HOUSTON–Sapient Global Markets, a leading global provider of business technology and consulting services for the financial and commodity markets, today announced a new partnership with Innowatts, a leading provider of smart meter enabled predictive intelligence. The partnership will offer clients access to cutting edge energy forecasting and risk analytics as an integral part of Sapient’s ETRM implementations.
Despite recent advances in ETRM applications, the performance of energy trading functions is still burdened by the quality and sophistication of today’s load intelligence and forecasting inputs. It is becoming increasingly important to have highly accurate intelligence on customer load behaviors and the ability to predict how the customer reacts to the myriad of rapidly changing dynamics.
Innowatts’ bottoms up forecasting solution combines customer level consumption data and other behavioral intelligence with machine learning technology to create granular level forecasts that are considerably more accurate than conventional approaches.
“In a highly competitive retail energy marketplace, the key to profitability is all about understanding and minimizing uncertainty across the energy value chain, and the energy forecast is at the center of that whole process,” said Mudit Kapur, vice president at Sapient Global Markets. “Just a few percentage points of error reduction can translate into millions in commodity cost savings for our clients on an annualized basis.”
The Innowatts forecasting solution is a SaaS based platform that ensures use of the most up-to-date modeling intelligence, helping clients incorporate near real time changes in climate, customer behavior, operating environment and distributed energy resource utilization into their decision making.
Formalizing collaboration between the two firms will combine Innowatts SaaS-based solution with Sapient Global Markets’ extensive track record and reputation for delivering business and technology consulting expertise to energy and commodity market participants. This has already seen significant success with the first production integration within an ETRM solution at a leading US energy provider.
“We are very excited that Sapient Global Markets has selected the Innowatts forecasting solution as such an integral part of its ETRM offering,” said Sid Sachdeva, CEO of Innowatts. “Through this partnership we hope to help Sapient’s current clients leverage the full benefit of their ETRM solution, and extend the value of smart meter enabled forecasting into new markets in the US and abroad.”
About Sapient Global Markets:
Sapient Global Markets, a part of the Publicis.Sapient digital transformation platform, is a leading provider of services to today’s evolving financial and commodity markets. We offer services and unique methodologies across business consulting, user experience, operations, program management, technology development and solutions. Fusing creativity, technology and industry expertise, we enable our clients to grow and enhance their businesses, create robust and transparent infrastructure, manage costs, and foster innovation to their customers and throughout their organizations. Sapient Global Markets operates in key financial and commodity centers worldwide, as well as in large technology development and operations outsourcing centers globally. For more information, visit www.sapientglobalmarkets.com.
Innowatts is a leading provider of machine learning enabled platform solutions for the Utilities, Energy Retailers and Energy Consumers based out of Houston Texas. It was founded in 2013 with the vision of building an analytics-driven digital utility that drives COGS optimization, predictive engagement and enhanced customer lifetime value. Innowatts platform is currently deployed across multiple utilities and Retail Energy Providers processing over twelve million energy meters to build out real time load profiles, personalized products and engagement strategies. For more information, please visit www.innowatts.com