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Success Snapshot: 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.