AspectCTRM is removing the risks from our customers' businesses which is what a trade and risk system is supposed to do, says Aspect President & CEO, Steve Hughes
Houston, TX (PRWEB) December 15, 2015
Over the past 15 years a lot has changed in terms of technology, including the understanding and acceptance of the cloud, as evidenced by a recent Commodity Technology Advisory (ComTech Advisory) research project. Results of this project are published in a 7-page report “Evolving CTRM In The Cloud” which can be downloaded here http://www.aspectenterprise.com/resources/analyst-survey-evolving-ctrm-in-the-cloud/.
Against a backdrop of rising costs and decreasing margins and a requirement to comply with a variety of regulations, CTRM in the cloud has found a broader appeal in a cost-conscious market and is rapidly gaining ground.
In the report, ComTech Advisory revisits the pros and cons of the cloud for CTRM deployment from an original 2014 survey. The advantages refer to lower total cost of ownership, lower entry costs and lower implementation costs combined with some efficiencies in terms of demand on IT resources and speed of upgrades and deployment.
Meanwhile, data security was among key concerns cited for why some trading shops might not procure CTRM in the cloud. But there is a tipping point at which the cost and efficiency gains outweigh the concerns side of the equation. Since the survey was performed, the basic dynamics of the industry have significantly and permanently changed perhaps moving the tipping point in favor of cloud as witnessed by leading cloud trade and risk management solutions vendor Aspect, which was the first to deliver ETRM software over the Internet in 2000.
“Back in 2000 security was the main barrier we faced when talking to large trading houses. The question of data safety was number one on our prospect’s list of concerns. Fast-forward to 2015, and we’re having our best year ever, with trading houses big and small relying on our solutions every day for their mission critical trades and supply chain activities. We’re removing the risks from their business which is what a CTRM system is supposed to do,” says Aspect President & CEO, Steve Hughes.
Hughes went on to say, “Since the recession of 2008, Aspect’s business has taken off, largely due to our advancements in technology, improvements in our supply chain functions such as logistics and inventory management, and the low cost of entry to deploy and leverage AspectCTRM company-wide. This study supports our financial results, and the industry’s thirst for cloud CTRM can only get stronger, as the world demands Internet-based solutions for everything.”
Download the 7-page report here (http://www.aspectenterprise.com/resources/analyst-survey-evolving-ctrm-in-the-cloud/) to find view survey results of the advantages and disadvantages cited by respondents. Learn why ComTech Advisory suggests that concerns in security will be eased, and ComTech’s estimated growth rates for cloud CTRM.
Also see Aspect’s release on “Any Cloud” (http://www.aspectenterprise.com/pick-a-cloud-any-cloud-aspect-unveils-flexible-cloud-ctrm-hosting-strategy/) and how Aspect is further evolving choices for clients with flexible cloud hosting offerings including public cloud by providers such as Amazon, Microsoft and Google.
About ComTech Advisory
Commodity Technology Advisory (ComTech Advisory) is the leading analyst organization covering the Energy and Commodity Trading and Risk Management (E/CTRM) technology markets. Led by Patrick Reames and Dr. Gary M. Vasey, ComTech Advisory provides invaluable insights, backed by primary research and decades of experience, into the issues and trends affecting both the users and providers of the applications and services that are crucial for success in markets constantly roiled by globalization, regulation and innovation. For more information, visit http://www.comtechadvisory.com
Aspect is a leading global provider of multi-commodity trade, risk and operations management applications delivered Software-as-a-Service (SaaS) in the cloud. With almost 500 customers in 90 countries, it’s one of the fastest growing providers with rapid deployment, affordable subscriptions, and immediate ROI for all size companies. Solutions include AspectCTRM®, a full-featured commodity trading and risk management enterprise suite for front, middle and back office. It’s available in three editions: Lite, Standard and Enterprise, expanding in functionality according to the needs and budgets of clients. Aspect is the only ETRM/CTRM solutions provider with market data and analytics tools delivered with its trade and risk functions on the same platform. This provides users with a seamless packaged solution beginning with pre-trade pricing analysis and market assessments via AspectDSC. Aspect’s solutions are available on desktop, tablets and mobile devices and through its new Aspect Partner Program (APP).