Deloitte boosts energy with Tibco
European Union directives due to increase deregulation in the energy markets and changes in the complexity of energy trading systems have pushed Deloitte Consulting into setting up a global alliance with Tibco Software in its energy market sector.
“The Tibco system sits in the middleware and talks to the traders’ spreadsheets.
If you turn your PC off for a few days, once you switch it on Tibco automatically updates it and gives you all the newest data,” said Gilbert Toppin, head of Deloitte Consulting’s UK energy practice. “You can see it as disparate applications tied to a network with a central systems that updates everything.”
Deloitte Consulting has been working with Tibco for nine months; together the firms mean to provide energy firms with fully integrated real-time IT solutions. Toppin believes the alliance will give Deloitte the increased competitive edge on other firms working in the sector.
“The markets are changing and becoming more global,” he says. “Of 80 per cent of M&As in the US, we are advising one side or the other, so that means we have 40 per cent market share.”
In the 12 months to 31 May 1998, Deloitte saw UK growth of 300 per cent in its energy sector and global growth of 70 per cent.