Cloud E/CTRM provider Aspect has signed its second new major E/CTRM customer in the Middle East within three months in what the company is describing as a warning for big traditional vendors of legacy solutions. In a market where the big players once dominated, they are now feeling the pinch claims Aspect as the strengths of cloud vendors – with agility, flexibility, better risk management and subscription-based opex over capex pricing models – become more important to customers.
The latest deal for Aspect is with the Dubai-based, MENA Energy which offers a broad base of services including energy trading and shipping. MENA Energy considered traditional software/hardware solutions alongside Aspect but chose the latter’s cloud based offering.
“MENA liked the extensive discovery process we conducted with them and the depth of understanding we were able to develop in their business as a result,” says Aspect’s sales manager Middle East, Fieras Freijieh. “It’s interesting how in this market it used to be the smaller vendors who worked in the shadow of the big players. Now we’re seeing a 180-degree turnaround as customers increasingly value the benefits that emerging players with leading technology can deliver.”
MENA Energy has signed up for the AspectCTRM standard edition teamed with the company’s AspectDSC market information and analysis product. Together the two make a formidable trade and risk management toolset which will be fully implemented, including data migration from MENA’s previous solution, within three months.
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).