LISLE, Ill., March 8, 2018 /PRNewswire/ -- ENGIE, a global energy company with over 150,000 employees in about 70 countries, recently upgraded to pro membership on Aquilon's Energy Settlement Network. ESN is an innovative, cloud-based platform that automates the energy settlement process. The network helps members realize significant improvements in operations, audit, compliance, cash flow management and security. With access to the full capabilities of ESN, ENGIE's settlement team can manage an ever-increasing number of transactions more easily.
"We're pleased to see another industry leader like ENGIE embrace ESN," said Jeffrey Wagner, founder and CEO of Aquilon Energy Services. "Companies are finding that nearly 70 percent of their counterparties are already on the network, making it cost-effective for them to leverage ESN and realize benefits rapidly."
ENGIE's rapidly growing book of business drove their search for a tool to automate and simplify the settlement process. After their analysts experienced the ease and operational efficiency of settling on ESN as basic members, ENGIE chose to go pro, putting a solution in place that would scale with their rapid growth. With a tool that fosters collaboration between their settlement analysts and counterparties, ENGIE is excited that the process will be more efficient and far less stressful, identifying exceptions well in advance of invoice due dates.
"The implementation went live in 70 days," said Michael Fitzgerald vice president of customer operations for Aquilon. "Keeping pace with ENGIE's rapid growth, the project teams at ENGIE and Aquilon worked together seamlessly to launch quickly."
Since ESN launched in 2015, members have settled more than 9 million physical and financial power and natural gas transactions totaling over $17 billion. Today, more than 500 companies—ranging from electric utilities and multinational oil and gas companies to Fortune 500 financial institutions—settle energy transactions on ESN.
For more information about ESN's explosive growth, view our infographic.
About Aquilon Energy Services Inc.
Aquilon Energy Services Inc. develops innovative software and service solutions for the energy industry. The Aquilon team combines deep industry insights with advanced technology to bring reliable, collaborative solutions to the energy market. The firm's Energy Settlement Network (ESN®) enables energy participants of all sizes to manage, access and settle large volumes of power, oil and natural gas transactions with their counterparties. The company, which was named the 2017 Innovation of the Year by Energy Risk magazine, is based in Lisle, Illinois, and has an office in Houston. For more information, visit www.aquiloninc.com.
SOURCE Aquilon Energy Services Inc.