Value
& Benefits
Market changes, uncertainties and unpredictability
are today a fact of doing business. Traditional responses
to changing market conditions are no longer good
enough. Standard Market Design initiatives will bring
major changes to the industry – all of which
will require significant technology adjustments.
Standardization will significantly impact business
practices and cultures. Participants will require
one set of data and architecture for management information
systems able to support a dynamic environment for
real-time decision making to optimize assets, exploit
opportunities and create value through rapid response,
instantaneous and effective analysis, hedging and
thorough and accurate reporting.
In an open market, companies must trade to:
- Buy and
sell energy
- Balance supply and demand
- Avoid penalties for imbalance
- Manage risk
- Obtain best price to stay competitive
and protect profitability (or for public power
companies to meet load requirements at the best
possible price)
- Optimize business activities
With trading being an ongoing activity while the
market continues to change, this requires a platform
that provides the flexibility to reconfigure capabilities
easily and the ability to add new generation, products,
markets etc without a major system overhauls.
Measuring all information through
the ability to view data in any way is key to an
overall transaction
management infrastructure. Combined with the company
risk management policies, this will bring value to
an organization in various ways:
- Lower trading
cost
- Reduced inventory cost
- Increased business opportunities
- Reduced credit
risk
- Reduce counterparty risk
- Optimized usage of physical
assets
- Better utilization of personnel
SoftSmiths Differentiators
 |
"Powerful
solutions that transform your business" |
Focus
SoftSmiths' entire focus is on
creating, integrating and delivering scalable,
adaptable and tailored energy
transaction management systems for Load Serving Entities,
Generation Production Entities (GPE), Purchasing
/ Selling Entities, Transmission Providers and Control
Area Operators who operate in physical markets to
sell, purchase, trade and deliver energy in the most
efficient and cost effective way. SoftSmiths’ solutions
improve visibility of the process and transaction
data allowing users to make faster and more informed
decisions that can improve profitability, operational
efficiencies and cash flow.
SoftSmiths help customers succeed by developing
true partnerships; working with our customers to
provide solutions to real world challenges, that
best meet their requirements and completely support
their operations.
SoftSmiths accomplish this through:
- Employing
our in-depth understanding of industry business
practices.
- Using
our experience in developing and deploying
scalable, high-volume transaction management systems
- Integrating
the best and most cost-effective technology
into a lower-cost higher-value transaction
computing
model.
- Having a track record of solving the complex
challenges brought by deregulation.
SoftSmiths provides:
- Seamlessly
integrated end-to-end solutions from deal capture
to settlement, supporting straight-through-processing
within a single data repository. This means
that a deal is entered into the system, scheduled
and
/ or booked out, checked out, and settled as
a single object, with a single audit trail documenting
all actions taken on it.
- Solutions that enable commercial,
operational and security/reliability entities
to interact in
a real-time and user-friendly environment.
- Solutions
that enforce and support business processes thereby
improving information control, communications,
visibility and efficiencies, and
- Enable utilities
to conduct and manage next-hour, day-ahead
and long term transactions
- Organize physical
schedules in a single, disciplined repository,
- Manage the interrelationships
between reservations and energy
schedules,
- Create, submit
and manage NERC e-Tags,
as electronic schedule requests,
via an integrated
transaction
management process
- Support pre-schedules,
real-time and after-the-fact checkout
activities,
- Facilitate the management and
notification of transaction
curtailment, and
- Facilitate the reservation
management and grandfather contract
management
- Facilitate exchange of transaction
data among EMS, Accounting
and Billing
system
- An integrated
Business Solution
- Business Practices Knowledge
- Breadth of Product
- Integration and Delivery
- Custom Capability
- Service & Support
- Turn-Key solutions (hardware,
software and integration)
A new Solution – for
a new era
- Developed from the ground up using
industry standards for reliability, performance,
openness
and portability.
- Subscribe & Publish
Architecture
- Developed with
an approach to look at the challenges from a
business perspective combined with our in-depth
industry knowledge.
- Striving to make technology conform
to the business, not vice-versa
- Delivering a seamlessly
integrated end-to-end solution from deal capture
to settlement, centralized around
a single repository.
- Excels in an environment with
physical business deals (energy is flowing and
being delivered)
- Providing interoperability and extensibility
capabilities using interfaces consistent with
the electric industry
and internet standards (among other XML, SOAP)
- Supporting
changing business practices through an unmatched
level of adaptability, flexibility and
scalability.
