03.06.2008 | Austria
S&T Sets its Sights on the Energy and Raw Materials Industry
Strategic Cooperation Initiated with Triple Point Technology
Creating Competitive Market Advantages
The drive for liberalization in the energy and raw materials sectors in many countries, as well as the increasing global demand for, and dependency on, raw materials also increases the pressure on this industry. Whilst the process of privatization is well advanced in Western Europe and the focus there is now on improving efficiency; countries in central and Eastern Europe now follow this trend of liberalization, often as a consequence of striving to meet the requirements for entry to the EU and the associated harmonization of legal systems and compliance with international directives and agreements. The prime issues here are the establishment of competitive advantages in an international market and the securing of energy and raw materials supplies.
Professional IT processes and solutions can make significant contributions to the competitiveness of these businesses. The integration of activities, from the management of contracts, trading, hedging, risks and finances, and customer monitoring to purchasing chains and logistics, in specialized trading platforms, improves process speed and efficiency, as well reducing transaction costs, lowering risks and increasing transparency. Customized systems strengthen planning certainty in volatile markets and allow decisions based on high quality data to be made rapidly. “With Triple Point we have secured a valuable partner for service provision and integration that is highly esteemed in the marketplace and, like ourselves, already has an excellent network of contacts in the target industry. Customers will profit doubly from this partnership – from Triple Point they will receive the leading system in this sector and from us they will obtain consulting services and implementation of individually tailored solutions”, explained Christian Rosner, CEO of S&T. “In addition, as a SAP Gold Partner, we can provide the standardized integration of solutions into existing SAP environments”.
The two companies will jointly roll out their portfolio of solutions in the S&T countries. This will be accompanied by training sessions for sales and technology experts, organization of customer events and initiation of marketing initiatives. The Triple Point software solution is a fully integrated trading and risk management platform which allows raw material businesses and processing industries to monitor their raw material portfolios and associated risks in real-time. This application integrates both physical and complex financial/derivative trading in a universal Front-Middle-Back Office system. It is a “best in class” application for the trading, purchasing, marketing, logistics management and transportation of raw materials and energy. Tarun Bhattacharya, Vice President of EMEA Client Operations at Triple Point Technology: “With its wide-ranging presence, S&T covers countries in Central and Eastern Europe, as well as Japan and China , which are all crucial markets for us. We will combine our strengths and utilize our access to customers in order to exploit the great potential of this market segment. The cooperation will result in a Win-Win-Win-Situation - benefiting us, S&T and, not least, the customers“.
About Triple Point Technology – www.tpt.com
Triple Point Technology is a leader in the area of trading and risk management solutions for goods including energy, oil, gas, coal, metals, agricultural produce, freight and biofuels. Triple Point Commodity XL efficiently manages the complicated and constantly changing requirements of both real and financial markets. Commodity XL integrates Front-Middle-Back-Offices and provides optimal functionality for supply issues, trade and portfolio management, risk management, marketing and the movement of goods, all via a single next-generation platform. Triple Point’s real-time system assists user organizations of all sizes in rationalizing business development, reducing transaction costs, maximizing the efficiency of the value adding chain, accurately recording market risks, assessing productivity and ensuring settlement and billing conformity.
With its headquarters in Westport, Connecticut, USA, Triple Point supports and supplies customers in Asia, Africa, Australia, Europe and North and South America from its development and support centers in Westport, Houston, Miami, Singapore, London, Pune and Chennai.
Triple Point’s award-winning applications are used by more than 25% of both the Global 500 Trading Enterprises and Global 500 Energy Companies, including Hess Corporation, HETCO, Lehman Brothers, Morgan Stanley, Fortis Bank , Glencore, WINGAS, Preem Petroleum, Engen Petroleum , Tesoro, Valero, OMV, BPCL, ConocoPhillips, Petronas, Oxy, CITGO, Commerce Energy and ITOCHU.