OpenLink Announces Asset Transaction Management to Streamline Midstream and Downstream Operations
- Trading Systems
- 21.06.2017 11:45 am
OpenLink, the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries, today announced that its newly developed solution, Asset Transaction Management (ATM), is now live at three leading energy clients – including Williams Midstream Partners and SemGroup – and open to the market.
Many asset operations are increasingly spinning off from the marketing or trading arms of the business, and companies are transferring their assets to master limited partnerships or independently operated units for financial benefits. To manage this, asset operators need a system that specializes in managing shipper nominations, allocations and invoices, in addition to a customer service web portal that delivers enhanced value propositions to their customers.
Traditionally, operator processes have been hindered by disparate systems, manual spreadsheets, emails and phone calls. OpenLink developed ATM in direct response to market demands by providing a completely integrated platform that frees up resources to focus on higher value activity.
“With new pipelines and terminals coming online and ever-increasing competition, it’s more important than ever for asset operators to ensure their nomination processes, allocations and transactions are accurate and fast and that they are providing the online services their customers desire,” said Rich Grossi, CTO at OpenLink.
Joyce Johnson, Distribution and Scheduling at Williams Midstream Energy, said, “ATM has given our customers specific information on a real-time basis. It has provided data that they previously had to request via reports or from one of our commercial representatives. The automated workflow has streamlined Williams’ back-office processes. Employees are more productive and have better information to make decisions.”
Organizations quickly see the benefit of operational efficiency that ATM provides. Charles Smith, Senior Business Analyst at SemGroup, explained, “ATM simplified the process for us to collect and report shipper nominations. Our business is more streamlined with a single source for all nominations, allowing us to capture all pipeline tariffs and fees in a single system.”
ATM serves all companies that operate pipelines, terminals, blending facilities, fractionation facilities and other types of assets and charge fees for services rendered. The platform functions via a unique web portal that caters to the needs of both asset operators and their customers within a singular, intuitive system. It centralizes the collection of data and provides timely and accurate inventory reporting for midstream and downstream operators while providing their customers with superior service along the transaction lifecycle.
“Automation is key to the technology behind ATM,” Grossi said. “We worked closely with our clients to build an industry-leading solution that allows asset owners to improve the efficiency of product distribution and deliver outstanding customer service.”