An adaptable CTRM solution for refinery operations
From securing feedstock, to blending ready-to-use end products, to the logistics of working with thousands of trucks or railcars for transportation, the process of refining petroleum is exceedingly complex. Managing the refinery inputs, ensuring accurate valuation and completing timely regulatory reports is a key part of the overall challenge.
The Hidden Risk of Spreadsheets
Are spreadsheets best for risk management? Perhaps not always. A report from Allegro,
"The Hidden Risk of Spreadsheets," explains how CTRM software could be right for your business.
The Benefits of Allegro
Petroleum Refining Trading
With Allegro, benefits for oil traders include:
- – The ability to set up multiple trading templates, which can be tailored to a specific trading profile
- – Accurate calculations of position and P&L for each trading day
- – View of metrics by book, trader and any aggregation thereof
- – Opportunity to expand volume and revenue
- – Trade strategy analysis with market data
- – Integration with exchanges and exchange trading
Petroleum Refining Risk Management
Allegro mitigates the risk of human error, including mistakes that place the wrong information into the system. Benefits of Allegro’s software for oil refining include:
- – Tracking and valuation of all commodities and their costs
- – Automated data collection and entry
- – Greater insight and position visibility
- – Physical, financial and inventory valuations for the entire deal life cycle
Petroleum Refining Logistics and Operations
Managing feedstock and maximizing purchasing decisions is one of the key benefits of Allegro. Other benefits of our software include:
- – Ability to handle multiple modes of transportation, including truck and rail
- – Accurately tracking deliveries and inventories at multiple locations
- – Monitoring the fuel levels available in tanks
- – Automation of labor-intensive tasks associated with handling logistical movements
- – Advanced decision-support tools
- – Ability to import truck ticket data from T4 into the system
Petroleum Refining Accounting and Compliance
For compliance and accounting teams involved in refining, Allegro’s software has a number of benefits, including:
- – Enhanced, comprehensive controls
- – Reduced risk of regulatory compliance errors
- – Automated settlement processes
Built for Petroleum Refining
Crude oil refining processes are typically highly automated to ensure efficiency. But what about managing the processes around feedstock procurement and delivery, and doing so in a way that reduces costs and maximizes performance? That's where Allegro comes in. Because refineries perform best when they're operating near full capacity, it only makes sense to have a software solution that's up to the task. Allegro is made for this.
Additionally, Allegro comes with the flexibility to be deployed on-site or run from the cloud, and it can be extended as needed without customers having to wait for a formal upgrade cycle. That's a powerful advantage that enables refineries to quickly respond to change.
Further, Allegro is made to work across the entire enterprise. That means front, middle and back office employees can count on having a comprehensive commodity risk management software system that will enable them to function better within their own groups and with other stakeholders around the organization. If you're not working with Allegro already, let's have a discussion today.
"We are satisfied with Allegro's highly flexible, integrated and technically efficient solution and recognize its high potential for further development. It has enabled us to optimize existing business processes – and introduce new ones – within the commodity trading and financial risk management area. Allegro’s solution provides us with a strong foundation to grow our expertise in different commodity classes and to deepen our system's functional coverage with the scalability required for future growth."
"In today’s business environment, risk management is crucial for providing decision support, managing compliance and the overall business. With Allegro, we selected a modern commodities management system that provides the visibility, necessary functionality and adaptability to move into the future with confidence."
"We needed a centralized ETRM system to manage our energy trading business, and we selected the Allegro platform because we found it innovative, sophisticated and adaptable to our trading and risk management needs. We strongly believe that Allegro's technology will help us achieve better portfolio, trade life cycle and risk management, which are ultimately our business goals."