Enuit sees ETRM and CTRM inquiries up 300% this year
- Feb 23, 2022
- 3 min read
Last week our COO, Ganesh Natarajan, met with Gary Vasey of ComTech Advisory to discuss how Enuit is doing in the current market and what trends he see.
Below is an extract from Gary's original related post on www.ctrmcenter.com
I had a catch-up recently with Ganesh Natarajan of Enuit to see how things were going and get some insights into how he sees the market. Along with many others, he is seeing quite a lot of activity in Europe as various entities are looking to potentially procure CTRM software. “We see a lot of inquiries in and around power, especially from eastern Europe and also in ags and softs for commodities like frozen meat, dairy, poultry, and so on,” he told me. In the latter case, it seems the interest is with Enuit’s Entrade Unite Commodity Management software and is focused more on moving and managing the materials rather than trading and risk. Enuit is seeing this in other regions also. “Beyond power trading, we also see a lot more interest in carbon credits – end users are asking what capabilities we have there,” he said. Enuit’s marketing head, Mark Tredway, also on the call noted a 300% increase in inbound inquiries so far this year!
Commodity Technology Advisory has talked about these trends and factored them into CTRM market growth expectations in its recent Market Sizing update. We have been pointing to what we term unlisted commodities as an area of growth. These are commodities that essentially have no derivatives and are physical only. There are many of these commodities from nuts and vegetables to meats and dairy in which the supply chain has become increasingly important along with operational risks and optimization of costs. We expect further growth in these markets for CM and CTRM software.
Ganesh also has global responsibility these days for sales, presales, delivery and support and he was keen to tell me about Enuit’s increasing delivery capabilities in India especially. Enuit has found some good opportunities there as well working with Indian oil majors who are interested in acquiring an ETRM. “This is a new market for us, and we are looking to expand there,” he said.
While the sales pipeline is full and they are very busy, so far in Q1 nothing has yet closed although he anticipates some news soon. Meanwhile, late in Q4, Enuit won a major Eurasian client trading oil, refined products, and petrochemicals internationally and domestically. As a consequence, they are busy on that project and others sold last year. This includes an LNG/Coal project with a larger German utility as well, he told me. Enuit continues to grow and has added 2-3 new staff in Europe and around half a dozen in India to cope with new business.
We also touched on the power opportunities where many are related to renewables and ‘clean’ energy. In common with other vendors, he sees a lot of smaller new entrants now growing and looking to get into a ‘trading mindset’. Finally, a number of very large Commodity Management opportunities are in the market as well as a result of a major vendor ending the life of an earlier version of its software and forcing migration to a new one. While intriguing, some are so large that Enuit is having to evaluate its ability to service them, he told me.
The original blog can be found here: https://www.ctrmcenter.com/blog/vendor-news-blog/enuit-sees-inquiries-up-300-this-year-to-date/
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