AspectETRM Trade/Risk Management System First Choice For Africa’s Cirrus Oil

October 7, 2009

Forward-looking African petroleum supplier Cirrus Oil of Ghana is aiming to become more efficient and better informed with the latest automated energy trade and risk management (ETRM) system from Aspect Enterprise Solutions Enterprise Solutions.

By implementing AspectETRM across its in-house trading team Cirrus will see operational time savings and gain access to more up-to-date market information. In turn this will bring better profitability, better feedback for Cirrus’ own customers and allow the company to grow its business still further.

AspectETRM is replacing an earlier system built on Excel and which Cirrus found complex and cumbersome. In contrast, AspectETRM offers easy-to-understand screens and allows a high degree of customisation to suit the exact needs of its users. Being software-as-a-service (SaaS) based means it is also fast to implement and simple to support.

“For the functionality we need AspectETRM offered the best solution for the lowest cost of ownership,” explains Cirrus director of trading, Emmanuel Egyei-Mensah. “We particularly like that it’s also very flexible and fits in with how we work. Indeed we expect soon to be integrating it with our existing loading management system, giving us yet more control.”

With more than 1,000 trades taking place every month, Cirrus is one of Ghana’s leading importers and suppliers of petroleum products to oil marketing companies and other bulk distributors. It owns and operates its own petroleum terminal which can store and load gas oil, gasoline and aviation fuel.

AspectETRM is a unified solution for traders, risk managers, operations staff and back-office personnel that supports a wide range of functions from trade capture, managing positions, viewing exposure and analysing risks through to accounting. It is entirely Web-based so requires no additional hardware beyond existing desktop systems and mobile devices.

It uses On-Line Analytical Processing (OLAP) technology to enable ‘slice and dice’ reporting for quick data analysis and can be integrated with the AspectDSC market data platform to stream pricing and analytical information.

Aspect Enterprise Solutions Enterprise Solutions provides enterprise class market information, trade and decision support tools for energy, metals and commodities professionals. The company delivers near 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 – including nine out of ten of the world’s largest – 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.