Energy trading and risk management (ETRM) systems have been gaining momentum since the 1990s and continue to be at the heart of many energy companies’ information technology landscapes. In many cases, these applications have been developed and continually enhanced for decades and carry with them a legacy of outdated technologies and software development standards.
While major ETRM vendors have made improvements to their platforms in recent years to address these limitations, relatively few customers stay on the leading edge of software releases. Also, most of the traditional ETRM solutions were originally developed as on-premises solutions and most clients continue to operate them this way. These, and other factors, combine to create the potential for significant cybersecurity risk.
“While major ETRM vendors have made improvements to their platforms in recent years to address these limitations, relatively few customers stay on the leading edge of software releases.”
Many companies made significant investments in terms of time and money in the original implementation of their ETRM solution. Over the years, however, these applications have become increasingly…
