Pune 5th April 2007: -- Triple Point Technology, Inc., the leading global supplier of cross-industry software solutions for the supply, trading, marketing, and movement of commodities, announced today it has recruited top executive, Anand Veerkar, to lead its Asia business unit.
Mr. Veerkar has over eighteen years of management experience working with product companies, consulting service organizations and system integrators. Prior to joining Triple Point Technology, Mr. Veerkar worked with Tata Unisys, Digital Equipment, Atos Origin, and Majesco Software. He has broad based experience in building and managing teams, including international operations, product development, customer support, professional services and sales and marketing.
As president, Asia Operations, Mr. Veerkar will build on the strong growth that Triple Point has experienced throughout Asia. Triple Point solutions are already in place at many of Asia’s major energy companies such as Gujarat Urja Vikas Nigam Ltd (GUVNL), Bharat Petroleum, Petronas and Reliance.
“I’ve known Triple Point Technology and its flagship product Commodity XLTM for a long time. The product is truly superior; it is the only real-time, straight-through processing, multi-commodity solution available anywhere in the world,” said Mr. Veerkar. “The opportunity for growth in the region is unlimited. For example, in India every state electricity board will be moving from a government coordinated structure to a market based supply and demand system where sophisticated software solutions are required to balance load, generation and transmission. GUVNL, in implementing Commodity XL, is the first state electricity company to deploy a fully integrated trading and risk management solution and it is imperative for each state to follow suit.”
“Anand is the right person to spearhead our Asian operations and lead the next level of growth in the region,” said Peter F. Armstrong, president and CEO, Triple Point. “His experience and expertise in managing rapid growth operations with a focus on profitability and achieving a company’s strategic goals is unparalleled. With Anand on board, and over 150 staff in the region, we have all the pieces in place to continue our rapid expansion.”
About Triple Point Technology, Inc.
Triple Point Technology is the leader in trading, risk management, scheduling and logistics solutions for commodities including power, oil, gas, coal, metals, agricultural products and freight. Triple Point Commodity XL profitably manages the complex, ever-changing requirements of physical and financial markets. Commodity XL integrates front-to-back office and delivers best-of-breed functionality for the supply, trading, marketing and movement of commodities on a single next-generation platform. Triple Point's real-time system helps customers of all sizes streamline trade processing, reduce transaction costs, maximize supply chain efficiencies, precisely measure and manage market risk, evaluate performance, and ensure regulatory and accounting compliance.
Named "Software House of the Year" by Energy Risk, Triple Point's award winning solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies including Hess Corporation, HETCO, Morgan Stanley, Preem, Westar Energy, OMV, BPCL, ConocoPhillips, Petronas, Oxy, Cinergy, Lehman Brothers, Commerce Energy, ITOCHU, Old Lane, and Glencore. Founded in 1993 and headquartered in Westport, Connecticut, USA, Triple Point serves clients in Asia, Africa, Australia, Europe, North America and South America from its five development and support centers strategically located around the world. More information is available at www.tpt.com.
Media Contact: Zubair Poonawalla @ Reach Out PR # 9422009260
