Aspect Enterprise Solutions Books $3.5m In Wins As Global Traders Shop For Next-Generation ETRM
September 10, 2009
Converging pressure from legacy ETRM solutions going end of life and the economic climate requiring that traders cut overheads and make better informed deals is creating a rich picking ground for trade and risk management specialist Aspect Enterprise Solutions.
The company, whose next generation software-as-a-service (SaaS) solutions are quick to implement and highly cost effective, has won eight substantial contracts with trading houses across EMEA and Asia in the last six months worth a total of some $3.5 million.
Among the latest two to sign are Geneva-based Lemvig Oil Trading S.A., and a $36 billion global multi-commodity trading business based in Hong Kong with operations in Asia, Europe and the US.
In Geneva, an initial five-seat front-office implementation of Aspect Enterprise Solutions ETRM is due to be expanded soon with middle and back office modules. Meanwhile at the global trader a fully end-to-end Aspect Enterprise Solutions ETRM system is giving staff in London a powerful working toolset and executives in Hong Kong comprehensive oversight of trading activity.
The any-to-many scalability of Aspect’s SaaS solutions and the speed with which they can be deployed contrasts dramatically with legacy systems which typically take a year or more to implement and which fail to effectively scale downwards to support smaller trading operations. Even in a large scale fully end-to-end implementation, key elements of Aspect Enterprise Solutions ETRM, such as deal capture and risk analysis, can be in place, working and delivering value within a matter of days, with successive additional elements going live as the progress of integration projects allows.
“We’re seeing a lot of activity in the market as traders with legacy systems shop for next-generation replacements,” says Aspect Enterprise Solutions Enterprise Solutions’ CEO Steve Hughes. “As the Lemvig and Noble deals show, our architecture lets trading houses quickly equip from tens to hundreds of users, all for a monthly per-user subscription. All they need to provide workers with is a browser and an Internet connection. There is no need for additional software on existing client devices, no further investment in hardware and no consequential support costs at the desktop. As our order book shows, these are deal-winning features.”
Aspect Enterprise Solutions is a leading global provider of real time, on demand Web-based applications for commodities marketing and supply operations. Launched in 2000, AspectDSC solutions are now used by more than 500 top commodity companies worldwide. The company has a proven track record for delivering scalable solutions that produce measurable return on investment.