Commodity XL – Inspections Software Powered by Navarik
Does your current system enable you to automatically flag high-risk deals that could result in costly off-spec cargo?
Do you have business intelligence that highlights supply sources that are at risk for going off-spec or identifying cargoes that are under priced?
Are systems in place to review and approve invoices to reduce the risk of being over or double-billed?
- Navarik Inspection™ is the industry standard in cargo inspection management for crude oil and petroleum products and helps some of the world’s largest energy companies, including Chevron, BP, and Shell, to streamline physical operations…”
- Understand cargo quality/quantity losses
- Track cargo volumes
- Monitor multi parcel, multi port, and ship to ship voyage reconciliation
- Generate reports on cargo quality trending, vessel, and terminal performance
- Manage cargo quality specification trending by grade and location
- Create and send nominations
- Submit inspection worksheets and invoices
- Break down reconciliation for crude and products by legs of voyage
- Automate processing of inspector invoices to back-office systems
- Automate oil loss calculations for simple and complex voyages
Compliance & Control
- Alert multiple personnel of contractual discrepancies; quality and quantity
- Reduce operational risk by proactively prioritizing tasks
- Ensure SOX compliance; audit trail of all functions
- Utilize proactive security/monitoring
- Receive email alerts when oil loss or cargo thresholds are exceeded
Commodity XL for Inspections Powered by Navarik extends Triple Point’s straight-through processing (STP) capability to connect energy and commodity companies with inspectors. The revolutionary inspection solution automates the physical commodity transaction lifecycle including deal execution, logistics, inspection, and settlement, dramatically reducing operational risk. The software enables energy and commodity companies to increase productivity and improve trading decisions. For example, Navarik Inspection tracks the quantity and quality of oil shipments and instantly highlights discrepancies between inspection results and contractual terms to ensure that potential loss or quality claims are identified and processed in a timely manner. Many of the world’s oil companies, including BP, Shell, and Chevron rely on the cargo inspection solution to achieve better operational performance and determine the quantity, quality, and status of cargos by standardizing the collection of custody transfer and inspection results. Commodity XL for Inspections Powered by Navarik automatically identifies claimable losses, warns operations of off-spec cargos, speeds deal settlement, and drives better inspection- firm performance. By creating a central space for operations personnel to collaborate with the field, everyone has access to the business intelligence required to mitigate risk and make better decisions.
Connects energy and commodity companies with inspectors to automate the physical commodity transaction lifecycle from deal execution to cash settlement
How to get started
- To learn more about Commodity XL for Inspections Powered by Navarik and what it can do for your supply, marketing, trading and scheduling activities, download a brochure
, request more information
or call +1.203.291.7979.