Enuit has seen growth in all areas in 2020 so far according to Ken Han, CEO. It has opened new offices in Shanghai, China – in addition to its office in Beijing – and also in Tokyo, Japan, where it sees growth and potential in areas like LNG, retail power and bulk commodities, he told me.
In Europe, where it opened an office in London, last year, it has also been growing adding customers, staff and Systems Integration partners. The story in Asia-Pacific is similar with Enuit signing several new customers, particularly in LNG and metals. While the US market was sluggish in the first half of 2020, Ken has seen an improvement in the second half of the year to date. “We see opportunities in areas like refined products due to price volatility, LNG and metals domestically,” Ken told me. India is also an area of investment for the firm.
On the product side, Enuit has built out an entire Commodity Management (CM) suite of functionality in recent years where it “worked with companies like Cargill and similar to expend our footprint into the CM software market. We think that we are now strongly differentiated as Entrade reacts to events and calculates the impact in real-time,” he said. Indeed, Enuit has built out a complete set of ERP-like functionality to add to its CTRM capabilities and now offers a fully-fledged CM solution. Things like a delayed payment or delayed shipment trigger recalculations of position in real-time ensuring that users are always aware of impacts of supply chain and other issues. Ken also expects to see a replacement market for CTRM developing and he expects Enuit to continue to grow through a combination of satisfying the replacement and CM software markets needs.
On the technology side, Enuit is also busy apparently. Entrade 7.0 was started in 2019 and represents a complete rewrite using a .Net multilayered design, he told me. “It is a piecemeal migration to newer technology and microservices. We see many advantages offered via microservices and well-defined interfaces.” Indeed, Enuit is also using other technologies like Python where applicable for risk calculations along with other new technologies.
Enuit’s North American brand strength and leadership position in China were both aspects of the recently concluded Vendor Perception study and it seems that Enuit is continuing to build on its growing brand and is set to become a major challenger in the world of both CTRM and CM.
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