Last week our VP of Services, Robert Balinski, met with Patrick Reames of ComTech Advisory to talk about Enuit success over the last year.
Below is an extract from Patrick's original related post on www.ctrmcenter.com
We recently caught up with Robert Balinski, VP of Services for Enuit, the Houston based vendor of ETRM/CTRM/CM solutions for the global commodities markets.
Enuit has been one of the more successful vendors in the space over the last couple of years, showing particular strength in the Asian and US markets. According to Robert, that success has continued this year as he noted they have about a dozen implementations currently underway, with four go-lives since the first of the year. This high activity level has been fueled by the company’s success in selling their Entrade product in the European, Asian and US markets.
When asked about what markets/commodities have been particularly successful for the company, Robert noted that in Europe, the deals they have competed for have primarily involved natural gas. In Asia, LNG and liquids have been particularly active; and in the US, it’s been multi-commodity deals spanning energies, with a focus on refined products and NGLs.
Robert also indicated Enuit is seeing increasing interest in metals and has been expanding their functional coverage of the various metals markets. Working with several of their customers, he noted they have grown their capabilities to cover metals warehouse accounting, copper concentrates, and cold rolled steel.
He also told us that Enuit has recently added the ability, via a plugin, for their customers to use Python to create and manage custom, complex pricing formulas. This is an expansion of their already well-established capabilities to manage complex pricing natively in the system, including rich pricing capabilities for metals concentrates. He also noted that they have used a similar approach to better enable their clients to extend Entrade’s native BI capabilities for those customers that wish to use third-party BI tools.
Turning back to implementations, Robert said that about two-thirds of their current implementation work is being done remotely. Though the pandemic (which catalyzed remote working) has begun to wane globally, he indicated it is a trend that he expects to endure in the future. “I think given the cost efficiency of remote implementations – less travel and housing costs, more efficient use of time – we are going to continue pretty much as we are today. While some aspects of implementation projects, particularly initial scoping activities and user training are best done on-site, we think most of the other implementation activities can be accomplished – without any loss of efficacy – via the web. All told, it is a more efficient and cost-effective approach for our customers.”
Clearly Enuit has continued to enjoy significant market momentum and is supporting that momentum by continuing to invest their product capabilities and commodity coverage (including into ags) to grow their market reach. Though the market for ETRM, CTRM and CM solutions has certainly improved since the near collapse in the first half of 2020, it does appear the Enuit is winning more than their “fair share” of the opportunities in which they compete.
The original blog can be found here: https://www.ctrmcenter.com/blog/vendor-news-blog/enuit-an-active-year-for-ctrm-implementations/
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