- SoftSmiths proven
solutions are designed to help utilities manage
the increased volume
and complexity
of energy transaction management brought on by
deregulation—we
provide our customers with a competitive edge,
not just another tool.
Ease
Of Use
- Interfaces
and features that address the business users’ needs for every-day use
and are laid out logically and intuitively—SoftSmiths
is not a rigid, one-size-fits-all solution
- Drill
down capabilities (slice & dice the information)
Flexibility
- SoftSmiths’ solutions
evolve with the marketplace and the business
to solve real, ongoing challenges
for public utilities
- SoftSmiths take the time to understand
the role of each business unit and mold products
around them
to deliver flexible solutions that will help
customers now and adapt to their needs in the future
avoiding
re-writing software every time business rules
change.
Adaptability
- SoftSmiths doesn’t
lock customers into a solution that will be outdated
in three years
- SoftSmiths’ solutions
can be easily and cost effectively tailored to
fit
- SoftSmiths’ solutions
are not legacy systems retrofitted for new
requirements, they
are tools
that can be tailored for any public utility
in any region.
Scalability & Maintainability
- e-Merchant
and e-Wheel utilize a multi-tiered, multi-threaded
application framework specifically
designed to support the development and deployment
of large-scale, high-volume, distributed, commercial
applications, with hundreds of users, and hundreds
of thousands of transactions
Interoperability/Extensibility
- To
interface with custom and/or off-the-shelf applications,
customer interfaces can be developed using
the e-Link XML API. The system as shipped interacts
with all NERC compliant tagging services and
FERC
compliant OASIS nodes.
- e-Link interfaces are designed
using publish and subscribe, so transfers are
event driven and occur
as events take place.
- EMSLink provides seamless
integration between 3rd party Energy Management
Systems and SoftSmiths
e-Merchant
(and e-Wheel). It provides net scheduled
interchange data in the required format to EMS/SCADA
systems
for use in Automatic Generation Control (AGC).
It complements the capabilities already provided
by
e-Merchant (and e-Wheel) to make use of EMS/SCADA
information, such as meter data, to perform
control area energy accounting functions such as
calculation
of inadvertent interchange
System Availability
- The
system is defined with high availability and
can be configured with fail over capability to
self-recover in the event of hardware failure—so
business critical transaction management
data is available to the customer at the
right time
and
place.
Intimate
knowledge of the industry and customers’ needs
- Thorough
understanding of how regulations and competitive
standards impact our customers’ organizations
- Understand
how the physical business/transactions works
and how to alleviate inefficiencies and redundancies
in customer operations
- “In the trenches” with
customers, attending work groups, SMD conferences
- SoftSmiths are thought
leaders in the (physical?) transaction management
space
Service & Support
- Our
approach to technology and customer services
is based on our commitment to helping our customers
succeed by developing true partnerships.
- SoftSmiths
offers different levels of technical support
and maintenance services, including 24x7,
so you can select the service levels that fit
your business needs.
- We offer a full spectrum of services
from business analysis, system implementation
use and IT training,
to Turn-Key solutions, including hardware,
software installation and configuration.
Benefits
Operate efficiently and
reliably while monitoring critical performance
- Improves
visibility into resources and obligations in
real-time as the volume and complexity of transactions
increase improving reliability, reducing costs
and
minimizing errors
- Improved decision making through
the delivery of accurate and timely information
to the right person,
at the right place, at the right time
- Enhances reliability
through improved ability to plan, forecast and
execute
- Availability of and
access to reliable and timely information enhances
business process effectiveness
and reduces costs—turning risk into opportunity
Improve
Customer Service and differentiation
- Through improved
accuracy of invoices and statements building
trust and differentiation for customers
- Improved ability
to measure value of products offered
Reduce
the settlement cycle
- Improved cash flows as a result
of more accurate and timely back-office information
- Reduced and easier to resolve
disputes in the settlement process result in
increased speed to
booked revenues
- Enhanced capability to monitor
the market and contractual requirements to
avoid cost (i.e.
congestion fees,
penalties)
Reduce
Complexity
- Increased efficiency
of processes throughout the enterprise, real-time
knowledge
of positions,
resulting
in reduced costs and increased optimization
of resources
- Allows for quick, one-time entry
of deal information, supporting straight-through
processing
in its deal
capture, deal valuation, risk measurement,
tag creation, reporting, scheduling (visibility
into
OASIS), metering
and settlement capabilities, that eliminates
entry redundancies, transaction errors and automates
the various manual steps currently needed.
