ITOCHU Corporation Launches ENTRADE ETRM System for Electricity, LNG and Oil in Tokyo
Enuit today announced that ITOCHU Corporation has launched the second phase of its ENTRIED implementation to meet its fuel needs in Tokyo.
TOKYO, JAPAN, April 22, 2021 /EINPresswire.com/ – Enuit LLC today announced that ITOCHU Corporation has launched the second phase of their ENTRANCE implementation taking care of their fuel needs in Tokyo.
ITOCHU Corporation, which has a rich history dating back to 1858, has 100 bases in 62 countries and is one of the main Sogo Shosha engaged in domestic trade, import / export and overseas trade of various products.
In 2019, ITOCHU started working with Enuit to develop a new system for their Tokyo Power and Fuel Business, including their Singapore Fuel Business.
ITOCHU Corporation sought to implement a solution that would be scalable as they grew and that could support their credit and Risk management and the accounting process.
New ETRM system (ENTRANCE®) will:
• Apply risk management by ensuring the transparency of positions in the various businesses.
• Allow ITOCHU Corporation to analyze the P&L across months and products and departments.
• And enable them to set operational standards within departments and standardize managerial and operational relationships.
Tony Teo, Managing Director of Enuit Singapore, said: “It has been a great pleasure working with ITOCHU Corporation. Considering the challenges 2020 posed for global interactions and the way traditional implementations have gone, the ITOCHU Corporation and Enuit teams have been extremely organized and committed to making this project live and run smoothly.
The history of ITOCHU Corporation dates back to 1858, when the founder of the company, Chubei Itoh, began trading in linen. Since then, ITOCHU has evolved and grown over 160 years.
With around 100 bases in 62 countries, ITOCHU, one of the main Sogo Shosha, engages in domestic trade, import / export and overseas trade of various products such as textiles, machinery, metals, minerals, energy, chemicals, food, general products, real estate, information and communications technology and finance, as well as business investment in Japan and the United States. ‘foreign.
Visit https://www.itochu.com/ to learn more.
ABOUT ENUIT LLC
Enuit LLC provides enterprise risk management solutions, also known as ETRM / CTRM solution, for energy and commodities trading companies worldwide.
We provide our clients with complete visibility, information, control and management over their business operations, helping them have the peace of mind to make quick and informed decisions that affect their bottom line.
Enuit, LLC is headquartered in Houston, Texas, United States, with offices in Beijing, London, Singapore, Tokyo, and India to serve markets in China, Asia-Pacific, Middle East , Europe and North America.
Visit https://www.enuit.com to learn more.