Mounting Energy and Carbon Complexities Are Changing Data Quality Standards

WASHINGTON, Jan. 8 /PRNewswire/ -- As energy markets become more volatile and carbon reporting mandates are established by the EPA, SEC, and key customers, the management of energy and carbon data is fast becoming a critical requirement for many businesses. For most companies, spreadsheets have provided a low-cost stopgap for the past decade. However, it is clear that the quality standards and sheer volume of data are too great for any company to reasonably manage without proven processes.

In today's economy, companies are looking to leverage the most cost-effective solutions which have them looking more toward outsourced partners that can better leverage business scale to maximize value and minimize cost. As such, more and more customers require assurance that a service provider's processes are documented, tested, and will stand up to the rigors of internal or external audit procedures. Service providers that do not have a Statement on Auditing Standards No. 70 (SAS 70) Type II audit in accordance with the American Institute of Certified Public Accountants' (AICPA) guidelines will not meet the necessary quality standards required to support such critical reporting requirements in the future.

Gregg Shively, Executive Director - Pace Energy and Carbon Management, states, "By passing a voluntary audit late last year (2009) of the systems and processes supporting our data and bill payment services, Pace recognizes the burgeoning market need for high standards surrounding the services we provide. The successful SAS 70 Type II audit underlines our dedication to delivering Best-in-Class business practices to our clients. Pace clients can feel confident that the controls we maintain will cost-effectively support their need for intelligence that can be used to create material cost savings and comply with reporting mandates."

Pace's SAS 70 Type II certification confirms that effective operational controls are in place for its Energy and Carbon management (Pace ECM) services that are provided to its client portfolio, which includes leaders in the industrial, commercial, and utility sectors. Developments in energy and carbon strategies require that data and processes be highly credible, rigorous, and dependable.

"Data quality and integrity are increasingly important to business success and the SAS 70 certification validates the quality of our data management service and sets us apart from others in the marketplace," states Timothy F. Sutherland, Chairman and CEO of Pace. He continues, "We are very proud of this significant investment in time and resources as we continue to focus on the quality of our services."

For over 30 years, Pace has pioneered energy and carbon management services that provide strategic direction to industrial, manufacturing, large commercial companies as well as public and institutional entities. Our experience covers all aspects of the energy value chain, enabling us to provide a highly comprehensive and integrated approach to your energy needs that yields reduced risk, improved efficiencies, and lower costs. To learn more, visit http://www.paceglobal.com. Media inquiries can be directed to Tricia Bruns at [email protected] or (703) 818-9100.

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SOURCE Pace Global Energy Services, LLC