- Centralized
around a single data repository to enable all
reporting activities and data transfers,
and to query this data for ad-hoc report
creation.
- Through
the assignment, definition and enforcement
of roles/responsibilities, business process
and audit trail capability (Security)
- Improved
ability to respond to regulatory requests
ROI
By deploying SoftSmiths
solutions, customers achieve measurable ROI by reducing
their cost of doing
business and avoiding unnecessary costs and penalties.
With SoftSmiths, customers can grow revenues, improve
cash flows, increase staff productivity and improve
service quality for business partners and customers
by streamlining processes, keeping current with
evolving industry standards/regulations and having
real-time access to business-critical information
enterprise wide. If an organization knows what
its resources and obligations are in real-time,
it is better prepared to make decisions that can
positively impact the health of the business. Having
the power to make better-informed decisions, impacts
ROI immediately. Customers rely on an established and knowledgeable
partner
SoftSmiths partners with customers to help address
and plan for uncertainties such as market changes
and new regulations, for example, (FERC orders, SMD,
RTO structural changes). SoftSmiths constantly track
industry changes modifying its standard products
accordingly and rolling them out to help customers
migrate and adapt to evolving regulatory standards
and survive in the new business environment.
SoftSmiths achieve this through:
- Adaptability/Flexibility: SoftSmiths has designed, developed and deployed
its systems to meet the
diverse challenges of changing business practices.
Having this level of flexibility, scalability
and adaptability is unmatched in the energy commercial
software product market.
- Maintainability: covered
by a maintenance agreement the product is updated
and enhanced on a regular
basis, it does not have a replacement cycle.
New technologies are incorporated in major releases
of
the product.
- Scalability: application framework specifically
designed to support any size operation, up to
and including large-scale, high-volume, distributed,
commercial deployments. The system can initially
be deployed at any scale and grow with your business,
whether the transaction volume increases or the
number
of users.
- User Friendliness: Interfaces and features addressing the business
users’ needs, resulting
in a high rate of end-user adoption.
Quick Reference Features and Benefits
| BENEFIT |
ACHIEVED BY |
BUSINESS IMPACT |
| Improved decisions |
- Single repository, straight-through-processing,
information sharing and consistency
|
- Company-wide information
sharing which supports:
- Visibility into resources and obligations
in real-time
- Overall risk management
- Improve
financial positions across all parties
to
Reduce cost
- Minimize errors
|
| Reduced operational risk |
- Improved system availability
- Enhanced
security
|
- Minimized business disruption through
system loss
- Reflects continuity and reliable
business
|
| Flexibility |
- Configurable to market changes and
changing business needs
|
- Ability to innovate and adapt solutions
to business needs
|
| Scalable and robust |
- Built for growth and resilience
|
- Ability for system to grow with the
markets
|
| Business responsive |
- Improved functional coverage
- Delivered
faster
|
- Improved Time-to-market of new products
and service to market
|
| Higher benefit/cost ratio |
- Reduced effort for functional upgrades
- Integration
with legacy systems
|
- Greater return from systems investments
- Maintains
the value locked in legacy systems
|
| Technology innovation |
- Easier to introduce new technology
- Less disruptive
|
- Ability to technologically innovate
without major business disruption
|
The Power of the Integrated Solution
Automatic Scheduling
e-Merchant includes the Trade
Blotter for quick entry of common transactions,
such as buying power for
load or selling excess generation. Traders enter
only a few unique values, such as counterparty,
MW, and price - and e-Merchant automatically
creates schedules, reserves transmission and creates
an
E-Tag.
Straight forward, quick and simple.
Contact us
for more information at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more
Automatic Transmission Reservation
e-Reservation provides automatic
real-time interaction with one or more OASIS nodes simultaneously and allows
you with a SINGLE application to:
- gather requests
and reservations, and integrate these into the
overall transmission inventory,
- submit, withdraw,
rebid, and confirm requests,
- gather and
display availability (ATC) and pricing information,
and
- download
lists of points, products, and other administrative
data.
