EP Resources, the Swiss-based energy and commodities trading company, has chosen Surecomp’s RIVO™ solution to automate its trade finance operations. The decision, announced on Thursday, aims to streamline the company’s management of documentary credits and working capital.
RIVO™, a cloud-based platform developed by trade finance technology provider Surecomp, is designed to centralise the lifecycle of trade document processing.
EP Resources expects the system to reduce manual workflows and provide improved visibility into its trade finance operations, as well as centralising and streamlining trade document processing across its lifecycle, and optimising liquidity.
Paul Deelstra, Head of Trade Finance at EP Resources, said the decision followed a “comprehensive evaluation” of the market. He described the move as “a strategic decision”, intended to “enhance our operational efficiency and improve our risk management framework.”
He continued, “We are now able to streamline our trade finance management, enabling us to focus on our core business objectives and drive growth in an increasingly competitive market.”
For Surecomp, a leading provider of trade finance solutions, the deal represents a significant win in the competitive commodities sector. Tal Weiser, Surecomp’s Chief Revenue Officer, expressed confidence that EP Resources would see “substantial improvements” in its operational processes and risk management capabilities.
The adoption of RIVO™ by EP Resources underscores a broader trend in the commodities trading industry towards digital transformation. As margins tighten and regulatory scrutiny intensifies, traders increasingly turn to technology to maintain their competitive edge.
The partnership between EP Resources and Surecomp comes as the commodities sector navigates choppy waters. Volatility and geopolitical tensions have heightened the importance of efficient risk management, and robust financial management and transparency have been emphasised.
