The analyst note titled âTriple Pointâs European Success Story,â states that between 2007 and 2008, Triple Point increased its European revenues by 103% and has continued to sign new customers in Europe since January 2008 including Nidera, Evonik, Agroethanol, Electrabel, RWE, Klesch & Company, Vertical, SOCAR, Tullow and Hellenic Petroleum. Additionally, Triple Point has grown its European staff by 154% and doubled the size of its London office to accommodate expansion.
âTriple Point has been remarkably successful at establishing itself as among the most widely recognized and successful commodity trading and risk management software vendors in Europe,â remarked Dr. Gary M. Vasey, general manager, CommodityPoint. âThe software companyâs success is largely attributed to key acquisitions that expanded its product suite across counterparty credit and regulatory risk management, a valuable alliance with SAP and the addition of key staff to support local clients and drive expansion.â
CommodityPoint based its analyst note on a â2009 TRM Vendor Perceptionâ study that asked 62 qualifying respondents for perceptions of market leadership by functionality, commodity coverage and industry segment, as well as unprompted and prompted vendor brand recognition.
âTriple Point is pleased to have affirmation of its European growth and success from a well-respected analyst firm,â said Michael Schwartz, chief marketing officer, Triple Point. âThe European market is a key segment for Triple Point, and weâll continue to invest in leading technology and talent to support our clients in the region.â
CommodityPoint is a division of leading energy and utilities analyst and consulting firm, UtiliPoint International, Inc., and provides Commodity Trading & Risk Management (CTRM) research, analysis and consulting services.