Contact
us for more information at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more
NERC E-Tag Automation
Why
enter deal and schedule data twice, when you can have a
scheduling system tightly integrated with a tagging
system, as SoftSmiths has done with its SoftSmiths Power
and Transmission
applications? SoftSmiths' Electronic
Tagging Portal Suite (ETPS) software supports
integration with your scheduling system or ours. This
includes both automatic tag creation from your schedules
when you are the author, and automatic
schedule creation from tags authored by
others, thereby streamlining your scheduling process,
avoiding double entries and eliminating potential
errors.
Contact us for more
information at 713-626-9184 or at mkt@softsmiths.com. Click
here to learn more Settlement and Reconciliation
Since there can be so many discrepancies (errors
in schedules, dispatch instructions, delivered
energy from transmission grids etc) you may leave
money on the table if they are not in your favor.
Without a system that can identify an error, you
can never verify what the RTO/ISO tells you is
correct. e-Market provides you a solution for this
'shadow settlement', to help you :
- Ensure the accuracy
and validity of the RTO/ISO’s
final settlement amount.
- Minimize
time-consuming settlement reconciliation activities
- Produce backup
documentation to support disputed settlements
Contact
us for more information at 713-626-9184 or at mkt@softsmiths.com. Click
here to learn more
Real-Time Integration
Our
e-Link application enables you to seamlessly
integrate back-office systems for risk management,
trading, scheduling, generation, load, meter, and
NERC E-Tag information.
Critical information is transmitted in real time,
optimizing decision-making processes enterprise-wide.
- EMS/SCADA
system to e-Merchant
- Meter data
to e-Merchant
- e-Merchant
to Financial Applications
- e-Merchant
to Risk Analytical Applications
- Pricing Feed
to e-Merchant
Using
Subscribe and Publish architecture, critical information
is transmitted in real time,
optimizing decision-making processes enterprise-wide.
Contact us for more information
at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more
An Integrated Solution from Fuel Management to Spark Spread to Transaction Reconciliation
In a ‘back-to-basics’ marketplace
that deals with a difficult environment due to high
fuel costs, you can now have complete insight into
your cross-commodity, heat-rate linked transactions,
optimize your portfolio of generation assets, reduce
cost, and increase revenue opportunities.
Contact us for more
information at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more
How
to Optimize Gas Trading and Streamline Back-office
Operations?
In a commodity-short market with high
and volatile prices, a single platform is required
to truly achieve front and back office optimization.
SoftSmiths' e-Merchant for Natural Gas provides optimized
gas trading and scheduling on a single system platform.
Benefit from a seamlessly integrated system that
requires no off-system spreadsheets, provides communication
via EDI, and updated NAESB standards.
Contact us for more
information at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more
How
to provide critical visbility to your Asset Managers,
Dispatchers and Power Marketers and decision making
tools to improve yield form you asset capabiities
and power portfolios?
In today's electric energy market place, the delay in bringing Generation and Marketing information together puts Asset Managers, Dispatchers and Power Marketers at a disadvantage in optimizing assets and maximizing return. Firms suffer from not having true integrated real-time visibility into their generation and marketing activities. SoftSmiths' e-Merchant delivers the crucial link between Energy Management Systems and Marketing activities.
Contact us for more
information at 713-626-9184 or at mkt@softsmiths.com.
Click
here to learn more System-Ready for Sarbanes-Oxley
SoftSmiths
offers seamlessly integrated end-to-end solutions from
deal capture to settlement, supporting
straight-through-processing within a single data
repository. This means that a deal is entered into the
system, scheduled and / or booked out, checked out, and
settled as a single object, with a single audit trail
documenting all actions taken on it.
Benefiting
from the centralized single data repository, the system
provides the ability to:
ü
Assign, define and enforce roles and
responsibilities, business processes and audit trail.
ü
Eliminate entry redundancies, transaction
errors, and automates existing manual processes
ü
Display and monitor real-time knowledge of
positions and credit exposure across the enterprise
ü
Improve response to regulatory requests
and new reporting requirements
ü
Ensure integrity of financial results
We support your company’s documented Sarbanes-Oxley
processes and controls through such key features as
Security, Straight-Through-Processing, Automation ,
Audit Trail and Process Adaptability.
SoftSmiths’ Energy
Transaction Integration Manager (ETIM)
solution enables companies operating in the wholesale
power and gas markets to build and implement a
flexible, real-time, and efficient enterprise-wide
Transaction Management Infrastructure (TMI),
integrated with all of the key applications in the
transaction chain.
Contact us for more
information at 713-626-9184 or at mkt@softsmiths.com.
Learn more about Sarbanes-Oxley on
our resource
page.
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