Raft International Plc, is pleased to announce that it has licensed raft credit, its credit risk management software to a US based Fortune 500 energy company.
This is the first license to be granted under the partner agreement with Sungard Energy Systems and represents a significant contract win for Raft in terms of license fees, consultancy and ongoing maintenance fees.
The client is a leading supplier of electricity to large commercial and industrial customers and one of the United States' largest wholesale power sellers.
Raft will initially implement its credit risk management software within the client's Wholesale division, which sells energy capacity and related products under short-term and long-term contracts. The implementation will provide the division with a comprehensive credit risk management system that includes exposure management, workflow, collateral management and web reporting functionality.
David Priestley, Chairman and CEO at Raft International said:
'I am delighted to announce this contract win with a US based Fortune 500 energy company. Such a contract endorses the quality of our software and provides an excellent reference site for future sales into the energy sector.'