E1 Corporation Selects Allegro’s CTRM Software
Leading Korean LPG Business Chooses Allegro’s Cloud-ready CTRM Software for Enhanced Capabilities in Trade Capture, Logistics, Risk Management, and Exposure Reporting
SINGAPORE, Jan 8, 2019: Allegro Development Corp., the global leader in commodity trading and risk management (CTRM) software coupled with advanced analytics, today announced that E1 Corporation, Korea’s leading liquefied petroleum gas company, has selected Allegro’s cloud-ready CTRM software to optimize its portfolio through enhanced capabilities in trade capture, logistics and risk management, and exposure reporting.
E1 imports, exports, stores, sells, and services liquefied petroleum gas (LPG) regionally and internationally. The company has become Korea’s number one environmentally friendly organization, covering over 50 percent of Korea’s LPG import demand and deploying a total LPG business that embraces the entire distribution channel — from oil and gas producing countries to end consumers.
Prior to selecting Allegro’s CTRM software, E1 realized the need to replace its manual, in-house portfolio management processes with an automated and flexible enterprise solution that offers greater controls, enhanced risk management, detailed reporting, and growth enablement. E1 also required a system with functionality that allows for fast deployment and seamlessly integrates with its IT new generation initiative to upgrade to new accounting and ERP platforms.
“As we grow and lead Korea in the clean energy movement, the E1 team finds it imperative that our business processes and technology investments give us a competitive advantage and align with our growth strategy,” said Kim Sang Hoon, Vice President, Overseas Marketing Division, E1. “Allegro’s cloud-ready CTRM software provides the functionality, flexibility and scalability we need to quickly accomplish these goals through automation, full portfolio visibility, and complex risk management capabilities. We are excited to see the near-term ROI as the system allows us to strategically plan for larger LPG trade volumes, better manage complex trade risks, and provide timely and accurate position and risk reporting.”
With demand continuing to grow in Asian countries, the region’s energy companies continue to turn to Allegro’s agile and flexible cloud-ready CTRM software for fast deployment and automation capabilities.
“I am thrilled to welcome E1 into the Allegro family,” said Jonathan English, SVP, Global Sales, Allegro. “On the heels of a Hanwha Total 10-week go live, the Allegro team is primed to continue our agile implementation methodology with E1; and we look forward to continuing our growth in the Asia-Pacific region.”
About E1 Corporation
E1 Corporation imports, exports/trades, stores, sells, and services liquefied petroleum gas (LPG) primarily in South Korea. The company operates wharf facilities for carriers ranging from small pressurized ships to LPG ocean carriers; transports LPG from oil-producing countries by deep sea refrigerator ships; and stores and manages LPG at Yeosu and Incheon terminals equipped with sea and land loading/unloading facilities. It supplies LPG through various sales channels, including autogas stations, refueling stations, and retailers to residences and commercial establishments, as well as through direct pipelines petrochemical plants. E1 operates a network of 368 autogas stations. It also exports LPG to Thailand, China, Taiwan, Japan, Vietnam, and internationally. The company was founded in 1984 and is headquartered in Seoul, South Korea. Visit the company’s website to learn more at http://www.e1.co.kr/Eng/.
About Allegro Development
Allegro is the global leader in commodity management software for companies that buy, sell, produce or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture that is built for your business. Allegro’s proven CTRM software innovation and flexibility, coupled with a strong global network of industry partners, makes its solutions the best on the market for full commodity portfolio management.
Headquartered in Dallas, Texas, Allegro has offices in Houston, Dubai, Jakarta, Singapore, London, and Zurich.
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About ION Commodities
ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients to use real-time risk analytics and reporting, minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/.