I recently had a catch-up call with Chris Regan at Brady. It seems that much has transpired since we last spoke including a refreshed website and branding. I wanted to learn about the PowerDesk family of software products and understand how the new products were selling and developing. Chris and his team have created an all-new set of products under the PowerDesk banner that appear to us to be somewhat unique and differentiated. However, I first learned about the entire product suite that is now also using the PowerDesk brand.
For many years, Brady has enjoyed good success in Nordic markets with a data manager product. This product has evolved to support asset and meter data management, trading, and settlements, with market connectivity in the Nordics, Europe, Western Australia, and Canada (Ontario). It is newly branded as the PowerDesk Data Manager and is now a truly international product – “If a market is decentralized then there is an increased need for a product like PowerDesk Data Manager,” Chris said. Set to benefit from an all-new web-based UI next year, the product has an average 17-year tenure with existing clients and continues to sell well, he told me.
PowerDesk Grid is another rebrand of software that is used to run the Irish grid, Chris said, and it can receive schedules for grid operators. PowerDesk Scheduler and PowerDesk Balancer are the new names for Brady’s scheduling software that continue to support new interconnectors and that covers over 30 markets and all major interconnectors, he said. Recently, Brady has landed two new very large customers for this product, and it considers itself the market leader when it comes to providing scheduling solutions for top tier companies in Europe.
Meanwhile, PowerDesk SaaS continues to evolve. The core product is selling well, according to Chris, with a new entity signing up for the software in Finland and two other Nordic customers going live. PowerDesk SaaS is an innovative product that Brady claims to “revolutionise how you trade in intraday and day-ahead power markets.” Certainly, the way the product is structured and the ability to get intuitive views of position and market activity appears to us to be unique. The core product has doubled its customer base since we last spoke, according to Chris.
PowerDesk Edge is “a flexible toolkit of algo libraries designed with risk control at the core,” according to the new Brady website, and Chris and his team are working on new ways to see the impact of a particular algo and how to assess its success under many different market and trade conditions. “We already have an amazing back testing environment,” Chris said. “In fact, we are offering back testing as a service to customers.” This version of Edge will be out sometime in Q3 of next year, he said.
Brady now appears to be armed with quite a formidable array of software products that not only includes PowerDesk, but also Brady Igloo and CRisk. Indeed, Brady can now focus completely on these energy market focused software products as its other former software products were completely spun out to Quor earlier this year. That divestment also has meant that its new website can be more focused as well. It will be interesting to see what this means in terms of market penetration over the next year or so.