THE ENERGY SETTLEMENT NETWORK®
An enterprise-grade settlement network powered by digital technology.
Solving energy industry settlement challenges
Every month settlement teams are challenged to meet critical payment deadlines by reliance on paper-based information exchange and a complex manual reconciliation process.
It’s time for a change.
Aquilon has worked with the energy industry to create a better way: The Energy Settlement Network®. ESN® is an innovative, award-winning platform that brings digitalization and automation to back office energy trading operations.
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Get insights about the future of energy settlement and news about the Energy Settlement Network.
CIMA® ENERGY joins Aquilon’s Energy Settlement Network®
CIMA chose ESN® to provide automation tools for their settlement teams as well as strengthen their cyber security
Exploring the Future of Energy Settlement
It’s time for settlement teams to leverage the power of digital settlement. […]
Now settle Crude Oil on the Energy Settlement Network®
Support for NGL and Refined Products will be added later in 2019, further positioning ESN as the industry standard for energy settlement.
A single platform for settling energy transactions with all your counterparties
On ESN settlement teams communicate and match with counterparties daily and share supporting documents until payment is approved. The driver behind ESN’s rapid growth is the strategic value it delivers by resolving wholesale energy settlement challenges.
The platform provides energy companies and trading entities with digital tools to:
AUTOMATE SETTLEMENT ACTIVITIES
The exception-driven process provides early warning on transactions where an action is needed. ESN automatically advances transactions without discrepancies.
STRENGTHEN INVOICE CYBERSECURITY
All transactions, documents, communications, and invoices are delivered and stored on an encrypted platform. Access is restricted to authorized users. Fraud detection is improved.
INCREASE INVOICE VISIBILITY
Real-time visibility of the status of all invoices in a settlement. Provide daily cash flow forecast to Treasury. Generate insight on cash flow across multiple commodities.
SIMPLIFY AUDIT AND COMPLIANCE
An audit trail of all activity is automatically created. Automated creation of digital settlement packages. Rapidly produce audit and compliance reports.
INCREASE COUNTERPARTY COLLABORATION
Reconcile with counterparties daily until payment is approved. Receive real-time notification of counterparty activity. Bulk send reminders to counterparties where a response is needed.
IMPROVE SETTLEMENT PROCESSES
All your settlement data and invoices organized in one place. Accurately identify future cash flow breaks. Consistent workflow and standardized data format with all counterparties.
A digital settlement department settles faster and supports growth without increasing back-office costs
The platform provides energy companies and trading entities with digital tools to:
AUTOMATE SETTLEMENT ACTIVITIES
The exception-driven process provides early warning on transactions where an action is needed. Automatically advances transactions without discrepancies.
STRENGTHEN INVOICE CYBERSECURITY
All transactions, documents, communications, and invoices are delivered and stored on an encrypted platform. Access is restricted to authorized users. Fraud detection is improved.
INCREASE INVOICE VISIBILITY
Real-time visibility of the status of all invoices in a settlement. Provide daily cash flow forecast to Treasury. Generate insight on cash flow across multiple commodities.
SIMPLIFY AUDIT AND COMPLIANCE
Real-time visibility of the status of all invoices in a settlement. Provide daily cash flow forecast to Treasury. Generate insight on cash flow across multiple commodities.
INCREASE COUNTERPARTY COLLABORATION
Real-time visibility of the status of all invoices in a settlement. Provide daily cash flow forecast to Treasury. Generate insight on cash flow across multiple commodities.
IMPROVE SETTLEMENT PROCESSES
All your settlement data and invoices organized in one place. Accurately identify future cash flow breaks. Consistent workflow and standardized data format with all counterparties.
The proven industry standard for wholesale energy settlements processing.
The proven industry standard for wholesale energy settlements processing.
ESN is the first solution to apply digitalization and automation to address pressing wholesale energy settlement challenges. The solution brings efficiencies, collaboration and risk reduction to our settlement process.
ESN provides tremendous value to the daily activity of our settlement team by automating the settlement process. With ESN, our settlement team can collaborate more easily with our counterparties, manage our settlement information in a single location, and has real-time visibility to the status of each invoice in the settlement process.
With the Energy Settlement Network, Aquilon has increased automation in the settlement process. As members of the network, we can now access all the data and information we need in one place.
We are transforming our energy settlement operations with ESN. We had the majority of our trading counterparties join the platform within 45 days. By allowing us to interact with all of our counterparties in one place, ESN is helping us be more effective, managing an ever-increasing amount of transactions and meeting deadlines with greater efficiency.
Managing energy settlement data is becoming more challenging, and ESN enables commodity operations professionals to significantly improve how they work.