Established during 1980’s as an oil and gas accounting software solution provider, Allegro first focused on primary commodities, like crude oil and natural gas, when the commodity market was in its nascent stage. The company was one of the few organizations to develop and build community management software solutions. Today, Allegro’s solutions are sought for its unique capability in helping commodity traders quantify and hedge risk “Allegro was conceived out of the knowledge and understanding of the end-to-end commodity value-chain and evolved by layering features in our risk management solutions that give customers a holistic view of their entire asset portfolio to minimize risk and drive profitability,” says Michael Hinton, Chief Customer Officer and SVP, Allegro Development. “Today, Allegro manages the entire energy spectrum along with other financial instruments impacting those commodities.”
Allegro 8, the company’s flagship product, is a comprehensive suite of CTRM solutions that leverages the benefits of grid computing to enhance processing capabilities of companies needed to meet their growing portfolios. The solution delivers over 41 standardized connectivity components that manage transactions, logistics, and settlements to assess and quantify risks.
Many companies have experienced immense benefits and value by investing in Allegro’s solutions. Devon Energy, a producer of natural gas and crude oil approached Allegro to help them streamline their deal validation process and unravel methods to increase market opportunities to sell their products and coordinate marketing, accounting and regulatory functions. “Allegro helped us capture and use all marketing and revenue data and manage risks,” says Debi Chandler, Senior Supervisor, Devon Energy. With Allegro’s solution suite, Devon was able to align its marketing, accounting and regulatory groups while saving millions of dollars.
Allegro 8 is a comprehensive suite of CTRM software solutions that leverage the benefits of grid computing to enhance processing capabilities of energy companies needed to meet their growing portfolios
The success stories of Allegro customers add credence to its market stance as the technology leader in enterprise risk management. For the future, the firm plans to strategically invest and exploit growth opportunities across the global industry platform and expand into adjacent markets. “Our strategy is to collaborate with companies which offer solutions that are complimentary to us,” concludes Hinton. In June, Allegro announced the acquisition of JustCommodity.