Enterprise platform chosen to support business complexity and rapid growth
Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that CIMA ENERGY, LTD. (CIMA) has selected Commodity XL™ to manage natural gas marketing, scheduling, and credit risk management. Commodity XL will also support expansion into other energy commodities, including biofuels.
Based in Houston, CIMA is a full-service oil and gas marketing and logistics company providing a competitive range of supply, asset management, and risk protection services for local distribution companies, power plants, industrial customers, municipalities, and producers nationwide.
CIMA was seeking an integrated and robust commodity trading and risk platform to support the anticipated growth of its gas producer and marketing operations. The company wanted to efficiently manage growing transaction volumes and increase transparency between its seven office locations, including a new office in Canada. CIMA also desired to automate its gas scheduling operations to leverage real-time data in volatile natural gas and commodity markets.
Commodity XL provides CIMA with a sophisticated, real-time platform to automate and streamline its marketing services including deal capture, risk management, and reporting. Gas Scheduling ‘Visual Cockpit’™ supplies CIMA with critical information to perform complex scheduling — including balance, capacity, and transportation cost — all in real time and displayed on a single screen. Commodity XL for Credit Risk™ enables the company to more efficiently handle credit risk with automated systems to manage contracts, counterparties, credit monitoring, reporting, and multiple credit limits.
“We required an enterprise solution that could efficiently manage our natural gas marketing activities today, while providing the flexibility to expand into other energy commodities in the future,” said Mike Rupe, CFO, CIMA. “After a thorough market search, Commodity XL proved to be the best solution to support CIMA’s business goals.”
"Triple Point has always provided the broadest multi-commodity solution and a scalable platform to meet evolving customer requirements," said Mike Ravo, VP, industry solutions, Triple Point. "We are pleased to partner with CIMA and look forward to contributing to the success of their rapidly expanding operations."
CIMA joins Triple Point’s premier portfolio of gas customers including Anadarko Petroleum, ConocoPhillips, Suncor Energy, Glencore, Duke Energy, WINGAS, Bunge Global Markets, The Energy Authority, Sumitomo, Peabody Energy, and Hess Corporation.
The energy company licensed Triple Point’s enterprise solution suite including Commodity XL™ for Gas, Agriculture, Biofuels, Credit Risk, and Credit Scoring. The energy company also purchased Commodity XL Xchange™ and Gas Scheduling ‘Visual Cockpit’™.
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