Marketing & Business Development ManagerMore
NEW YORK, Nov. 19, 2018 Infor, a global leader in business cloud software for Enterprise and SMB companies, today announced that Novum Energy Trading Corp., a physical oil supply and trading company has successfully deployed Infor SunSystems FMS. The system was implemented by TouchstoneEnergy, a leading Infor partner and global specialist in the energy market, to support Novum Energy's trading activities of refined oil products including gasoline, distillates and other fuel oils.
As a trading company that focuses mainly on niche Caribbean and Latin American markets, Novum Energy Trading needed a risk management platform that could help support their plans for growth, whilst assisting in streamlining their management reporting and financial recordkeeping. Looking to the future, the company also wanted the ability to integrate their front and back office systems to centralize trading and accounting functions.
"Following our inception in 2012, we experienced very rapid growth that led us to think about alternative accounting solutions. We needed a system that could help us better understand the products we were selling and the profitability of our business," said Chris Scott, Chief Financial Officer, Novum Energy Trading Corp. "Throughout this process, TouchstoneEnergy has been an invaluable partner advising us how to get the best from our new accounting system – from selection of Infor SunSystems to the daily operational processes. We are now reaping the benefits of a full and robust system that can support our increased trading and that can help instill confidence in our decision making as we continue to grow."
"Looking back over the last 18 months, we have seen the energy markets largely dominated by global political instability, multiple natural disasters, and tense geopolitical volatility," said Peter Davis, Head of TouchstoneEnergy. "By partnering with Infor, we are working to resolve day-to-day challenges for companies operating within these industries".
Delivering integrated financial management, purchasing, sales, and inventory management, Infor SunSystems is designed to help transform financial information into profitable action, in one unified solution.
"In such turbulent and ever-changing markets, energy and oil and gas companies must ensure they have the proper tools to interpret and react faster to potential problems with proactive alerts," said Jim Perry, director, Infor. "Infor SunSystems can help empower organizations to make better decisions and gain actionable insights with in-context analytics and BI that are designed to complement core management reporting."
Infor develops business cloud software for Enterprise and SMB companies globally. With 17,000 employees and over 68,000 customers in more than 170 countries, Infor software is designed for progress. To learn more, please visit www.infor.com.
TouchstoneEnergy is a global business systems and IT consultancy specializing in the delivery of software solutions, ongoing support and managed services to the energy sector. To learn more, please visit www.touchstoneenergy.co.uk or www.touchstoneenergyusa.com.