Global energy trading company, AOT Energy, has selected risk management software firm, Aspect Enterprise Solutions, to improve the efficiency of business transaction processes.
AOT Energy deployed the AspectCTRM to support physical and paper transactions and operational reports for its Belgium subsidiaries.
The CTRM will support hedging, broker reconciliation, pricing, credit risk and inventory and operations management including truck distribution and sales.
AOT Energy will deploy the solution for subsidiaries in Asia, Europe and North America to improve operational efficiency in the petrochemicals, renewables and gas sectors.
Philip Goedkoop, AOT Energy’s Global Project Manager for its AspectCTRM deployment, said: “Aspect’s extremely flexible technology allowed our internal IT group to extend the solution to handle some of our most complex business operations and tax rules.’’
Using the application, subsidiaries of AETO Energy will be able to enter and access data using a single platform, a development which will help the company to save money and time.
In related news, German utilities holding firm, Entega AG, partnered with smart grid solutions company, Hitachi, to help its subsidiaries to optimise their services leveraging automated energy trading.
The partnership aims to help utility firms optimise their revenue generation and customer services through management and increased integration of distributed energy and renewable energy resources with grid networks. Read more...
Following the development, German gas transmission system operator ONTRAS selected Ciena to upgrade its communications network.
Ciena is partnering with telecommunications solutions integrator Kapsch CarrierCom to upgrade communications infrastructure and technologies to improve the reliability, security and stability of the gas transmission system.
ONTRAS is upgrading its wavelength division multiplexing (WDM) communications network by integrating it with Ciena’s Ethernet packet switches 3942 and 3932.
The upgrade will increase bandwidth from 155Mbit/s to 1 Gigabyte and expand network capacity by sixteen times from 622Mbit/s to 10 Gigabytes. Read more...
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