One very noticeable thing at E-World last week was Brady’s booth. Not only was it very large and prominent but also very busy. I was there to visit with Brady CRO, Craig Vintcent, who was very happy with the show, traffic, and Brady’s progress. Brady, he told me, had won four new Igloo clients so far in 2022 while also releasing its all-new PowerDesk software and implementing it at a customer site – and that was just on the energy side of things.
In fact, I was handed the news release regarding Agder Energi, one of Norway’s leading producers of clean, renewable hydroelectric power, which had just gone live with PowerDesk. The announcement said that “Agder Energi has gone live with the SaaS version of its PowerDesk solution following trialling a proof of concept. Brady PowerDesk is designed to help Europe’s electricity traders to accelerate revenue generation from intraday and day-ahead trading. PowerDesk offers ground-breaking decision-support showing portfolio flexibility at different price intervals, real-time net open position monitoring and reserve market bidding.”
Brady now offers Igloo for curve trading/ETRM, PowerDesk for short-term power trading and cRisk for credit risk in the energy space. EDM is also still an important product for the vendor, he told me, particularly in Scandinavia. The credit side is also going strongly as the focus is on successfully migrating customers to the cRisk solution, and its power scheduling solution is also still an important part of the mix.
Despite it being an energy show, I was keen to also inquire about the metals and commodities side of the business as well. This too, Mr. Vintcent told me, was an area of investment for Brady where they had some ‘huge projects’. Brady had just won a huge metals customer; he said and was chasing a lot of other business. Meanwhile, its Fintrade software has also been the subject of investment in areas like its UI and on its concentrate’s capabilities. In fact, Brady had announced a go live with Traxys in Europe back in May.
“Brady is back,” Mr. Vintcent told me enthusiastically. A combination of internal investment in software and people combined with a couple of acquisitions (Igloo and cRisk) meant that it was now pursuing its new strategy with success. “We have lots of momentum in the market,” he said. Brady expects to sign 6-7 new names this year and with 4 already done, that looks like a thoroughly attainable target.
In the coming weeks, ComTech will get updates and demos across Brady’s portfolio of products and will be following Brady’s resurgence with considerable interest.