With over 500 clients and thousands of users globally in market data and trading and risk management Cloud solutions, Aspect Enterprise Solutions is expanding further into the Americas market with the addition of 30-year industry veteran Michael Cox.
Cox, whose experience spans Refining and Marketing, Natural Gas and Crude Marketing, and Petroleum Supply chain Management roles both on the vendor and client side, has joined Aspect as head of sales and business development to fuel Aspect's continued growth in the United States and Canada. Aspect’s customer base for commodities trading and risk applications has grown by more than 43% the past two years adding dozens of new customers and hundreds of users globally, including in the United States.
The addition of Cox, along with plans for new U.S.-based pre-sales, support and sales representatives for its AspectDSC Market Data and analytics portal, which sits on the same platform as AspectCTRM, signals a shift in demand for Cloud solutions by companies in commodities sectors.
After working for competing ETRM/CTRM companies Triple Point and Open Link, Cox says he chose Aspect for its unique and advantageous Internet-based approach and ability to change the industry forever with its Cloud solutions and the many benefits they offer.
“Unlike the traditional ETRM software companies I’ve spent many years working for, Aspect offers an exciting, forward- looking solution for solving business challenges, while at the same time containing risks, and run-away system costs for licenses and implementation,” says Cox.
Cox went on to say, “The world has changed in the way it does business, particularly with the Internet. And traditional software companies are no longer the answer – Aspect is. And I wanted to be a part of this change. We have customers using AspectCTRM with as few as 3 traders, to as many as hundreds. It opens an untapped mid-tier market which needs the same tools as larger companies, but before now could not afford them.”
These markets have been largely under-served and ignored by the traditional ETRM software vendor for years. Aspect has changed all of that now.
With Aspect, because solutions are deployed Software-as-a-Service (Saas) in the Cloud, there is no software to install, and no hardware or maintenance fees. Implementation is swift, taking only a few weeks to configure trades and processes in the system. Aspect’s Web-based trade, risk, operations, inventory and logistics components are all accessible via a secure online platform that is accessed from any Internet location.
Aspect is riding a paradigm shift for trading and supply companies with affordable, powerful solutions and technology built for today’s real-time processes.