|By Business Wire||
|June 16, 2014 10:08 AM EDT||
Allegro Development Corporation, a leading provider of commodity value chain and risk management (CVCRM) software, and Adapt2 Solutions, the leading provider of ISO interaction management solutions, announced today a joint sales, marketing and product alliance.
Merchant power generators, utilities, cooperatives, and retailers doing business in deregulated North American electricity markets are required to interact with Independent System Operators (“ISOs”). “Interactions with ISOs are complex,” said Mark Hill, Vice President of Sales, Allegro. “There are bids and offers to be submitted for each successive business day for the day ahead market, real time trading for the day at hand, and settlement which ultimately determines whether the participant reports a profit or loss.
“Allegro has long considered the addition of ISO interaction management capabilities to its suite of energy trading and risk management (ETRM) applications. The added insights into cost of goods sold, market positions and risks are a strong compliment to Allegro’s core value proposition to our customers,” said Hill.
Allegro evaluated a range of ISO interaction management offerings in the marketplace. “Our longevity in the business has afforded us the opportunity to assess the capabilities of every ISO bid/offer and settlement product in the space, as well as the required implementation and support effort, and total costs. Most importantly, we’ve assessed the strategies and trajectory of each of the respective companies behind the products. It’s not only about where these products and companies are today but also where they are going,” Hill said. Based on a careful assessment spanning multiple years, Allegro made the decision to partner strategically with Adapt2 Solutions and effective immediately, will serve as an extension of the Adapt2 sales and marketing channel. The two companies are also jointly designing and developing a new product called ISO Connect that will integrate Allegro’s core system and Adapt2’s ISO interaction management system.
Prior to the formation of the partnership, the companies already shared a substantial number of customers and hope to soon welcome two new logos to their growing customer base. “What we’re seeing from the major wholesale players is a weariness with the cumbersome complexity and high cost of first generation ISO systems. And we’re hearing continuously from utilities and retailers about compressing margins. This combined offering perfectly addresses the needs of both – providing a sophisticated, elegant next generation design, dramatically lower cost and better performance; most importantly the daily insight into gross margin that equips participants to not only survive but thrive,” said Hill. “We have been pleased at the traction the combined offering has gotten in the marketplace.” Hill continued, “We consider the robust pipeline a resounding endorsement of the joint offering.”
“Integrating with our customers’ existing systems is required in every deployment,” explained Adapt2 Solutions Founder and CEO, Francisco Diaz. “Typically this means a trading and risk system. At this point, we’ve had the chance to collaborate with multiple vendors in the space. We experienced the perfect marriage with Allegro, we’re both built on a .Net frameworks, our software is intuitive, and most importantly we share a passionate commitment to the success of our customers.”
About Adapt2 Solutions Inc.
Founded in 2008, Adapt2’s goal is to help clients achieve results by providing quality enterprise level software solutions. Adapt2 is the developer of Adapt2 ISO, the best in class ISO/RTO software solution serving all major North American markets in a single application. Adapt2 ISO employs the latest available technology for the betterment of its current user community. The solution is implemented at Power Marketers, Generators, Industrials, and Load Serving Entities across North America. Adapt2 ISO provides a feature rich and clean solution for clients to manage complete front to back ISO/RTO operations. Adapt2 is headquartered in Houston, Texas, with a service office in Chicago, Illinois.
About Allegro Development
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners.
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