Cloud E/CTRM provider Aspect has signed its second new major E/CTRM customer in the Middle East within three months in what the company is describing as a warning for big traditional vendors of legacy solutions. In a market where the big players once dominated, they are now feeling the pinch claims Aspect as the strengths of cloud vendors – with agility, flexibility, better risk management and subscription-based opex over capex pricing models – become more important to customers.
The latest deal for Aspect is with the Dubai-based, MENA Energy which offers a broad base of services including energy trading and shipping. MENA Energy considered traditional software/hardware solutions alongside Aspect but chose the latter’s cloud based offering.
“MENA liked the extensive discovery process we conducted with them and the depth of understanding we were able to develop in their business as a result,” says Aspect’s sales manager Middle East, Fieras Freijieh. “It’s interesting how in this market it used to be the smaller vendors who worked in the shadow of the big players. Now we’re seeing a 180-degree turnaround as customers increasingly value the benefits that emerging players with leading technology can deliver.”
MENA Energy has signed up for the AspectCTRM standard edition teamed with the company’s AspectDSC market information and analysis product. Together the two make a formidable trade and risk management toolset which will be fully implemented, including data migration from MENA’s previous solution, within three months.