Global Japanese Mineral Resources and Metals Trading Business is Fully Operational with ENTRADE®
Singapore, Nov 20, 2019 -- Enuit LLC, a leading provider of Energy and Commodity Trading Risk Management (E/CTRM) Solutions, today announced that a global Japanese mineral resources and metals trading business, its global headquarters located in Singapore, is now using the ENTRADE® CTRM solution operationally for its Iron Ore and Coal business units. Client intends to initiate two additional projects, sequentially, to implement client’s aluminum/copper and precious metals trading business units within ENTRADE®.
The next project will focus on Aluminum and Copper business offices, London, Singapore and Japan, and will utilize ENTRADE’s® warehouse management capabilities. Both commodities will be implemented in one ENTRADE® environment, and will send journal entries to multiple SAP environments. Phase three will focus on Precious metals, supporting business offices in the United Kingdom, United States and Singapore.
Marcus Seow, Senior Business Consultant with Enuit, said, “The decision to divide the project into three phases with smaller-scale implementations ensures that there is less project risk for our client. Each project team is able to focus better on each commodity’s specific project requirements whilst impacting on-going business operations minimally. Additionally, this approach provides an opportunity for gradual growth in project management competency within the client.”
Client has implemented software to enable scaling and growth in its trading activities while, at the same time, minimizing growth in business costs. Client recognized that its technology infrastructure, based on spreadsheet technology, inhibited its ability to scale its business according to its goals and objectives. ENTRADE® enables sharing of data throughout Client’s organization and automates many manual calculations. One other successfully completed project objective was the automation of Client’s SAP interface. ENTRADE® now generates journal entries, which are sent directly to SAP. And, SAP sends back cleared payment data to reduce credit exposure.
Enuit was selected as client’s technology partner of choice because of ENTRADE’s® comprehensive functional coverage. ENTRADE® manages the entire deal life cycle from end-to-end for both physical and financial transactions, records associated logistical charges and fees, provides needed risk management tools, and generates journal entries for ERP systems, like SAP.
Dave Meyers, President of Enuit, said, “We are delighted by the success of this product implementation, which resulted in developing a strong relationship with this client. As we move forward with the next projects, we will continue to incorporate new functionality to the ENTRADE’s® core set of capabilities, the upside of which is that Enuit’s current and future clients will share in the benefits of an ever-improving product.”
Mark Tredway, Enuit LLC