Last week our VP of Product development, David Rao, spoke with Gary Vasey of ComTech advisory to Enuit commodity management solution, Entrade Unite.
Below is an extract from Gary's original post on www.ctrmcenter.com
Last week, I had a briefing and update from Mr. David Rao, VP of Product Development at Enuit. The first topic of discussion was Entrade Unite, Enuit’s new commodity management solution, which he sees as helping customers better manage packaged and other commodity supply chains. Unite, he says, focuses on warehouse processes and the entire supply chain, helping manage risks and optimize processes. “It allows a customer to document every event in the supply chain, to drive workflow and processes, and also accounting,” he said. Unite has a document-driven accounting module as well. Enuit is going live with its first Unite user in Q3 this year and is seeing a lot of interest in the product.
Other areas where David and his team are busy include LNG, where they enhance capabilities around regasification, liquefication and voyage optimization, and so on, to better manage LNG operation in conjunction with natural gas operation in the solution. It is also focused on the retail petroleum products side, adding and bolstering rack marketing and other retail functions in that area, he said.
David was also keen to talk about technology, where he says Enuit is also making significant investments. “We are moving in the direction of microservices,” he said. “The new accounting module is delivered in a microservices architecture, for example, and we will proceed incrementally with other parts of the solution.” Enuit is focused on APIs for interfacing/Integration as well. It has also introduced Python script and language to allow users with more IT skills to use it as they wish against the solution. In addition, greater integration with third-party tools like Tableau and PowerBI to enhance data access and reporting is a part of the program. Enuit is also working on upgrading the UI incrementally initially in the front office, deal capture, and operational scheduling areas.
Another area of distinct focus has been risk analytics, David told me. “We have developed a very robust risk analytics capability in the system that we believe is ahead of that available in most CTRM’s. It started with our curve engine, which is now very sophisticated.” Furthermore, Enuit now uses the analytic method for solving price risks as it is much faster than the finite difference method usually used, he told me. “Entrade has succeeded in abstracting commodity price risks and enables the analytic method to be the primary method in pricing formulas and curve formulas. The finite difference method is only applied when an analytic method does not exist for a pricing function.”
Enuit seems to be very busy on a number of fronts in terms of expanding and enhancing the product. Comtech is very interested in how Entrade Unite does in the market as we see a growing opportunity for Commodity Management solutions due to increased emphasis on physical supply chains. We will be following to see how the product does.
The original blog can be found here: https://www.ctrmcenter.com/blog/vendor-news-blog/enuits-david-rao-talks-unite-and-other-initiatives/
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