| | JULY 20186Energy companies today face changing market and regulatory environments that place extraordinary demands on Energy Trading and Risk Management (ETRM) software systems. The cloud has provided some relief. The energy industry is using the ETRM systems on the cloud to help them tackle multiple challenges such as reducing risk coverage and speeding up the trading activities. While the benefits and cost savings associated with ETRM in the cloud are robust, uptake across the industry has been quite slow, and that needs to change. The usual suspect as quoted by the industry is "data security" despite companies often having back-up and recovery procedures in place. ETRM in the cloud is the evolution from "traditional" on-premises software, given its lower total cost of ownership and cheaper maintenance and upgrades. Firms can also start giving their ETRM solutions a central role, in areas such as determining strategies, optimizing assets, fulfilling their accounting requirements, and providing universal data stores. With ETRM solutions on the cloud, companies can take care of a range of physical commodities that require access to multiple data sources covering aspects such as pricing, processing costs and efficiency, warehouse space, shipping fees, and losses during transit. With all this benefits at stake, urgency must be shown by stakeholders to upgrade or replace their current ETRM, as ETRM in the cloud is the way forward.In this edition of Energy CIO Insights, we present to you a list of companies that are transforming the energy trading and risk management landscape with next-generation technologies. We hope this edition will assist you in choosing the best-in-class solution for your enterprise.Please share your thoughts with us. Move Forward the Smart Way Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof. E ERGYTech Review JULY - 2018, Vol 01 - Issue 02 Published by ValleyMedia, Inc. To subscribe to Energy Tech ReviewVisit www.energytechreview.com SalesRich Gonsalvesrich@energytechreview.comVisualizersScott JuasyManaging EditorCharlotte SmithE ERGYTech Review*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaVian IsaacJoshua Parker Kenny PeruzziEDITOR'S DESKCharlotte SmithManaging Editoreditor@energytechreview.com
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