Aspect Enterprise Solutions To Unveil Cloud-Based Physical Operations Solution For Bunker Trading Companies At IBIA Annual Convention
October 27, 2011
Aspect Enterprise Solutions, a provider of multi-commodity trading and risk management Software-as-a-Service (SaaS) applications delivered in the Cloud, is set to unveil its new physical operations functionality for bunker trading companies at the IBIA Annual Convention, November 2-4 in Barcelona, Spain.
This powerful new physical operations functionality has recently been released to its established trade and risk management platform, AspectCTRM, which includes a bunker-specific edition.
AspectCTRM for Bunkering has long featured customized functionality for the unique trading scenarios of bunker companies which includes: company-wide visibility of stocks; management of bunkering sales and controls; consolidated risk management; and flexible multi-product support for spot and term bunker deals from contract through settlement.
Newly released functionality features the storage component of AspectCTRM Physical Operations which adds an on-screen inventory workbench that includes planning and actualization of movements into, out of, and between storage locations; stock and ullage projections; stock reconciliations; stock valuation tracking; and cost allocations. Capacities and constraints, together with storage-related contract costs, can be tracked and managed.
Trade and risk controls together with strong inventory capabilities provide a real strength and competitive advantage in a market where spreadsheets have long been the norm for managing trades, and have created blindspots in the supply chain. Leveraging the right trading and risk management system helps bunker traders manage trades and understand profits and losses (P&L) and exposure in real time against changing inventories.
According to Aspect Enterprise Solutions President and CEO Steve Hughes, this solution provides competitive advantage and an affordable solution. “For many bunker companies, large trading and risk systems are often too complex. This can scare companies away from trying to implement a solution, leaving them to continue managing their inventories in the way it has been managed for many years – with spreadsheets. Spreadsheets don’t allow collaboration between traders, inventory managers and accounting. Spreadsheets don’t provide good visibility, or the capability for scenario analysis,” says Hughes.
AspectCTRM for Bunkering combines all the required core functionality required for trading together with ultra-fast speed of implementation – typically a few days, not weeks or months – and a scalability that makes it cost-effective for small operations right up to the heavyweights that dominate the world’s bunkering hubs.
The addition of the AspectCTRM Physical Operations module makes Aspect Enterprise Solutions the first wholly Cloud-based solution of its kind to offer true end-to-end processing for oil trading firms. It integrates front office trading, middle office storage and physical operations, with back office business and financial operations into one common system.
Components for physical shipment operations will follow later this year, adding workbenches for allocations, shipments and operations.
Visit www.aspectenterprise.com for more information including details for pricing and editions. Visit https://aspectenterprise.com/industries/aspect_ctrm/bunkering.php for AspectCTRM for Bunkering information.
About Aspect Enterprise Solutions
Aspect Enterprise Solutions is the leading global provider of web-based, multi-commodity trading, risk management and data management applications with more than 500 customers and thousands of users in 90 countries. It’s the only integrated, all-in-one platform delivered Software-as-a-Service (SaaS) in the Cloud, which enables rapid deployment, controlled costs and immediate ROI. Aspect Enterprise Solutions applications include AspectCTRM®, a full-featured commodity trading and risk management enterprise suite for front, middle and back office. It’s available in 3 Editions: Lite, Standard and Enterprise, seamlessly expanding in functionality according to the needs and budget of clients. AspectDSC is its decision support center for traders offering oil, metals and agricultural market news, prices, futures and analytical tools on desktops and mobile devices including Apple® iPhone® and iPad®, and BlackBerry. AspectPM is its Price Manager solution which provides consolidation and support for the global oil price forecasting process and forward curve management.
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