Triple Point Technology, the leading global supplier of cross-industry commodity trading, risk management and logistic software platforms, announced today that Engen Petroleum has selected Commodity Management, the joint SAP and Triple Point commodity and energy trading and operations solution. Engen becomes the third client in
the last two months to choose the SAP-endorsed product consisting of Triple Point’s flagship solution, Commodity SL, and SAP’s ERP suite.
Engen is South Africa’s largest integrated oil company and owns and manages a 150,000 barrel per day crude oil refinery and a state-of-the-art lubricants blending plant in Durban. Engen has a fuels market share of 27% and a network of over 1,250 service stations and over 450 Quickshops in South Africa. It operates in 14 countries and employs 2,500 people across the continent.
“As a SAP customer, the SAP-endorsed Commodity Management solution by Triple Point Technology is truly unique and the only one that makes sense for our business. It has all the functionality we require, moves the integration risk from Engen to the partnership and is the lowest cost alternative,” explains Peter du Plooy, CIO of Engen. “SAP’s endorsed partner strategy is perfect for Engen. We get pre-integrated software that has best-of-breed functionality from both companies.”
Engen is undertaking a significant project to transform existing business processes and controls. Integrated energy trading and risk management is a key part of the drive to automate the business.
“SAP and Triple Point have invested a great deal of time, energy and money in Commodity Management to integrate at a technical, master data and business process level which ensures that when a trade is entered into the system the relevant documents in SAP ERP are created automatically, reducing data errors and reconciliation tasks,” says Tarun Bhattacharya, Triple Point’s vice president, client operations, EMEA. “A growing number of global energy companies are looking at this ground-breaking collaboration between SAP and Triple Point as the only alternative that meets all of their requirements.”
Triple Point is one of only 18 endorsed SAP partners worldwide and is the only partner selected by SAP in the commodity trading and risk management area. SAP and Triple Point have invested more than 30,000 development hours and millions of dollars in the joint system which eliminates the need for custom integration and provides the lowest total cost of ownership (TCO). SAP and Triple Point maintain ownership of the jointly developed interfaces throughout the product life-cycle, eliminating the risk and cost for customers.
“While our Powered by NetWeaver (PBNW) program welcomes all software vendors to participate and get certified, an endorsed partner status is by invitation only and we select a single vendor in each strategic solution area. Triple Point is the one vendor for SAP within the commodity trading and risk management space,” stated Kevin Ichhpurani, vice president, global corporate business development. “We partnered with Triple Point because of its best-of-breed functionality, shared market vision, common technology platform and multi-commodity capabilities. It’s extremely satisfying to see customers realizing tremendous value from the joint solution between SAP and Triple Point.”
Commodity Management from SAP and Triple Point is a co-developed product that utilizes best-of-breed components from each company, Triple Point’s Commodity SL and SAP’s ERP suite, and optimizes profits across the commodities supply chain. It provides a seamlessly integrated front-to-back office solution for commodities supply, trading, marketing and movement. Commodity Management is fully tested and integrated software that delivers a common maintenance program and a common technology platform at the lowest lifecycle cost. It provides greater transparency and control over all aspects of your commodities, enabling you to improve business performance, stay compliant, and increase profitability.
Engen Petroleum Limited is a wholly owned subsidiary of Engen Limited and is the operating company of Engen’s downstream activities in South Africa. Engen Petroleum Limited owns and manages a 150,000 barrel per day crude oil refinery and a state-of-the-art lubricants blending plant in Durban. Engen has a fuels market share of 27% and a network of over 1250 service stations and over 450 Quickshops in South Africa.
Engen Holdings Limited is a wholly owned subsidiary of Engen Limited and is the holding company for operations conducted outside of South Africa. Engen is represented in 13 countries outside South Africa – Namibia, Botswana, Swaziland, Lesotho, Zimbabwe, Zambia, Kenya, Mozambique, Uganda, Tanzania, Burundi, the Democratic Republic of the Congo and Ghana. To find out more visit www.engen.co.za.
About Triple Point Technology, Inc.
Triple Point Technology is the leader in commodity trading, risk management, scheduling and logistics solutions. Triple Point Commodity SL profitably integrates physical and financial markets from the front-to-back office on a real-time, next-generation platform for all commodities, including power, oil, gas, coal, base and precious metals, agricultural products, biofuels and freight. Triple Point’s award-winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies. Founded in 1993 and headquartered in Westport, Connecticut, USA, Triple Point serves clients from five development and support centers located around the globe. More information is available at www.tpt.com.