Subi Philip, Director
Over the years, the nature of energy trading and risk management (ETRM) has evolved with the complex markets they serve. In turn, CIOs must deliver solutions that provide front office to back office support, enable business agility while managing risk, and connect organizations to the customers they serve.
“We combine deep knowledge of the energy industry and Salesforce expertise to help companies stay competitive and build meaningful relationships with customers," says Subi Philip, Director of the Salesforce practice at MRE Consulting. As a cloud-based platform, Salesforce is a flexible foundation for digital transformation. Developers can build and scale applications quickly in a low-code environment, delivering business impact quickly and effectively. Salesforce complements the rigidity of an ETRM, which is highly sophisticated to meet the needs of trading organizations and regulatory requirements. The process from concept to prototype to production is accelerated, driving technology innovation. "Leveraging the Salesforce platform is helping to drive digital transformation initiatives. Its artificial intelligence capabilities are helping to uncover new business insights for decision making." explains Subi.
ETRM systems must be able to offer high-volume batch processing, enhanced risk analytics tools, and complex reporting capabilities to help firms calculate sophisticated intraday positions and meet regulatory requirements. While these factors play a decisive role in choosing the right ETRM solution, there is also the need for companies to implement, optimize, and maintain it as per their business goals. Achieving all these can consumes time, financial resources, and, most importantly, requires expertise—criteria not everyone can meet.
Founded in 1994, MRE Consulting is a technology and business consulting firm that helps companies solve tough challenges, create value, and be competitive. It is a leader in commodity trading and risk management systems and offers consulting services spanning technology strategy, customer relationship management, business intelligence, regulatory compliance, and professional staffing services. The company has established itself as a premier partner for energy clients. "MRE exists to serve its clients. We leverage a combination of our technological expertise, proven methodology, and a sculpted business strategy to build lasting solutions that always serve them in their best interest," says Bill Bucy, Partner, MRE Consulting.
The company strives to apply its shared experience to each business problem and tailor-make a solution that's purpose-built, scalable, and delivered on‐time. "Our approach considers the needs of current operations while introducing processes and technologies to realize new business value," asserts Bucy. To elaborate, he highlights an instance of MRE working in liaison with a large natural gas supplier. The client had integrated recent acquisitions as part of its growth strategy to increase and diversify its customer base, suppliers, and geographic locations. Prior to MRE’s intervention, they used multiple systems to conduct their business, making it challenging and costly to analyze, transact, and report information for customers and employees.
Bill Bucy, Partner
MRE offered an integrated solution that included an enterprise Energy Trade Risk Management (ETRM) system for commodity trading, a custom Salesforce (CRM) solution for real-time quoting, and a Salesforce web-based portal for customer engagement. This helped the client streamline their systems and processes, while redefining the customer experience to reduce total cost of ownership.
Our approach considers the needs of current operations while introducing processes and technologies to realize new business value
In another case, MRE collaborated with an integrated energy company in the UK that needed a risk management system to replace multiple external systems, provide enhanced efficiency and risk transparency for trading and energy services businesses, and enable them to better serve their customers. “We conducted an assessment to select and design an ETRM system to fit their needs and determine how to best support all commodities, and provide significant improvement in functionality, risk transparency and scalability,” says Bucy.
The company typically begins its client engagement by understanding customer requirements, processes, and technology stack through a well-thought solution-based assessment. MRE then maps its solutions into strategy work, implementation work, and support work. Customers can leverage MRE's expertise in multiple areas—from software selection to application support—and ensure that they have the most suitable platform. While delivering these solutions, MRE takes a business-case approach to help clients understand the perks of implementing the selected platform and its impact on their business through KPIs.
MRE adopts a similar strategy to deliver its services as well. "After assessing the client's current processes, our professionals determine the type of subject-matter experts needed to complement their existing staff and identify the MRE consultants with the appropriate skills," says Bucy. These consultants can act as an extension of the client's team or work independently, on-site or remotely, for any length of time. In the event a customer is falling short of talent or is looking to hire, MRE also helps them recruit employees through its extensive network of contacts, along with a refined screening process to select the best suited candidates.
What's gives MRE an edge in this market is its partnership with Salesforce. Leading energy companies and banks in the ETRM space partner with MRE to leverage core Salesforce capabilities like automation, collaboration, IoT and artificial intelligence (in a Cloud delivery model) to increase innovation, reduce costs, and support the rapidly evolving energy trading space.
“Our goal is to build a perpetual firm based on putting people first. That means long term relationships with our clients, consultants, and the community,” says Philip. With no signs of stopping, the company envisions continuing to drive innovation by bringing together people and technologies that drive business forward.