Kinetrex Energy chooses Allegro technology to manage natgas transactions
DALLAS — Allegro Development Corp., a provider of commodity trading and risk management software, announced that its platform has been chosen by Kinetrex Energy, an Indianapolis-based natural gas producer and seller, to manage its natural gas transactions and enable the ongoing expansion of its business.
Kinetrex, which supplies customers with natural gas from pipelines, along with providing liquefied natural gas and renewable natural gas, previously had been using spreadsheets for many of its requirements. However, it had become clear that a comprehensive and dedicated solution would be needed to fully capture and record the complex deals in which the company was involved. Because Kinetrex was taking part in a larger number of transactions, with an ever-growing list of counterparties, the leadership team realized they couldn't continue relying on their spreadsheet-based approach if they were to maintain accuracy and transparency.
As a result, Kinetrex turned to Allegro. Already in place at many Kinetrex key counterparties, Allegro software now manages many of the company's deal-capture needs, while simplifying its middle and back office functions, including aiding in risk management, settlement and invoicing.
Kinetrex was able to go live in just eight weeks.
"We looked for an all-inclusive system, so we were trying to find one where we could do the billing, risk management, deal-capture and accounting all in one package,” said Stephen Miner, Gas Supply Portfolio Manager, Kinetrex Energy. “We liked the fact that, with Allegro, we could start with a few modules and quickly get up and effective. Then, as we get bigger and more complex, we could add in other functions as we grow."
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