Aspect Enterprise Solutions Touts Almost 50% Growth Last Year For Cloud CTRM Software
In a year when many older, traditional software solutions in the commodity trading and risk management space struggled to re-engineer software and upgrade clients, Aspect Enterprise Solutions inked deal after deal for 49.7% year-over-year growth in software bookings.
Aspect touts a long list of new clients including Manoir Energy, Prax Petroleum, Peninsula Petroleum, SwissChemGas, Avra, Socar, Tamoil Overseas and Zenrock. Clients include start-ups, to mid and large size global trading companies.
In Q4 alone, Aspect booked more than US$4.2M in revenue for its best quarter of the year, signing 6 new clients, many from its Singapore office covering the Asia-Pac region where interest is high. Many existing clients have also expanded their footprint with Aspect for more integrated trade and risk eco-systems.
AspectCTRM continues to be the game changer in a transformed world where business and consumer demands are high for “instant delivery” “instant pick up” and “instant gratification” in a “get it now culture”. Online retailers like Amazon and big brand retail stores have forever changed the world’s expectations.
Aspect has become the Amazon of trade and risk solutions with deployments of fully loaded, professional multi-commodity trade and risk management software that can be configured and deployed in as little as two weeks. Gone are the 2-year implementation periods of yesterday’s ETRM systems, a direct credit to Aspect’s cloud software, and approach to understanding and solving client challenges.
Multi-tenant cloud architecture is the way forward, and Aspect’s competitors know this. Many have put the word cloud in front of their software, but it’s not true cloud. They are just apps hosted in the cloud. They are still one version of software for one client, not one version for dozens of clients like AspectCTRM. One version of software creates unlimited scalable benefits including instant upgrades to all clients. (See multiple benefits here http://www.aspectenterprise.com/blog/multi-tenancy-powers-cloud-etrm-ctrm-solutions/)
Aspect won just about every award last year – including and fittingly – Finance Monthly’s Game Changer Award for the CTRM Software Company of the Year, and Energy Risk’s Americas and Europe awards for top CTRM Software.
According to Aspect CEO Steve Hughes, tremendous growth and interest in Aspect trade and risk tools can be attributed to great work ethic and experienced staff. “I’ve been with Aspect for 13 years. When I look around the room, I’m amazed at the talent. We have the most knowledgeable, hardworking team of experts in the industry.”
The big news for 2017 was of course Aspect being acquired by new parent company ION Investment Group. With Aspect and ION together, Aspect gains resources, products and synergies in the marketplace that are expected to create new, expanded opportunities under a multi-branded sales approach.
Aspect also broke through with its first wins from its Aspect Partner Program (APP) (http://www.aspectenterprise.com/partners/) with consulting firm Principia bringing in two new significant deals to close the year. APP was designed to build an external sales channel as well as increase implementation capacity.
Fresh off its annual strategy sessions in Cyprus, Aspect looks to be poised for another big year. (See blog here http://www.aspectenterprise.com/blog/aspect-kicks-off-2018-cyprus/).