HOUSTON, Nov. 12, 2004 — SoftSmiths, Inc. unveiled the energy industry’s first comprehensive Energy Transaction Integration Manager (ETIMà¢â€ž-), featuring SoftSmiths’ Transaction Management suite and web-services based Integration Platform. SoftSmiths’ ETIMà¢â€ž- solution enables companies operating in the wholesale power and gas markets to build and implement a flexible, real-time, and efficient enterprise-wide Transaction Management Infrastructure (TMI) with all the key applications in the transaction chain. By using ETIM, companies achieve data consistency and integrity, lower total cost of ownership, and cross-application visibility for intelligent decision-making and timely reporting.
Facing a competitive and constantly changing energy market, companies must work more effectively to improve financial, physical, and transmission operations in their power and gas businesses. New and constantly changing regulations and compliance rules mandate intelligent solutions that support flexible decision making processes. With ETIM’s component and web-services based architecture, SoftSmiths anticipates this need. ETIM enables companies to integrate their business processes and deliver needed information to decision-makers, while eliminating the aggregation of essential information in isolated silos. This approach allows companies to strengthen their energy transaction chain, elevating disparate systems to become strategic business applications in their overall energy trading, production and retail business.
Built on a service-oriented architecture (SOA), and based on open, industry standards and technology, ETIMà¢â€ž- combines SoftSmiths’ next-generation Transaction Management suite with intelligent integration applications. Companies leverage ETIM to achieve operational excellence, establishing a fully integrated transaction platform by seamlessly connecting the energy transaction chain across all business units, including financial systems, risk management, plant operational systems, as well as external entities such as RTO/ISOs, exchanges and trading hubs.
“A fully integrated Transaction Management Infrastructure is the heart of a successful energy producing, trading and delivering enterprise”, said Nathan Sheik CEO. SoftSmiths recognizes the pain caused by the ineffective integration and isolated business processes existing in many energy companies that are now facing new markets, agile competition, and tougher regulatory requirements. ETIMà¢â€ž- delivers the industry’s first solution to address efficiency, flexibility, information consistency, real-time visibility, and security with a truly enabling transaction integration platform.”
SoftSmiths’ suite of distinct Transaction Management Systems includes:
* SoftSmiths Power
* SoftSmiths Gas
* SoftSmiths Markets
* SoftSmiths Transmission
* SoftSmiths Electronic Tagging
* SoftSmiths Market Portal
With SoftSmiths’ ETIMà¢â€ž-, organizations will provide their employees with integrated tools to improve productivity and start managing information as a real corporate asset, and at lower cost.
About SoftSmiths [ www.softsmiths.com ]
SoftSmiths is a leading provider of proven business critical Transaction Management Systems and services for Load Serving Entities, Generation Production Entities, Purchasing Selling Entities, and Transmission Providers who operate in physical markets to sell, purchase, trade, and deliver energy in the most efficient and cost- effective way. SoftSmiths’ seamlessly integrated, scalable, and adaptable solutions provide ready-to-deploy, out-of-the-box functionality that is highly configurable and customizable to meet companies’ unique needs.
SoftSmiths’ proven solutions and in-depth knowledge of the industry’s business practices allow its customers to automate manual processes, eliminate redundancies, and increase business visibility across the enterprise to allow faster decision making and more informed decisions, thereby improving profitability, operational efficiencies and cash flow. The company has been successfully delivering energy business solutions to energy service companies since 1997.