SoftSmiths helps energy market participants price, forecast, sell, purchase, trade, manage risk, schedule and settle energy using highly comprehensive, configurable, modular, scalable, integrated and easy-to-use systems delivered as Software-as-a-Service (SaaS) in a secure cloud environment. Our applications are used by Energy Suppliers, Load Serving Entities, Generators, Marketers, Utilities, Municipals, Coops, LDCs, Producers, Large Industrials, and Major Retailers. Our solutions and services automate the manual processes of our customers, eliminate redundant data entry, reduce settlement cycles, increase business visibility across the enterprise and help reduce risk allowing users to make faster and more informed decisions that improve profitability, operational efficiency and cash flow.
What does SoftSmiths do?
How does SoftSmiths do this?
SoftSmiths has an in-depth understanding of industry business practices and a track record of solving complex challenges brought on by the changing energy industry. This understanding, combined with our intellectual property and customer service, allow us to deliver integrated software solutions designed to give our customers an edge in the competitive marketplace. We then take it one step further with our ongoing commitment to research and development and our rigorous standards for quality assurance and customer service, which include a Customer Engagement Method that recognizes the use of the technology as being as important as the technology itself. SoftSmiths has been deploying proven solutions that fit our customers’ needs like a glove since its inception.
Is a transaction management system really crucial?
The applications we provide are a “must-have” because they are focused on the backbone of our customers’ business. Our applications are designed to integrate seamlessly into a customer’s operational environment to handle workflow from pricing, load forecasting, multi-commodity deal capture, risk management, and scheduling all the way through settlement/reconciliation, to support single-entry and straight-through transaction processing. Our customers demand comprehensive, configurable, scalable and adaptable applications to compete successfully in a competitive market. SoftSmiths solutions are critical in that they enforce and support business processes, thereby improving information flow, communication, visibility, efficiencies, reliability and profitability.
What makes SoftSmiths different from other transaction and risk management companies?
A New Solution for a New Era – The SoftSmiths solution was developed from the ground up using industry standards for reliability, performance, adaptability, openness and portability. We strive to make our technology conform to your business, not vice versa, and we support changing business practices through an unmatched level of adaptability, flexibility and scalability.
Ease of Use – The interfaces and features of SoftSmiths’ applications address business users’ everyday needs and are laid out logically and intuitively. SoftSmiths is not a rigid, one-size-fits-all solution and instead allows users to slice and dice information to be presented in a way that makes sense for their operational needs, with a clean and elegant user interface.
Flexibility, Adaptability & Scalability – SoftSmiths’ solutions evolve with the marketplace to solve real, ongoing challenges for customers. We take the time to understand the role of each business unit and configure and deploy the applications to support our customers’ business in matter of days.
Industry Knowledge – Few companies can boast energy expertise similar to what the SoftSmiths team can offer. As thought leaders in the transaction management sector, SoftSmiths has a thorough understanding of the industry standards and regulations that impact its customers and can work with them to turn challenges into opportunities to gain a competitive edge over their competition.
Service & Support – Our approach to technology and customer service is based on our commitment to developing true partnerships with our customers. SoftSmiths Software-as-Service is deployed in a secure cloud and requires no hardware, no software and includes training, technical support, market changes, and defect fixes without any additional cost — in short we truly offer completely headache-free SaaS based applications for energy market participants!
What products does SoftSmiths offer?
Please take a look at our product offerings page for details. We offer distinct applications that focus on different market participants as we cover the entire transaction lifecycle for energy market participants.
We are a big supporter of cooperative computing – we are happy to deploy only the application modules that address the customer’s current needs.
How does SoftSmiths impact its customers?
Increased Operational Efficiency and Reliability – SoftSmiths’ solutions improve visibility into resources and obligations in near-real time as the volume and complexity of transactions increase. The resulting reliability, reduced cost and minimization of errors enhance the ability of SoftSmiths’ customers to plan, forecast and execute on reliable and timely information – turning risk into opportunity.
Reduced Settlement Cycles – The accurate and timely back-office information provided by SoftSmiths helps customers limit the number of disputes in their settlement process. This, combined with an enhanced capability to monitor the market and contractual requirements, automatically results in increased speed to booked revenues and improved cash flow.
Reduced Complexity – SoftSmiths delivers an increased efficiency of processes throughout the enterprise and near-real-time knowledge of positions that results in reduced costs and increased asset optimization of resources. The automation of processes eliminates redundant data entry and a single data repository enables all reporting activities and data transfers to be centralized. In addition, the assignment, definition and encouragement of roles and responsibilities helps simplify the business process and improves the ability of SoftSmiths’ users to respond quickly to changing market conditions.
How does SoftSmiths impact ROI?
By deploying SoftSmiths solutions, customers achieve measurable ROI by reducing their cost of doing business and avoiding unnecessary costs and penalties. With SoftSmiths, customers can grow revenues, improve cash flow, increase staff productivity and improve service quality for business partners and customers by streamlining processes, keeping current with evolving industry standards and regulations, and having near-real-time access to business-critical information enterprise-wide. If an organization knows what its resources and obligations are in near-real time, it is better prepared to make decisions that can positively impact the health of the business. Having the access to information at your fingertip gives our customers the power to make better-informed decisions which directly impacts their ROI immediately.
What makes SoftSmiths a stable, smart choice in an uncertain market?
We are a growing and profitable company, with developers and service professionals who understand the marketplace and business practices of our customers. SoftSmiths has become successful by identifying the needs of our customers and addressing them through our products and services. We remain committed to our core competency: providing transaction management solutions is all we do. With our track record of solving complex challenges for a broad base of industry-leading customers, we leverage our focus on transaction management to provide the most adaptable, easy-to-use products for transaction management available in the industry.
What is your approach to research and development?
SoftSmiths is committed to research and development in business as well as technology. We do not adopt new technologies simply because they’re new. We identify the most accurate and refined tools available that will help our customers realize greater efficiencies in their business.
From the technology perspective, SoftSmiths focuses on utilizing components and processes that allow our solutions to remain cost-effective for all sizes of energy market participants. This means we often turn away from new, exotic tools that would require our customers to make huge initial investments to take advantage of our technology. On the business side, our team members attend various work groups where we follow, track and participate in developing new business practices and standards and keep up with industry news and developments. By combining business and technology goals in research and development, SoftSmiths minimizes the disconnect between research and implementation that many companies experience.