OpenLink, the global leader in trading and risk management solutions for the energy, commodities, corporate and financial services industries, announced today that Superior Plus Energy Services has selected its energy trading and risk management solution.
Superior Plus Energy Services, a business segment of Superior Plus Corp. (TSX:SPB), chose OpenLink to better manage operational efficiency as its US Refined Fuels business reaches more customers. Superior Plus Energy Services has expanded its propane, heating oil, diesel fuel, gasoline and associated equipment and service business through several recent acquisitions, and today serves more than 200,000 Northeast and Mid-Atlantic US residential and commercial customers.
As Superior Plus Energy Services manages organic and acquisition-driven growth across the eleven states that they serve, the company selected OpenLink’s solution for an integrated approach to physical and financial deal capture with real-time analysis of risk position reporting, logistics, settlement and accounting. Leading US Refined Fuels businesses such as Superior Plus Energy Services are meeting the demands of a competitive market place with technology-driven investments into robust and scalable systems to improve management of purchasing, supply and operating leverage.
“We have a nearly 100-year legacy of dedication to customer service, increasing market share and delivering returns for investors. To maintain those high standards in today’s market, we knew that we needed to invest in best-in-class technology,” said Marc Schoone, Vice President of Supply & Terminals at Superior Plus Energy Services. “OpenLink proved to be the platform to help us keep in stride with competitive consolidation and the critical real-time, integrated analysis we need across geographies, assets and operations of each branch of our business.”
Matt Lehto, Senior Vice President of OpenLink, said that businesses across the energy spectrum are turning to OpenLink for proven front-to-back office solutions that can deliver an overall view of risk in forecasting, sourcing, storage, trading, and accounting. “There is little margin for error in this industry, where consolidation and growth are coupled with increased counterparties, asset classes and volumes of transactions. OpenLink continues to show its value to companies like Superior Plus Energy Services that must be able to handle complex assets, contracts and deals with ease.”