Billed as the first online electricity trading system in the world, Marketplace Company’s Commodity Market Information and Trading System (Comit) is coping well with the deregulated energy market.
It was obviously a capital idea for the Wellington firm as it powered above the rest in this category.
Comit matches wholesale level sellers and buyers of electricity to balance supply and demand requirements on the electricity “spot” market.
Everyday, the Internet-based system handles more than 80,000 transactions and settles more than $1 billion a year.
The convening judge for this category, Adele Dimopoulos, says Comit is a great example of technology used well to provide a sophisticated business solution.
“The Marketplace Company has created a B2B exchange that is an innovative business solution in global terms. The approach taken, of leveraging sophisticated tool sets, is very appropriate to the business opportunity,” she says.
“This is a truly impressive system. The degree to which it is impacting the electricity supply marketplace, together with its excellent design and functionality are the two things which set this system ahead of the rest.”
The other finalists were:
- Micro-Direct’s new trading Web sites which has a list of 50,000 computer products for online sale. It offers an online showroom, it stores goods in a virtual warehouse and can deliver direct to the customer. There is also a local auction site and an international trading Web-trading site called Geomonkey.
- Computerland (CLNZ) stores have an online Zeus trading system developed by its own CLNZ development group. It stocks 40,000 items and customers can access the site and place orders. A Web configurator allows managers to set up a fully customised Web site for each customer to give them instant online access to product ordering. Zeus also offers customers and staff real time access to client details held on Computerland’s Peoplesoft system.
- The New Zealand Herald’s Stockwatch has 22,000 registered users, making it one of the most visited in the country. Stockwatch is hosted on Apache Web servers with a Microsoft SQL and database. It features more than 350,000 quotes a month, with 100,000 charts and 33,000 news items. Stockwatch’s e-alert system also alerts subscribers when share prices reach a certain level.
- Online Warrants of Fitness are available after a partnership between Unisys and the Land Transport Safety Authority. More than 3000 garages are connected to the LTSA central business system allowing immediate validation of WOF data, so much better than sending the details through the post.