies to manage the entire lifecycle of crude and refined products including purchase, refining, blending, storage, transportation, sales, distribution, and trading. With InSight CM - Oil, all information on the buying and selling of an energy product is captured, including storage and transportation. The platform supports complex pipeline logistics and the necessary range of transportation types including truck, rail, vessel, and barge.