Interview: IRM vs. BelVis⁺ PFM – Two perspectives on the change.

The new KISTERS portfolio management system BelVis⁺ PFM is the completely redesigned successor to our three existing systems BelVis 3 PFM, eRisk and IRM. What advantages does BelVis⁺ PFM offer over IRM and why is it worth switching? Christian Bauer, Senior Solution Manager, and Robert Weinguny, Senior Software Architect, summarise the benefits of BelVis⁺ PFM in an interview.

IRM has been in use for years. Why should you switch to BelVis⁺ PFM?

Christian Bauer (CB): From a technical perspective, the energy market has changed completely. Today, we have much more complex trading processes, larger amounts of data and flexibility requirements that IRM simply cannot meet anymore. For example, changes to transactions are extremely limited in IRM. If a trading partner or the direction of a transaction changes, it is almost impossible to reflect this. BelVis⁺ PFM, on the other hand, allows every aspect of a transaction to be adjusted retrospectively – without workarounds. This saves time and avoids errors.

Robert Weinguny (RW): From a technical point of view, IRM is based on an architecture from the 2000s. It is monolithic and not scalable. BelVis⁺ PFM relies on a Kubernetes-based platform with microservices. This means automatic scaling, self-healing and updates with virtually no downtime. We can roll out new features without stopping the entire system. This is a huge difference and makes the platform future-proof.

What does the new user interface have to offer?

CB: To be honest, IRM is no longer up to date in this respect, especially when it comes to the operating concept without dynamic adjustment to monitor sizes and without parallel windows. BelVis⁺ PFM is completely different: dynamic window sizes, support for mobile devices and the option to use as many windows as you like at the same time. This makes everyday work much more flexible and modern.

RW: Technically, the BelVis⁺ interface is based on Angular 19 and PrimeNG. It is a modern single-page application that runs in its own container and is secured via REST and OAuth2. For the user, this means fast loading times, clear structures and an interface that adapts to any environment. We can also update the UI independently of the backend – without system downtime.

Time series are a key topic. What has changed here?

CB: In IRM, time series are one-dimensional and highly structured. You can only access stored values – which are often outdated. Combining different granularities is complicated, and the visualisation options are very limited. BelVis⁺ PFM, on the other hand, calculates data live, so that current values are always displayed. Time series can be combined and calculated independently of the grid. In addition, groupings can be displayed flexibly. This is a real game changer for analysis.

RW: Technically, this means that we no longer base our calculations on pre-calculated time series. Instead, everything is done ad hoc. This reduces memory requirements and greatly simplifies working with the system. And thanks to the modular architecture, we can outsource time series management to specialised services that scale independently of each other. This is a major advantage over IRM, where totals have to be updated manually or via separate processes.

What improvements have been made in terms of interfaces?

RW: IRM offers only very limited interfaces that require expert knowledge. BelVis⁺ PFM takes an API-first approach. We have REST APIs with clear interface contracts and OAuth2 authentication. This is not only secure, but also easy to integrate. The big advantage over file exchange: REST APIs work in real time. No static CSV files, no manual imports. Processes can be controlled directly, data is available immediately. This makes integration into complex customer environments much more efficient.

CB: For the user, this means less waiting time, fewer sources of error and a much simpler connection to other systems. From a technical point of view, this allows us to automate processes that used to be manual – for example, the transfer of trade confirmations or billing with partners. This saves an enormous amount of time.

And what about operation and further development?

RW: BelVis⁺ PFM is designed entirely on cloud-based technology. The advantages of this technology can also be exploited in on-premises installations. These include, among other things, a simple and standardised update and rollout process. Compared to IRM in particular, the advantage is that updates or installations can be carried out without expert knowledge. New features or services can be added at any time, and depending on the application and required functions, not all modules need to be installed. This makes BelVis⁺ PFM not only stable, but also extremely flexible and expandable.

What is your conclusion?

CB: BelVis⁺ PFM not only offers technical advantages, but also changes the way we think about portfolio management. We have more flexibility, better visualisation, centralised business management and new modules that make everyday life much easier.

RW: And from a technical point of view, BelVis⁺ PFM is a quantum leap: cloud-native, scalable and modular. We are moving away from monolithic software that is difficult to maintain towards a microservice-oriented architecture, which means we are prepared for all conceivable adjustments and further developments in software development. This architecture will also allow us to flexibly and safely exchange or use other programming languages and technology stacks in parallel in the future – without a ‘big bang’. Security and vulnerabilities are also an integral part of the design and development strategy in BelVis⁺, rather than just a mandatory exercise that had to be fulfilled in a rudimentary manner. The primary focus is now not only on features, but also on secure operation.