In the past trading houses had only two options: spreadsheets or big-budget custom software development programs. Now SaaS-delivered solutions combined with Cloud Computing offer a real, cost-effective alternative. With the global economy, regulatory environment and credit shrinkage increasingly mandating formalized systems for even small trading companies, SaaS offers fast-start, turnkey solutions without up-front investment or resource demands.
Steve Hughes
President & CEO
Aspect Enterprise Solutions
Cloud-based applications — aka Software as a Service (SaaS) — have seen steady growth over the past few years and will continue to grow.
Gartner, Inc., Cloud Computing: The Next Generation of Outsourcing, Ben Pring, November 1, 2010

According to Technology Research Analyst Firm Gartner…

We are in the midst of a fundamental shift, as more enterprises start to use services enabled by cloud technologies. This will heavily impact IT services providers, who must now consider strategies for coping with profound changes in the marketplace or risk being left behind.
Cloud Computing:
The Next Generation Of Outsourcing
Ben Pring, November 1, 2010
According to Technology Research Analyst Firm Gartner…
Increasingly, hosted or SaaS-based solutions are gaining favor among end users as a means of reducing capital costs, deployment times and support overheads. While traditionally these solutions were preferred options for smaller end users or end users with limited functional requirements, as the functional capabilities of SaaS - or application service provider (ASP)-based deployments grow, the appeal to larger organizations will widen.
Magic Quadrant For Energy Trading And Risk Management Platforms
Keith Harrison and
David Furlonger
March 18, 2011
AspectCTRM was installed and working for us so fast – quickly enabling us to get a real-time understanding of profit and loss, exposures, price movements in the markets and how we can better manage risk.
Peter Malcom King
Business Development & Strategy Manager
Linetrale Oil Supply & Trading Company, Nigeria
We like to do things differently at Aspect. We showed that with our open pricing policy back in 2011. Now we’re challenging another industry norm by developing a revolutionary set of embedded tools that will empower customers, or their choice of third party consultant, to do that essential final part of the deployment and make whatever changes they want thereafter.
Steve Hughes
President & CEO
Aspect Enterprise Solutions
This is just the beginning. We've hired a new team in our newly formed partnership division whose job is to identify key companies that meet our strategic partner goals for selling, deploying and supporting AspectCTRM solutions. This group will leverage the lengthy development work we've done over the past several years for our AESthetics project, which will allow our deployment partners the ability to learn, configure and deploy our solutions as quickly as we can, in just a few weeks. There's huge cost efficiency savings in this.
Steve Hughes
President & CEO
Aspect Enterprise Solutions

News

Aspect Enterprise Solutions Targets Africa's Oil Distribution Sector With Customized Cloud Technology

Moving to target the burgeoning downstream oil distribution sector throughout Africa, Aspect Enterprise Solutions today underscores how the core functionality at the heart of its AspectCTRM trade and risk management system can help specialist African oil bulk distribution companies (BDCs) make more profit with less risk on every deal.

Aspect’s Software-as-a-Service (SaaS) commodities trading, risk and market data applications delivered in the Cloud already dominate the BDC market in West Africa. Now the company is gearing up for a push into Central, East and South Africa where the challenges are the same.

BDCs occupy a vital position in the African oil supply chain, buying from large suppliers such as Trafigura or BP then storing, selling and onward shipping, typically by road tanker, to oil marketing companies. It sounds like a simple process but in truth it is a complex one. Profit margins are inextricably bound up in international market pricing, government subsidies, ever changing storage and transportation costs, in-transit losses and other factors. Effective trade and risk management tools are crucial to tracking deals, containing costs and maintaining profitability.

Many BDCs currently rely on standard office spreadsheets to manage their trading positions. But inherent weaknesses in contemporary spreadsheet software can lead to reduced profitability and at worst, losses.

Spreadsheets for example, while allowing businesses to easily create reports and calculate numbers, make it very difficult to reconcile data between different departments and different worksheets. Valuing cargos in transit or in storage is also prone to error when spreadsheets are used and when such values depend on external market indexes like Platts from McGraw Hill Financial.

Spreadsheets also have difficulty with the large volumes of data typically generated within BDCs. For example with a typical road tanker load at 30MT and a typical monthly bulk purchase of 30,000MT, more than 1,000 separate transactions will take place every month.

AspectCTRM solves all of these problems with multi-user, multi-department support, no limits on data size and access to real-time market prices and data from across the world.

Built expressly for oil distributors and traders, it makes none of the compromises of spreadsheets and includes all of the tools oil specialists need to do their jobs. An optional physical operations module further allows transportation and storage functions to be integrated, helping avoid losses in transit and minimizing storage costs.

With complete visibility of purchases, cargos in storage and in transit, progress of ongoing trades and profit on completed sales, AspectCTRM gives managers complete business oversight and enables compliance and auditing. These can be invaluable when companies are seeking finance for further purchases or for business expansion.

All documents related to individual trades are stored securely in the Cloud where they are available to all authorized users anytime, anywhere without reliance on internal IT systems.

Traditional packaged software, managed service and ASP alternatives have proved to be costly to own, difficult to implement and maintain, and hard to use. Aspect’s Cloud-based solutions require no software to be installed, need little or no on-site support or IT resource, and have an easy to use Web interface. Any fixes or updates are carried out by Aspect once at its own facilities and then are reflected immediately at all user sites.

Among the more than 60 West African companies using Aspect is Sage Petroleum of Ghana where CEO Emmanuel Egyei-Mensah says: “We chose AspectCTRM to manage and support our activities. It gives us real-time insight into all aspects of our business including stocks, logistics, finance, profitability and risk exposure. Our philosophy is to actively identify risks, obtain information about the risks and manage them effectively. That is our culture, which runs through everything we do.”

To learn more, read an exclusive executive brief, “Increasing Profit And Reducing Risk For Bulk Distribution Companies In Africa,” by visiting this link https://www.aspectenterprise.com/solutions/aspect_ctrm/1314_africa_wp.php .

About Aspect Enterprise Solutions

Aspect Enterprise Solutions www.aspectenterprise.com is a leading global provider of Web-based, multi-commodity trading, risk management and data analysis applications with almost 500 customers and thousands of users in 90 countries. The Aspect family is the only integrated, all-in-one platform delivered as Software-as-a-Service (SaaS) in the Cloud, which enables rapid deployment, controlled costs and immediate ROI. Applications 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, seamlessly expanding in functionality according to the needs and budgets of clients. AspectDSC is the 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®, and BlackBerry. AspectPM is the Price Manager solution which provides consolidation and support for the global oil price forecasting process and forward curve management.

Media Contact
Brigette Gebhard
Aspect Enterprise Solutions
+1 347-328-0396
bgebhard@aspectenterprise.com