DALLAS--(BUSINESS WIRE)--Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today the expansion of its industry leading solutions to large consumers of energy.
With recent customer acquisition and success within the industrial, ethanol and aviation industries, Allegro is officially expanding its products and sales efforts to companies who consume large volumes of energy. Allegro’s newest and most innovative software platform, Allegro 8, offers the functionality necessary to effectively manage fuel procurement and cut costs associated with market volatility driving bottom line results for large consumers of energy.
According to a recent report published by Ernst & Young, 70% of chief supply chain officers believe their organization needs to improve existing processes and capabilities to improve their energy supplier risk management.1
“The need for technology in energy procurement and risk management is evident with increasing market volatility, regulatory mandates and rising fuel costs,” said Ray Hood, Allegro Chief Executive Officer. “Large energy consumers who recognize this need and invest in technology to mitigate these risks will gain a competitive edge in the market. We believe Allegro is a natural fit for these types of organizations, we have proven solutions used by some of the world’s largest energy consumers.”
Leveraging Allegro, large consumers of energy can:
- Implement and manage energy commodity supply, trading and hedge accounting activities with the ability to assess and quantify risk through advanced analytics;
- Eliminate manual processes, dual data entry and the associated overhead;
- Track and manage physical and financial transactions, and logistics in one, integrated platform with connectivity to market price feeds, giving managers a holistic view of the business; and
- Stay current with regulatory mandates in efforts to avoid fines and audits including Sarbanes-Oxley 404, ASC-815/820, IAS-39/IFRS, REMIT/EMIR and Dodd-Frank.
About Allegro
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. www.allegrodev.com.
1 The Evolving World of Supplier Risk, © 2012 Ernst & Young LLP.
