Aspect Releases Cloud-Based Shipment Tools For Physical Oil Trading Companies

London - 19 July 2012

Aspect Enterprise Solutions, a provider of multi-commodity trading and risk management Software-as-a-Service (SaaS) applications delivered in the Cloud, unveils enhanced oil and petroleum products shipping features to its AspectCTRM Physical Operations Module.

Over the past year, Aspect has released several new and enhanced features to its established trading and risk management platform, AspectCTRM, including inventory management and storage functionality.

AspectCTRM offers a series of Work Benches which allow users to move through the application in a user-friendly way, while performing operations tasks such as tracking inventory in and out of terminal, and in-transit -- while understanding the impact movements have on profit and loss.

With the new Shipment Workbench, users can schedule and nominate shipments and view the status as they progress through their life cycle with graphical displays and shipment plans. Other features include: Support for demurrage claims, tracking and reporting of shipment losses, load/discharge operations, and more. Users are able to plan product movements between shipment modes of transportation including cargo, railway and trucks.

"Our customers welcome the changes and additions we've made over the past year," says Aspect CEO Steve Hughes. "We've long been known for our market strength in terms of real-time reporting of risk and P&L. But it's our latest improvements in the areas of physical operations that are really helping our customers manage their total business. There's so much money that can be lost in the movement of product, and now they have visibility throughout their supply chain, so they can reduce those risks."

Aspect's further releases will feature extended functionality and support for pipeline transportation, rail car, blending, physical support for metals and other commodities.

Aspect is the first wholly Cloud-based solution of its kind to offer true end-to-end processing for oil trading firms and other commodities companies trading metals, steel, biofuels, coal, etc. It integrates front office trading, middle office storage and physical operations, with back office business and financial operations into one system. Its market data, trading, risk and physical operations are integrated on one platform and allow integration through APIs with homegrown solutions, and 3rd party applications such as SAP, Oracle and others.

To add new functionality, user organizations simply need to upgrade their existing subscriptions, and Aspect turns on the functionality. There's no software to install, so new users and new functionality are added easily and quickly. AspectCTRM's other modules include Trade Management, Risk Management and Financial Operations.

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