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Reporting in Energy Trading

11-12-2009 12:32 PM CET | Energy & Environment

Press release from: cronos imc GmbH

Heterogeneous data sources need to be meaningfully integrated into the reporting landscape

Heterogeneous data sources need to be meaningfully integrated into the reporting landscape

cronos imc combines expertise in energy trading and comprehensive reporting know how for an individual consulting service.

In a few days to custom-fit and specific recommendations: This is the target of cronos imc GmbH. cronos imc provides energy traders the individual analysis of their Business Intelligence (BI) landscape. The special value lies in the vendor neutral approach. Using a checklist, all relevant information and associated processes that are needed for a meaningful reporting, are closely assessed and potentials for optimisation are revealed. This procedure applies to all layers within the company: From the organisational structure to the data and processes to the underlying technical infrastructure. Gaps in data availability may be reduced specifically. Through the meaningful integration of the various information processes, the company therefore not only ensure a consistent data base. In most cases, they save time and money.

'Information as well as employees are the keys to the success of any business. Especially the energy wholesale market is subject to price fluctuations that have taken into account by the energy traders to minimize their risks on the one hand and the other to be able to fully exploit the potential profit', notes Andreas Nünning, managing director of cronos imc GmbH, due to its longstanding experience in the industry. 'A powerful BI system is the meat and potatoes especially in view of the complexity of wholesale energy', said Nünning further. A variety of heterogeneous information sources - from trading systems such as OpenLink's Endur to brokerage platforms such Trayport's Global Vision to external price feeds - have to be carefully integrated. Historical data have to be provided in a high granularity. Furthermore, access to detailed and historic OTC and exchange transactions plays a crucial role in analysis of market liquidity. What count are flexibility and integrity while focusing on individual reporting requirements and performance. In many cases those heterogeneous information is still provided by isolated stand-alone solutions within the company. Redundant and inconsistent data, obsolete and late information, erroneous reports, as well as ambiguities in the calculations are the result.

With the introduction of an integrated BI solution potentials for a mitigation of the trading risks can be utilised. According a practial checklist cronos imc GmbH investigates whether the existing reporting environment covers the requirements of both technology and business. These include not only data integration from various sources, but also the support of the end users by standard and ad hoc reporting as well as data mining, efficient management reporting and dashboards.

At the beginning of the analysis is a precise definition of strategic goals - together with the management, risk managers and traders. On the basis of the detailed assessment concrete recommendations are formulated which are completely vendor independent to generate the results as individual and functional as possible. The long standing expertise of cronos imc pools expertise from energy trading and technical implementation of BI solutions. The development of Business Objects reports for position and P & L analysis, the construction of auditable SAP BW reporting in risk management or the identification of trade instruments of the various markets and commodities are only a few examples from the extensive experience of cronos imc.

cronos imc is a member of the cronos group and one of the leading BI consulting companies specialised in the implementation of analysis and reporting solutions in energy trading, sourcing and distribution. The cronos imc has extensive practical experience in the design and implementation of BI solutions using tools from different software vendors.

cronos imc GmbH, Andreas Nünning
Wesel Str. 539 - 48163 Münster, Germany
Tel: +49 251 39966-0
Fax: +49 251 39966-9999

a.nuenning@cronosnet.de

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