VESSEL GROUP INSIGHTS
A Fresh Start to a
The situation is unfortunately common, a legacy system or combination of spreadsheets, have begin a CTRM implementation project to replace it, and the project has stalled.
Is yours currently stuck? Does the above apply to you?
Why do implementations get stuck? Some common causes:
Remote work environment has stalled existing project cadence
Project Lost Funding
Internal staff left, so the project has no true lead or sponsor. (original sponsor left)
Decision making is bogged down in bureaucracy and meetings
There is no true person with decision making authority
External systems or other projects are running behind for integration (e.g. a simultaneous ERP system implementation)
Data warehouse or interface between other systems stuck
Internal teams do not want to leave legacy system
How can you get un-stuck?
Outside project management firms with remote project expetise can establish a cadence and recommend technology that allows for project continuation
Evaluate new funding sources, calculate benefits of the added efficiancies in completeing implementation
Hold a new kick-off meeting to clearly define roles, choose new project sponsor. Begin documenting knowledge and status
Prioritize projects your implementation is dependent on, or shift to a more modular, AGILE implementation style that isn't "all-or-nothing"
If integration between systems is stuck, consult a firm specializing in these interfaces.
Establish a "change management" team and training schedule to assure users that new system is not just efficiant, but will streamline their workload
Realistic assessments sometimes present the honest truth, that a project is so far gone has to be considered "sunk cost" and may need to be scrapped, realistically to move forward.
About to start an implementation? Avoid getting stuck by...
Early planning can prevent these issues - an advisory team with many implementations under their belt has seen these before, and can help avoid them
Change management strategy early on, training and buy in on new system from executive team to workforce
Clear integration map with other systems
Clear documentation, along the way, in case visionary or project team is replaced, you can pick up where they left off
Piece by piece "agile" implementation, with useful modules along the way. A multi-phase project is less risky, and value is created along the way, versus having to scrap the whole thing with no value provided
EXPERIENCE OUR CLIENT GROWTH
Par Pacific Holdings
Like many firms, over time Par Pacific's data was housed in various platforms and spreadsheets. Our process and technology assessment revealed the opportunity to consolidate these multiple reporting platforms and spreadsheets into one centralized system. A detailed system selection process was conducted by the Vessel Group, considering over 20 platforms - in this case Allegro was chosen for it's scalability and par-specific functional excellence.
Post implementation, Par Pacific now has real-time visibility into its crude refining processes, improving risk positioning. They have also added mark-to-market tools, automated pricing, daily valuations, and have full transparency of front, middle and back office, with auditable internal controls and functions.
How far have they come? Par management can now approve trades, and view reports remotely, using Allegro's app functionality. Technology as a help, not a daily hassle - we can all get behind that.
"We appreciated the knowledge and expertise of the Vessel Group. They came to help us solve our problems without charging us for work we didn’t need. This is how all vendors should treat their customers."
Will Scott, Parkland USA
"After the ETRM go-live, our team recognized the need to leverage the tool to its full capabilities, so we engaged The Vessel Group's Training group, led by Dusti Krchnak, to assess our system.
Post assessment, and after applying the group's recommendations, we have a clearer idea of how to fully leverage the core functionality within the ETRM system. In our experience, the Vessel Group not only has a high-level understanding of the energy industry, VG also possesses a deep ETRM knowledge that when implemented properly, saves organizations both time and money.”
We continue to work in partnership with The Vessel Group's expertise to enhance our user’s experience!"
Quincy Hilliard, Osaka Gas USA