OpenLink announces asset transaction management for midstream, downstream operations
HOUSTON, Texas – OpenLink, the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries, announced that its newly developed solution, Asset Transaction Management (ATM), is now live at three leading energy clients—including Williams Midstream Partners and SemGroup—and open to the market.
Many asset operations are increasingly spinning off from the marketing or trading arms of the business, and companies are transferring their assets to master limited partnerships or independently operated units for financial benefits. To manage this, asset operators need a system that specializes in managing shipper nominations, allocations and invoices, in addition to a customer service web portal that delivers enhanced value propositions to their customers.
Traditionally, operator processes have been hindered by disparate systems, manual spreadsheets, emails and phone calls. OpenLink developed ATM in direct response to market demands by providing a completely integrated platform that frees up resources to focus on higher value activity, the company stated in a press release.
“With new pipelines and terminals coming online and ever-increasing competition, it’s more important than ever for asset operators to ensure their nomination processes, allocations and transactions are accurate and fast and that they are providing the online services their customers desire,” said Rich Grossi, CTO at OpenLink.
ATM serves all companies that operate pipelines, terminals, blending facilities, fractionation facilities and other types of assets and charge fees for services rendered. The platform functions via a unique web portal that caters to the needs of both asset operators and their customers within a singular, intuitive system. It centralizes the collection of data and provides timely and accurate inventory reporting for midstream and downstream operators while providing their customers with superior service along the transaction lifecycle.
Comments