ComFin and Comcore
As you may imagine, I am catching up with all the vendors again since joining Patrick at ComTech Advisory. One of those calls was with ComFin Software of Vienna. I spoke with Mr Gerald Neher and Mr. Daniel Gallar of the company and also had a demo of their new software – Comcore. ComFin view themselves as a specialized ETRM player that is pretty much focused on oil and that has a lot of knowledge and experience in that commodity with over 20 clients in Europe, USA, India and Singapore.
ComFin’s product – The BullDog – has a number of clients using it in the energy area in particular, for oil. However, ComFin has been hard at work for a while now developing a new generation of ETRM software which it launched a month or so ago that it calls Comcore. Comcore even has its own website. Comcore is very much a successor to The BullDog targeting oil trading specifically but it is a huge departure technically from that product – which ComFin still actively support. Comcore is essentially a redevelopment of TheBulldog based on a new architecture that comprises .NET framework with a SQL Server back-end and Integrated Reporting. The firm has redeveloped the front-end and processing has also been completely redesigned to improve both ease of use and system performance with the emphasis on usability. The user interface is a modern and clean usable interface that should prove to be more user friendly.
ComFin has also made other improvements in functionality including enhanced VaR (view by reporting structure and native support of Monte Carlo and historical VaR) and will roll out Credit Value at Risk this month. It also added functionality in the back office such as, for example,
* Discounting feature: P/L reports considering inflation.
* Delta Engine: obtain P/L breakdowns, making it easier to track down P/L differences.
ComFin has also modified its fee structure offering Comcore on a lease basis as opposed to through a perpetual license fee but they have, for now anyway, stopped short at offering it on a SaaS basis.
Mr. Neher told me that the company’s selling points remain similar and include personal support for each client and an emphasis on the personal approach.
Interest in the new product is reported to be high with some customers already planning to switch. The new risk functionality means that some customers are interested in taking that first according to ComFin. Meanwhile, TheBullDog is still actively supported.
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