OpenLink, the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries, announced today that Pennsylvania-based Guttman Energy, Inc. has selected its energy trading and risk management (ETRM) system to support the growth of its fuel distribution services.
Guttman Energy operates in 16 states east of the Mississippi and distributes more than 1.5 billion gallons of petroleum products each year. It will utilize the full functionality of OpenLink’s ETRM solution to manage both its wholesale over-the-rack business, as well as its rapidly growing delivered business, supporting front- to back-office workflow from physical and financial deal capture to risk position reporting, logistics and settlement on a single, unified platform. The solution will integrate with TMW’s fleet management system and Microsoft Dynamics GP for seamless and integrated financial accounting.
The combined solution will provide inventory visibility, terminal-to-tank optimization and automated ticketing and invoicing, giving the business an aggregated, real-time volumetric and financial view of positions and risk.
“One key element of Guttman’s success has been collaborating with the right partners to help us grow our business. OpenLink will provide us with the transparency into our results and positions that we need in order to continue to make smart decisions regarding how to allocate capital among our lines of business. It will also automate many of the processes from order inception to invoicing, allowing us to achieve significant efficiencies within our business,” said Scott Cargile, President and COO of Guttman Energy, Inc.
Matt Lehto, OpenLink Senior Vice President, said: “Guttman Energy’s needs mirror the energy industry’s challenge of providing more value among thinning operating margins and market volatility. The solution we developed highlights the critical value of access to inventory information and real-time decision-making that is only possible with a modern, physical-to-financial operational view. We are delighted to welcome Guttman to our global client base.”
Founded in 1992, OpenLink is the global leader in Transaction Lifecycle Management (TLM) software for the commodity, energy, corporate and financial services industries. OpenLink's products address treasury, portfolio management, trading, risk management, and operations processing for both financial and physical assets. OpenLink has consistently received numerous industry awards and recognition, including citations as the industry leader in Commodity/Energy Trading and Risk Management (C/ETRM) systems, and first-in-class ranking by Energy Risk magazine, with analyst firms Chartis and Gartner citing OpenLink as a leader in financial platforms.
The company serves over 600 clients, including 12 of the world's largest commodity and energy companies, 9 of the largest financial institutions, and 13 of the largest central banks. OpenLink has 1,200 employees in 14 global offices on five continents, with headquarters outside New York City and field offices in Houston, Manhattan, London, Berlin, Vienna, Toronto, Tulsa, São Paulo, Mexico City, Bangalore, Singapore, Dubai and Sydney.
Guttman Energy, a family-owned business with headquarters in western Pennsylvania, has been satisfying customers’ fuel-related needs for 85 years. As a sophisticated and comprehensive distributor of fuels, Guttman Energy leverages supply and risk management expertise to help customers navigate price and supply volatility, giving them greater certainty and control. Guttman Energy serves the commercial, wholesale and retail markets, providing gasoline, distillates and innovative programs that include risk management, fuel operability and inventory management.