Ovlas Upgrade Deal Heads AspectETRM Surge In West Africa
December 1, 2009
Ovlas SA, a subsidiary of West African downstream petroleum conglomerate MRS Group, has become the third regional trading house in two months to adopt AspectETRM, the software-as-a-service (SaaS) -based trade and risk management solution from Aspect Enterprise Solutions Enterprise Solutions.
The Ovlas move to AspectETRM, following Cirrus and Linetrale, underscores the unique way in which Aspect’s Web-delivered solution is enabling regional players to meet the particular risk, reward and financing challenges of the fast growing and complex West African market.
The deployment is the latest step in a relationship between Ovlas and Aspect Enterprise Solutions that began in 2003 when the then just-created trading house chose Aspect’s OILwatch global energy and commodity information service. Five years later, as its trading volume passed two million metric tons, Ovlas upgraded to Aspect’s TradeFlo, adding P&L and VaR to real-time market prices.
“Moving from OILwatch to TradeFlo and now AspectETRM has been a natural progression for us.” says Jerome Arbet-Engels, Ovlas. “West Africa is a vibrant market, but to be successful it requires us to have end-to-end visibility of inventory and an ability to share that knowledge enterprise-wide. Aspect’s right-for-purpose solutions and its commitment to the West African market are significant elements in the strategy to grow MRS Group into a long-term major regional player.”
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 often fail to effectively scale downwards to support smaller trading operations. Even in a large scale fully end-to-end implementation, key elements of AspectETRM, 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.
Ovlas operates throughout Africa, Europe and North/South America, and is also active in the regulated and non-regulated derivative markets.
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