SINGAPORE/STOCKHOLM, 27th April 2020 | Press Release
Chinsay, the provider of end-to-end trade digitalisation technology for the commodity markets, is announcing today that Stockholm Exergi will be using Chinsay’s ICP (Intelligent Contract Platform) for its fuel purchase contract processes.
Stockholm Exergi, the provider of heating, cooling and electricity for the city of Stockholm, with 90% renewable or recycled energy, will be replacing internal templates with the ICP customisable workflows. This will simplify and systemise compliance and give Stockholm Exergi the ability to capture structured data which can be reused throughout the system, end-to-end. This gives the company full visibility and a comprehensive repository of information which can be used for auditing, along with historical data from the purchasing process, enabling complete analysis of all contracts.
Monica Lundgren, Fuel Supply Manager of Stockholm Exergi, says: “Chinsay’s system enables us to reach the full potential of our improved and recently-implemented process for risk and contract management. This is an important first step in our mission to digitalise our complete end-to-end Fuel Supply process. The most important factors for choosing Chinsay as a supplier are the simplicity and flexibility the system offers.”
Colin Hayward, CEO of Chinsay, said: “We are very pleased to have been chosen by Stockholm Exergi for our SaaS solution, ICP, which offers extensive capabilities for digitalising and standardising data and controls. It promises to be a great business asset and will allow Exergi to ensure compliance and mitigate risks in real time.”
Chinsay’s ICP allows Stockholm Exergi’s legal department to create clauses that are then locked for further changes, with the flexibility of adding customised permissions to different departments, giving the company a tightly-controlled environment for contract creation and execution.
ICP is Chinsay’s latest and most powerful data capture platform, designed specifically for commodity markets. Its capability of digitalising trade processes and automating workflows, which are specifically customised for each client, offers companies a full view of operations and, through behaviour analysis and predictions, allows organisations to have full control of future business.
About Stockholm Exergi:
Stockholm Exergi is the local energy company of Stockholm, owned by the City of Stockholm and Fortum. We provide heating for more than 800,000 people in metropolitan Stockholm and cooling for over 400 hospitals, data centres and other properties. Our 700 employees are working together with our customers and the local community to provide the city with simple, reliable and sustainable energy solutions.
Founded in 2000, Chinsay is the leading global provider of contract automation systems for the commodities and freight markets. Its Intelligent Contract Platform (ICP) enables digitalisation of contract data sets across the supply chain. As a pure software-as-a-service platform, with the ability to support API integration, it has one of the fastest deployment times in the industry. The Intelligent Contract platform captures data during the contract creation process, providing a Golden Copy as a result of collaboration between all involved parties.
Chinsay’s concept of ‘one-time deal capture’ enables integration with risk management, accounting, legal and operational functions. This results in cost savings, increased efficiencies, improved security and risk control. ICP provides companies with the opportunity to make informed, data-driven business decisions.
Chinsay partners with clients and other technology vendors to increase efficiency and improve security and risk controls. Through industry-leading product discovery and devops practices, Chinsay rapidly and continuously adapts its software precisely to our clients’ needs. Leveraging Microsoft Azure facilities for end-to-end encryption allows us to offer the highest possible data security to our clients.