The world’s most comprehensive platform for marine fuel
Harness the power of benchmarking. Imagine being able to compare your procurement with thousands of purchases produce by peer companies. Picture the potential for improvement of being able to see how others procure. That is benchmarking. Our most tailored service to date, available for all our customers.
ENGINE is in an unique position to tell you how efficient your procurement is being made. We get to see thousands of transactions taking place alongside yours, which puts ENGINE’s analysts in the best position to spot pockets of opportunity for improvement. The best part? It’s tailored for each user. We don’t create reports. We tell you the story behind the data. We discover the areas of opportunity, and backed with data, we present them for users to profit.
The beauty of the concept is that no names need to be revealed for telling a story on where opportunities lay. Every time a transaction is captured by ENGINE, the system anonymizes it. This way, a user receiving their benchmarking report, of course know their own purchases, but never get to know any of the parties related to the other transactions they are being compared to. And best part is that no value is lost in this anonymisation, as the value of the comparison lays in the purchase it self, regardless who bought and who sold.
Harness the power of benchmarking. Imagine being able to compare your procurement with thousands of purchases produce by peer companies. Picture the potential for improvement of being able to see how others procure. That is benchmarking. Our most tailored service to date, available for all our customers.
ENGINE is in an unique position to tell you how efficient your procurement is being made. We get to see thousands of transactions taking place alongside yours, which puts ENGINE’s analysts in the best position to spot pockets of opportunity for improvement. The best part? It’s tailored for each user. We don’t create reports. We tell you the story behind the data. We discover the areas of opportunity, and backed with data, we present them for users to profit.
The beauty of the concept is that no names need to be revealed for telling a story on where opportunities lay. Every time a transaction is captured by ENGINE, the system anonymizes it. This way, a user receiving their benchmarking report, of course know their own purchases, but never get to know any of the parties related to the other transactions they are being compared to. And best part is that no value is lost in this anonymisation, as the value of the comparison lays in the purchase it self, regardless who bought and who sold.
Pricing is definitively the most important and sought after point of comparison, when it comes to assessing procurement efficiency. But by no means the only one. Price-only comparisons not only are myopic, but importantly they leave little room for improvement. Quality-price elasticity. Stem size-price correlation. Anticipation in putting forward orders. Suppliers coverage. Progression over time. Ports and grades with highest improvement opportunities. There is a lot more than just prices.
There are many ways in which users can provide their data to ENGINE for benchmarking purposes. The most straight forward and automatic one is transacting via the platform. Deals are automatically captured and stored for later analysis. The alternative is for users to key in themselves the transactions they’ve entered, but outside ENGINE. Lastly, but one of the most used features: ENGINE Automatic Fixture Processing Service (AFPS).
AFPS is where artificial intelligence (AI) connects with ENGINE. A system developed in house for reading emails that extracts all the relevant information and produces the corresponding fixture in the system. Exactly as if that trade would have been done via ENGINE or keyed-in manually by the users. Just forward to AFPS the confirmation note received by email by the physical supplier you fixed with and AFPS will do the rest. Completely automated. Completely confidential.
Security is a the centre of ENGINE. That’s why all our systems have been developed with top grade security standards in mind. Same standards that we apply to our users’ data.
ENGINE runs on independent servers provided by Microsoft Azure. Also, ENGINE is ISO 27001 compliant, the gold grade certification that gives users peace of mind that their data is the best hands when with ENGINE.
