Recognized for Excellence in Energy Trading and Risk Management Solutions
Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that it has been named “Software House of the Year – Asia” by Energy Risk magazine. This prestigious award is a result of Triple Point’s unique ability to deliver next-generation energy trading and risk management (ETRM) solutions that can be rapidly configured to meet the needs of Asia Pacific (APAC) energy companies.
Triple Point’s revenue grew 75% year-over-year for the APAC region with 22 leading energy companies licensing its ETRM solutions including China National Offshore Oil Company (CNOOC) Limited, China’s third largest national oil company. Other notable customers in the APAC region include SK Energy (Korea), HPCL-Mittal Energy Limited (India), Marubeni (Japan), Petredec (Singapore), and BHP Billiton (Australia).
“Energy companies operating in APAC are increasingly turning to Triple Point because they require a rapidly-deployable, integrated, end-to-end solution to meet increased energy market complexity,” said Michael Schwartz, senior vice president, chief marketing officer, Triple Point. “This award validates what the world’s largest energy companies already know firsthand – that Triple Point delivers the most advanced and comprehensive ETRM solution, hands down.”
Triple Point’s flagship ETRM platform, Commodity XL™, delivers unparalleled functionality for managing multiple commodities and addressing the APAC energy market’s top challenges including price volatility, regulatory compliance, and enterprise risk management. Furthermore, Commodity XL’s advanced architecture enables it to be configured rapidly and efficiently to meet Asian market requirements, while other solutions typically require extensive customization.
The “Software House of the Year – Asia” award follows on the heels of analyst firm Gartner, Inc. naming Triple Point a Leader in its Magic Quadrant for ETRM Platforms for the fourth consecutive year. In addition, Triple Point was ranked the #1 Credit Risk Software Vendor in Energy Risk's 2012 annual software survey, which is the largest industry survey to poll users of energy risk management and trading software.