WOODLANDS, TX--(Marketwire - Jun 4, 2012) - Woodlands Solutions is pleased to announce that it has been awarded the Energy Risk 2012 Best Newcomer of the Year award for its Phoenix ETRM software solution. Each year the award is given to a new entrant to the energy commodity markets in recognition of a significant innovation or achievement. In Woodlands' case, the award recognizes the Phoenix Core in the 2011 release of Phoenix ETRM 5.0.
The founders of Woodlands Solutions saw a need for a new solution capable of taking advantage of processing power improvements as well as development innovations to build a more affordable ETRM solution with better functionality. The release of Phoenix ETRM 5.0 in 2011 represented a huge milestone in the achievement of that mission. Although Woodlands' ETRM system includes several functional and technical innovations, the innovation which led to the award was the Phoenix Core.
The Phoenix Core is a data warehouse of detailed position data presented to users in a simple, intuitive manner. As positions or market data are captured or modified, Phoenix ETRM's distributed processing engine automatically updates the Phoenix Core to reflect the new positions. All downstream functions (from position whiteboard and risk analysis to scheduling and settlements) access and update the data directly within the Phoenix Core. As a result, all business functions share a "single source of truth" that is always up to date. Moreover, the intuitive approach has led Woodlands' customers to refer to it as "the giant spreadsheet in the sky" as it allows them to intuitively filter and sum across a virtually unlimited number of portfolio dimensions, providing unparalleled position reporting functionality. The result is that Phoenix ETRM provides customers with the business intelligence they require to see risks and opportunities hidden to their competitors.
"We're proud to win the Best Newcomer award and thank Energy Risk Magazine for their kind recognition. Thanks also to our customers and the industry consultants who nominated us for this award," said Steve Wall, CTO of Woodlands when accepting the award on behalf of Woodlands.
About Woodlands and Phoenix
Woodlands Solutions specializes in helping organizations with exposure to energy commodities improve their operational efficiency, better manage their exposures, and demonstrably improve their control over operations through our Phoenix Energy Trading and Risk Management solution.