Ctrm Software – The risks and costs of implementing commodity trading and risk management (CTRM) software are very different than they were 10 years ago, but the investment and importance of the solution is just as important.
Software projects start with the best of intentions, but a lot can go wrong. Back in the day, there were more ways to fail because ETRM / CTRM solutions were custom built and installed over many years. ROI was hard to come by and many times oil and gas companies never realized the benefits and full potential they signed up for.
There is a lot of data about failed software and IT programs and why they fail. Some previous studies put IT project failures at 50% and ERP systems even higher. Today, the risk of failure is much less due to the completely changed landscape of software as a service (SaaS) and cloud solutions that have shorter development time frames and much less customization through development coding.
Legacy Ctrm Costs Time, Creates Lost Opportunities
46% of CIOs say one of the main reasons IT projects fail is poor project ownership, and 40% of CIOs attribute failure to unclear goals. (
Most IT projects have three constraints: time, scope, and budget. Regardless of the type of software or IT project you are embarking on – and this is certainly the case when choosing ETRM/CTRM solutions, success and failure are highly dependent on early stage requirements planning and analysis. So you don’t want to skip this plan.
When users and sponsors leave the company, projects are left in chaos unless you have an adoption plan. Make sure the software selection team includes internal staff support, stakeholders, sponsors and super users who are all important to ensure that usage and buy-in slows or stops. No one stays with one company forever, so renew your sponsors. Use a “train the trainer” approach where your experienced users pass on their knowledge and build a strong, talented pool of users who are committed to your organization. For smaller companies, it’s even more difficult. Identify 1 or 2 users from operations, business support and finance to ensure the design stays alive and your solution continues to grow.
Fortunately, SaaS solutions make these types of projects much less risky than they used to be. Gone are the days of 2-year deployments where scope creep destroys schedules, hits budgets, and leads to failed deployments that cost companies millions and software decision makers their jobs.
Erp For Commodity Trading & Risk Management
Read and download the complete CTRM Software Selection and Adoption Checklist and use it.
Now do your homework and get started with the IGNITE CTRM demo. Start answering key questions about how IGNITE CTRM fits your business and risk needs.
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How Molecule Enhanced Their E/ctrm In 2019
To request a demo that demonstrates the capabilities of IGNITE, please fill out this form and one of our customer service representatives will be in touch shortly. In today’s fast-paced and dynamic business environment, companies must stay ahead of the competition by adapting and updating their operations. Decisions. One of the critical tools companies can use to achieve these goals is Commodity Trading and Risk Management (CTRM) software. CTRM software enables businesses to systematically and efficiently manage the entire commodity trading process, from procurement and negotiation to logistics and settlement.
If you don’t use CTRM software or feel your current solution is unsatisfactory, it may be time to invest in a new solution like Fusion. Here are ten reasons why your business needs new CTRM software:
One of the main benefits of CTRM software is improved performance. With a centralized platform for business and logistics management, your team can work more efficiently and collaboratively. Fusion CTRM software simplifies processes, reducing the time and effort required to manage transactions while providing real-time information on the status of each transaction.
Effective risk management is critical to successful commodity trading. CTRM software helps businesses identify, measure and manage risk more effectively. Fusion CTRM software features comprehensive risk management functionality, including exposure monitoring and limit monitoring, enabling businesses to proactively manage their risk exposure.
Ways To Use Ctrm Software For Day To Day Commodity Risk Management
CTRM software gives businesses the tools they need to make informed decisions. Fusion CTRM software has powerful analytics capabilities that provide real-time insights into business conditions and market trends. This information can be used to make better informed decisions about when to buy, sell or hold goods, reducing the risk of loss.
CTRM software gives businesses greater visibility into their business operations. With a central platform to manage all trading activities, businesses can easily monitor the status of each trade and monitor the performance of individual traders. Fusion CTRM software has extensive reporting capabilities, allowing businesses to generate detailed reports on their business operations.
Compliance is an important factor for commodity trading companies as they are subject to a range of regulations and reporting requirements. CTRM software can help businesses manage compliance more efficiently by providing automated reporting and real-time visibility into regulatory requirements. Fusion CTRM software features comprehensive compliance functionality, enabling businesses to effectively manage compliance.
Manual transaction processes are prone to errors, which can be costly for businesses. CTRM software can help reduce the risk of errors by automating trading processes and providing real-time visibility into trading positions. Fusion CTRM software has a powerful reconciliation engine that helps quickly identify and resolve discrepancies.
From Complexity To Clarity: How Ctrm Software Simplifies Compliance For Commodity Traders
As businesses grow, their business operations become more complex. CTRM software can help businesses manage this complexity more effectively by providing a scalable platform for managing business operations. Fusion CTRM software is highly scalable and can support businesses of all sizes.
Effective collaboration is critical to successful commodity trading. CTRM software provides a centralized platform for managing business activities, allowing teams to work more collaboratively. Fusion CTRM software has built-in collaboration tools, such as messaging and task management, that make it easy for teams to collaborate.
In commodity trading, timing is everything. Real-time data is essential for making informed decisions about when to buy, sell or hold commodities. CTRM software provides real-time data on trading positions, market trends and other relevant information. Fusion CTRM software has powerful analytics capabilities that enable businesses to analyze data in real-time and make informed decisions faster.
Finally, CTRM software can give businesses a competitive advantage. By streamlining business processes, reducing risk and providing real-time information, businesses can gain a competitive advantage over their competitors. Fusion CTRM software is a complete solution that gives businesses the tools they need to stay ahead of the competition.
The Importance Of Ctrm Software In Us Natural Gas Trading
In conclusion, investing in new CTRM software like Fusion can provide businesses with many benefits, including improved performance, improved risk management, better decision-making capabilities, greater visibility, improved compliance, fewer errors, increased scalability, improved collaboration, real-time . data and competitive advantage. If you want to optimize your commodity trading, it’s time to consider investing in a new CTRM software solution.
Technology is a rapidly growing global CTRM software and consulting company with a dedicated team of over 250 employees with offices in the US.
Contact our team below if you would like to know more. Contact us directly at info@
July 5, 2022 – Utah, USA Sawtooth Caverns LLC (Sawtooth), Largest Natural Gas Liquids (NGLs) Storage Facility
Ion Commodities Wins Ctrm Software House Of The Year Award
January 2023 – Cometa Selects Fusion CTRM Solution. The main office is located in Geneva, Switzerland. Cometa’s core business is merchandise
Natural gas is one of the most important sources of energy in the United States, and its business is critical
Ctrm Solutions, 2022: Market Update And Vendor Landscape
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