For Immediate Release
November 22, 2018
Mitsui Energy Trading Singapore Now Using Enuit’s ETRM Solution: Entrade
Singapore — November 22, 2018 — Mitsui Energy Trading Singapore (METS) announces it has successfully completed its implementation of ENTRADE, which is software developed and marketed by Enuit, LLC to manage its Energy Trading and Risk Management activities. The project started in March of this year, and required only eight months of effort by a combined METS-Enuit team to implement.
“We are fortunate to have selected the best ETRM system after extensively reviewing what the market had to offer,” Said Mr. Kobayashi, General Manager at METS. “We selected a product which completely integrates with SAP’s Journal Entries, and does so automatically, which was key to the success of Entrade in our operations.”
Summary of Implementation
Enuit’s Energy Trading and Risk Management (or ETRM) solution, called ENTRADE , provided important and useful features required by METS’s business operations. Most noteworthy is ENTRADE’s SAP interface and its workflow processes implemented for Trade and Invoice approval processes.
Generating prior period adjustments for inventory was another ENTRADE feature vital to METS’ operations. The project established a vital partnership between the two companies “Enuit has a quality team of people,” says Mr. Tanaka, CEO of METS, “Over the last year, our companies have built a trusted relationship. That relationship allowed for quality prompt support. On top of the high quality of support that they provided, their system has greatly improved our business efficiency.”
Ken Han, Co-Founder and CEO of Enuit, on Sunday said, “Enuit’s mission is ‘To provide value to our customers through innovative software, trusted partnerships and the quality of our people’ We were able to express each of these values during implementation with METS, especially that of partnership. The leadership at METS is superb. Their support and trust was key to our success.”
METS’s software implementation was finished on time and on budget. After beginning every day use of Entrade in November. Enuit finalized implementation toward the end of 2018.
Mitsui, a Japanese company founded in Tokyo, Japan, reextended its operations to Singapore in 2007. Mitsui & Co. (Asia Pacific) Pte. Ltd. operates in 9 business areas including: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Mobility, Chemicals, Energy, Food & Retail, Consumer Service and Innovation & Corporate Development. METS, or Mitsui Energy Trading Singapore, is a division of Mitsui, with its primary offices in Singapore. Mitsui & Co., Ltd. is one of the largest trading and investment companies in the world today with over 42,000 staff (consolidated).
Enuit, LLC is a software development company specializing in software solutions for commodity trading enterprises. Enuit’s primary office resides in Houston, Texas, USA, with other its other offices located in Beijing, China, Singapore, and London to serve markets in China, Asia-Pacific, Middle East, Europe, and North America.
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