Issue
The client is the physical energy trading subsidiary of a large multinational financial trading and investment firm.
Following the refined-products re-implementation, a second phase had to capture physical natural gas trading:
- Scope covered trade entry, scheduling, actualizing, and invoicing for physical gas.
- Staff new to both the client and the system would have to operate it.
- The client needed to be self-sufficient in the new commodity quickly.
Solution
MidDel leveraged deep commodity experience to define processes and ready the client:
- Ran focused front-, middle-, and back-office discussions to define requirements.
- Configured test transactions across the full trade lifecycle - entry, pricing, inventory and logistics, confirmations, invoicing, credit, and reporting.
- Prepared detailed job aids and delivered familiarization training on natural-gas configuration.
Result
System and staff were ready for go-live in under three months.
Job aids and training let staff new to both the client and the system add counterparties, enter and schedule trades, and settle without further consultant help.
Key Takeaways
- Self-sufficiency is engineered, not hoped for. Job aids plus familiarization training let staff new to both the client and the system run setup, trade entry, and scheduling themselves - reaching go-live in under three months.
- A new commodity is a new failure surface. Documenting the full trade lifecycle - entry, pricing, scheduling, settlement - before go-live surfaces the commodity-specific edge cases a generic rollout plan would miss.
Ready to do the same?
Adding a new commodity to your ETRM? MidDel configures the full trade lifecycle and leaves your team the job aids to run it without us. Let's talk.
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