2010 Marked Another Record Year For Revenue And Profits For Aspect Enterprise Solutions
March 28, 2011
Another year of record sales and profits marked the 10-year anniversary year for Aspect Enterprise Solutions (AES) in 2010. Its Web-based Software-as-a-Service (SaaS) commodity trading and risk management platform is being adopted in every region of the world as an affordable, flexible alternative to legacy software systems.
AES closed its fourth consecutive record year delivering 16 straight profitable quarters. On the back of substantial revenue growth, profits grew by 24% to $2.4M from $1.9M in 2009. AES’ flagship product AspectCTRM consistently gained new business growing by 28% against a market average of around 8%, with its market data and analytics portal AspectDSC following with a 5% gain.
In the face of a tough market, AES’ AspectCTRM continued its dominance in the mid-market with wins throughout the year in every corner of the world, including: OiLive(Singapore/Korea), Petro-Diamond (Singapore/Japan) S.E.T. Select Energy (Germany), Core Petroleum (U.S.), Integral Petroleum (Geneva/Moscow) and Taleveras (West Africa).
According to AES President and CEO Steve Hughes, “Our clients cite quick deployment and lower cost structure as key reasons for choosing AspectCTRM. As trading diversifies at these companies and trade volumes grow – advanced technology is needed to capture trading risk and exposures.”
Hughes added, “The mid-market has the same challenges as larger trading firms, and AspectCTRM gives them a solution to compete with the same feature advantages that the traditional software solutions deliver – but at a much lower cost, with quick ramp up and any-to-many scalability.”
AES’ SaaS delivery model is very much an advantage for companies with little or no IT resources and a budget focused on maximizing trades and operational efficiencies, not on deploying and maintaining software. AspectCTRM is not replacing systems, it’s replacing spreadsheets and inefficient processes as companies look to expand, profit, comply with regulations, and compete for credit with banks.
The year started with a nod from leading analyst group Gartner recognizing AES in its coveted Magic Quadrant For Energy Trading And Risk Management Platforms. Interest remained high for bunker data, metals/steel content and real-time oil data on iPhone ®, BlackBerry®, and other smart phone devices via AspectDSC, its decision support center for traders.
“As we look ahead, 2011 is already off to a great start with a new, multi-year CTRM Standard Edition (SE) subscription from a bulk buyer and terminal operator in West Africa,” says Hughes.
About Aspect Enterprise Solutions
Aspect Enterprise Solutions provides enterprise class market information, trade and decision support tools for energy, metals and commodities professionals. The company delivers real time position keeping, risk management, market prices and intelligence to users virtually anywhere, anytime. Trusted by over 500 corporations in more than 80 countries, the company’s solutions routinely support more than $10Bn of transactions every day. They go live quicker, fit more exactly and deliver greater ROI yet cost far less to implement than first generation offerings.
AES applications include AspectCTRM®, its flagship full-featured commodity trading and risk management enterprise suite for front, middle and back office. Aspect Enterprise Solutions TradeFlo deploys out-of-the box in just a few weeks. This CTRM lite edition is designed for small to mid-size trading, supply and end-user companies with smaller budgets and less complex requirements. As companies grow, and demands for more features expand – it easily scales to meet those requirements. AspectPM is its Price Manager solution which provides consolidation and support for the global oil price forecasting process and forward curve management.
VP of Marketing
Aspect Enterprise Solutions