First-Class and Fully Loaded.
Why pick Entrade?
Selecting a software vendor commits you to a long-term partnership. Some software vendors are more committed to a partnership and good customer relations than others. Enuit prides itself on this point: All Enuit clients are happy with the Enuit’s software, service, and support. We welcome you to join our list of happy customers.
Our customers can expect Enuit to keep Entrade current and up-to-date. Entrade is continually being enhanced and upgraded with new and important features and functions. And, Enuit makes sure that migrating from one version of Entrade to the next is painless. This isn’t true of every software vendor. You won’t find another software provider more committed to, and with a better track record of, software version management.
One “Gotcha” Enuit avoids is custom software patches, or product extensions, so called, which are not part of a product’s migration path. Non-upgradable product extensions are very common with software from other vendors. But, not at Enuit. Instead, we work software modifications into our core product. And, we ensure that one version easily migrates to the next version, painlessly. The benefit is that each of our clients gets to share the benefits of enhancements to Entrade without a great deal of upgrade costs.
Entrade really works. It has all the functions you need to run your commodity trading business. It helps you with:
- Negotiating and recording deals
- Scheduling physical commodity movements
- Tracking primary and secondary costs
- Monitoring inventory levels and costs
- Actualizing deal volumes
- Pricing in deals
- Calculating settlement amounts
- Generating invoices
- Monitoring all business- and market-related risks
- Providing useful reports for all aspects of business
And, Entrade handles the little details, which trip up many similar systems. For instance, what if a system like Entrade didn’t convert correctly units of measure correctly, which is something you would naturally take for granted? Answer: Big reporting problems. Fortunately for you, Entrade has all the business rules to convert between volumetric measurement units, price measurement units, differing contractual and reporting currencies, and resulting FX exposures.
Entrade has a pricing engine to decompose embedded risks in even the most complicated price formulas imaginable. And, it correctly calculates settlement values for priced-in deals. So, whether you trade physical or financial commodities, Purchases or Sales, Buy-sells or Exchanges, you can be assured that Entrade will correctly report risk exposures and generate both estimated and final invoiceable settlements.
Entrade has wonderful features to manage logistics of physical trading. This is where many E/CTRM systems fail. You can count on Entrade, though, to do it right. Tracking inventory levels and costs, including both primary and secondary costs, from a point of commodity acquisition to a point of ultimate sale can be fraught with many challenges attempting to manage all the details. But, this isn’t the case with Entrade. Entrade tracks all primary and secondary costs and fees from point of original purchase through various stationary and in-transit inventories all the way to points of ultimate delivery.
It doesn’t matter how product moves from one point to another, whether by Truck, Rail, Pipeline, Barge, or Vessel, Entrade’s scheduling functions and reports accumulates the primary and secondary, estimated and actual costs, and estimated and actual volumes as product move downstream through a supply chain.
And, most important of all, Entrade has reporting capability unparalleled by any other vendor of similar software. Entrade is delivered with many standard reports out-of-the-box. No customization or expensive setup is required to get you your reports to managing your business operations. Here are some of the reports you would expect to see out-of-box.
- Volumetric positions
- PNL (Profits and Losses)
- Storage, in-transit, exchanges, processing
- Estimated and Actual volumes and costs
- Movement documents
- Deal confirmation letters and Contracts
- Payables and Receivables
- Market Risk Exposure
- Mark to Market Calculations
- Option Pricing Model Results
- Value at Risk Results
- Monte Carlo
But, the reporting capabilities in Entrade do not stop there. Entrade has best-in-class ad-hoc reporting capabilities. You can turn any SQL statement into Excel-like pivot reports in minutes with Entrade’s pivot reporting designer. You will not need to keep expensive consultants on staff indefinitely for the sole purpose of getting you answers to new questions you want to ask about your business. You can answer your questions yourself.
And, Enuit provides you with Entrade’s data model so that you know where the data is stored. Not every software vendor is so open with their data model. But, Enuit is. It is just another important benefit of being an Enuit client, a point not usually considered in the vendor selection process. We see our clients as business partners. We want our clients to be successful.
Commodity Trading Features
Commodity trading is a dynamic, ever-changing business. Each facet of a business operation needs to consume lots of information to perform its function well. Here are some areas of business operations and the type of information Entrade provides out-of-box to enhance functional performance:
Negotiating deals. While Entrade cannot, and should not, determine whether one deal is better than another, it can tell a trader what a trader’s positions are in real-time, whether a trading partner has proper credit, what the estimated market price is, etc. Entrade has deal templates, or deal blotters, to make recording deals an easy process for every type of deal a trader may initiate.
- Credit Management
- Transaction Capture
- Secondary Cost Capture
- Confirms and Affirms
- ICE & CME Interfaces
Scheduling deals. Matching receipts and deliveries of obligations is just the first step to schedule commodity movement. Where the rubber meets the road is monitoring inventory levels to “plan” so that organizational targets can be met from month to month. Entrade associates all primary and secondary costs with deals and logistical movements. Primary and secondary costs affect inventory costs as product flows from production point through various stationary and in-transit inventories to points of final consumption.
- Inventory Management
- Inventory Valuation
- Shipment Scheduling
- Event Management
- Operations Reporting
Actualizing deals. Entrade estimates delivered volume in order to calculate estimated costs, and therefore estimated profits, until actual volumes are available. Then, as costs are actualized throughout a delivery period, month-end profit projections will true up by month’s end. Entrade performs an analysis of estimated and actual volumes and costs so that operational estimates get better over time, too.
- Trade Settlement
Settling deals. Entrade uses the best available volumes (BAV) and calculated deal price to produce settlement data, which is used to produce invoices and remittance advice statements. Then, it generates journal entries for settled deals, which can be sent to a general ledger or ERP system via automated or electronic means. Entrade provides transaction details for primary and secondary costs and charges.
- Invoice Generation
- Payment Application
- Secondary Cost Billing
- Asset Settlements
- Accruals Reporting
- G/L Interface
- Trade Finance
- Broker Statement Reconciliation
- Cashflow Management
- Treasury Management
Managing risks. Entrade monitors all inherent business risks in the trading business: Price, currency, basis, logistics, options, and credit. Entrade has many useful reports to show business exposure to market movements. And, it comes out-of-box with option models and value-at-risk calculation methodologies.
- Strategy Management
- Portfolio Management
- Hedge Management
- Effectiveness Testing
- Option Greeks
- Curve Management
- Exposure Valuation
- Market Price Capture
- Value-at-Risk Reporting
Reporting. Entrade comes out-of-box with lots of standard reports, which are updated in real-time in Entrade report forms. Entrade also has an ad-hoc pivot report generator, which can provide you with business information not available out-of-box. You will really like Entrade’s pivot reporting capabilities, too, for drill-down analysis and slicing-n-dicing your way to answers.