The three subsidiaries, Petro Singapore Trading PTE, PS Trading SA and PS Oil PTE, a group of petroleum products and petrochemicals trading companies, has chosen AspectCTRM SE (Standard Edition) from Aspect Enterprise Solutions as its backbone solution for trading and risk. In addition to mainstream trade, risk and operations management functionality the system will also be integrated with the group's back-office accounting system.
AspectCTRM was first brought to the group’s attention by a team member who had used the solution with a previous firm. Soon it became obvious to senior staff that Aspect’s Software-as-a-Service (SaaS), Cloud-delivered application offered the key tools needed for the global team's growth.
“From a trading and risk perspective alone AspectCTRM does everything we want and more, and Aspect demonstrated that they were able to deploy and implement their system in a short time, compared with other vendors,” said the group's CFO. “AspectCTRM is flexible and we were able to engineer an accounting interface with the GIT WinEUR general ledger system relatively quickly.”
Another crucial element in the trading group's choice of AspectCTRM was the future addition of new functionality. For example, Aspect recently added enhanced functionality for managing product movement by railcar. This is one more step in the continual evolution of the product line according to Aspect’s EMEA director of sales Yags Savania.
“Our aim is to build in the functionality our individual customers need to run their businesses more efficiently, and so continuously improve and expand our systems,” He says. “We also want to leverage the success of more niche back-office and ledger solutions. They are a perfect complement to our own trade and risk management software and we have proven time and time again the ease with which it integrates with third-party systems.”
Petro Singapore PTE Trading, PS Trading SA and PS Oil PTE are involved in physical trading, financing, risk management, oil derivative trading, hedging, storage and transportation with a strong focus on the Caspian, Black and Mediterranean Sea regions.