Legacy (ETRM) Tools & Cost of Lockdown

Thanks to the COVID-19 pandemic we are all very familiar with the term ‘lockdown’. A situation where people lock themselves inside their homes to protect themselves from outside threats. Such a self-imposed lockdown also applies to energy trading firms continuing with their legacy ETRM systems, being apprehensive about the prospect of migrating to next-generation solutions. However, all of us have now come to realize that there are very costly economic and health consequences due to the pandemic related lockdowns, and this is no different in the energy trading market: Legacy (ETRM) Tools and the Cost of Lockdown. Today’s environment is pressing organizations to become more agile. We are living in an increasing competitive and fast-paced world. Conditions that put pressure on companies to change. Forward looking companies are leveraging next-generation solutions to accomplish what their competitors are still doing with inadequate systems that cannot solve their challenges. Those willing to take risk, step out of their comfort zone and into the discomfort of uncertainty will be those who will reap the biggest rewards. The ‘laggers’ are placing themselves in lockdown, trying to ‘play it safe’ with Legacy ETRM systems that were never designed for real-time operations, or for physical transactions,… continue reading

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Source: CTRM Center

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