Previse Systems is very pleased to announce that Christine Clemons has joined our team as Product and Markets Specialist.
Christine brings a wealth of experience in consulting and implementing energy software to Previse Systems. With her extensive knowledge of gas and power markets combined with her solid understanding of the underlying challenges energy companies face day-to-day, her market expertise is a valuable addition to our customer delivery team.
It’s great to have you on board Christine!
Christine: Thanks, I’m super excited to be joining the [dream] team!
Q – What is special about Previse Systems?
A – Previse Systems has truly set itself apart from the rest. It has taken what are the downfalls and challenges of other vendors in the space and has realized them into tangible, competitive advantages. Instead of being a heavy, clunky piece of software – it is light, agile, fast, and super user-friendly. Its seamless front-end design and real-time position visualisation genuinely makes the system fun to use! Efficiencies never seen before in the space are introduced through the use of a common trade repository, predefined standard market data, and nimble development built on top of cloud-based infrastructure which is optimized for high performance. The bottom line – its cutting-edge technology rethinks the way ETRM software can and should be used.
Aside from the software itself, its team have an unparalleled passion for what it does, and this really shines through in its people and the product – this, to me, is incomparable to anywhere else in the space.
What do you see as the main challenges for energy trading companies in the coming years?
Not only are these challenges of the future, but they are also extremely current. Given the nature of the industry, energy trading companies are finding it harder than ever to stay current and keep up with advancing technologies and the innovations being made in trading industries. There are few obvious reasons for this, one being that apart from the expensive initial investment into an ETRM software, also the implementation and support costs are often even more expensive and usually takes years.
In addition to this, a lot of effort is sunk into defining standard market data and building market data interfaces, as well as to keep compliant with regulatory reporting requirements, etc. This is done by each company individually over and over again, burning valuable resources and time which could be better directed elsewhere. After all this time and money has been spent to realize benefits identified years ago, the market could very well have evolved since then and the benefits could no longer be as relevant.
How can Previse Systems support companies with these challenges?
Previse enables energy companies to become leaders of innovation in the energy space, while realizing benefits in a faster and more efficient way than ever before. By cutting standard implementation time down from years to months, initial implementation costs and general overhead to support the system are significantly reduced. Subsequently, reduced implementation time and costs better positions energy companies to address and keep up with evolving markets.
With the use of the ChorusLink common trade repository, a market-facing trade is captured only once as a single data object, allowing for the automatic confirmation of a deal inherently with both market-facing parties. Additionally, as standard market data is already predefined in ChorusLink, time and effort are saved by each company having to define and build market data interfaces themselves. This uniquely positions ChorusLink as the energy industry’s central backbone for master data.
Swift implementation, together with the benefits of a centralised data repository and the distributed development option of the Coral Ecosystem, ensure the fastest possible time to market for any innovations or response to changing requirements.