Last November Equias started a series of roadshows to explain more about the new electronic Settlement Matching initiative from EFET, and to demonstrate Equias' solution.
Equias organized 7 roadshows taking place in Switzerland, Germany, UK, Italy, Austria, Czech Republic and Spain. In total the roadshows were attended by more than 100 representatives from over 50 companies. During the roadshows the participants received information on the EFET’s electronic Settlement Matching (eSM) standard and the new Equias eSM solution which delivers the standard. Equias’ eSM v1.0 service went into live operation on 16th December 2019. It was built together with 17 companies which signed up as early movers. The next release eSM v2.0 is released for testing on 17th February 2020 and will go into live operation in March 2020, adding reconciliation of financial as well as physical trades and netting statements. The focus of the eSM group throughout 2020 is on rapid expansion and adoption of the process across the industry.
Equias eSM is an implementation of the latest EFET eSM standard aimed at automated electronic invoicing and matching of netting statements, which facilitates the longer term aim of reducing the length of the OTC settlement cycle for energy products, cutting credit risk and optimising cash utilisation.
Your company will benefit from eSM because it will lead to:
• Quicker discrepancy resolution leading to quicker payments.
• Reduce human error and freeing up resources in the current settlement process.
• Shortening of the settlement cycle, reducing credit risk and freeing up cash in OTC markets.
• Payments before issuing invoices - eSM will have a revolutionary effect on the paper process.
Are you interested in hearing more about Equias eSM for your company? Please contact us at firstname.lastname@example.org or visit our stand during eWorld 2020 on 11 – 13 February. You can find us in Halle 3, stand number 547.