While revolutionizing energy settlement is rewarding enough, it is nice to get some outside recognition, as well.
Settlement departments across the energy industry work tirelessly to settle billions of dollars of wholesale energy transactions. But their already challenging jobs are only made more difficult by outdated processes and tools. Analysts use emails, spreadsheets and phone calls to complete transactions, which hinders efficiency and increases financial risks.
We created the Energy Settlement Network in collaboration with the energy indutry to give settlement teams a modern tool. ESN® is a global, cloud-based platform that energy companies and financial institutions use to automate energy settlement processes. A comprehensive and collaborative platform, ESN helps companies reduce operational costs and improve efficiency, compliance and financial controls, as well as cash-flow and risk management.
As we continue to welcome major energy market participants and their counterparties onto the platform and help them transform their settlement processes, we know we are succeeding in revolutionizing energy settlement. But it didn’t hurt to receive some outside recognition as well. This year, we were named the Innovation of the Year by Energy Risk magazine.
It was a great honor for the company and a meaningful recognition of ESN’s current – and future – value to the industry.