Chase Petroleum Ghana Ltd Selects Aspect Enterprise Solutions For Its Trading And Risk Management Activities
June 27, 2011
After careful consideration of several oil trading and risk technology solutions, Chase Petroleum Ghana Ltd (Chase) chose AspectCTRM Standard Edition (SE), to manage its oil trading and risk management operations. The flagship solution from Aspect Enterprise Solutions Enterprise Solutions (AES) is the only Web-based multi-commodity trade and risk management system for front, middle and back office professionals, delivered in the Cloud.
Chase, an oil trading and distribution company specializing in trading crude oil and bulk refined products between Africa and Europe is active in transportation, storage and distribution of petroleum products.
AES’ AspectCTRM SE was selected after other vendor systems and in-house options were investigated. The high cost and long deployment timeframes from software vendors which required hardware, software and maintenance made AES the preferred choice. Because all AES solutions are deployed via the Web, it takes days or weeks to implement rather than months or years like older software technology. Because they’re delivered in the Cloud as a service, the costs are predictable with monthly subscription fees per user.
Kwasi Deh, head of commercial at Chase says “AspectCTRM was the best option for us. It matched our requirements exactly and we were already familiar with AspectDSC so it was so easy to move across.”
AspectDSC is the Decision Support Center from AES, which delivers futures prices from leading exchanges including ICE and NYMEX, and spot prices from Platts and Dow Jones. It integrates with AspectCTRM for convenient pricing of trades on the same platform.
Moving from individual spreadsheets to an enterprise-wide CTRM system was essential to keep track of trades and allow visibility across the company with users travelling regularly. AspectCTRM is fully Web-based so it can be accessed from anywhere with an internet connection.
Robert Batong-Hor, finance manager at Chase adds, “The mobile access is important to us as we travel a lot and need to share data wherever we are. With Aspect Enterprise Solutions we can aggregate our activities across the company in real-time.”
AES’s minimal implementation timeframe meant that Chase’s master data was loaded into the system and they were running and fully operational just one week later, meaning no ‘down-time’ for traders and the benefits of the solution were evident immediately.
Yags Savania, sales director EMEA at AES explains, “AspectCTRM SE was the perfect solution for Chase. Having been AspectDSC users for some time it was simple to scale up to the CTRM system and start experiencing the benefits of a full trade and risk management solution in a very short time frame. The easy remote access suits their travel commitments, and there is room to scale up further as their needs change and their business grows.”
About Aspect Enterprise Solutions
AES provides Web-based enterprise class market information, trade and decision support tools for commodities professionals. Its solutions are trusted by over 500 corporations in more than 90 countries. 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® which is recognized in Gartner’s Magic Quadrant of ETRM Systems. It’s 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®, BlackBerry and Android. 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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