Fendahl Sees North America as a Key Market for Growth
Michael Snayd has been in the energy and commodities trading business for a couple of decades or so already and has worked with quite a few systems in North America in that time. Last year, he joined Fendahl and is now leading its North America efforts. “I was impressed with the customer referencability,” he told me. “The product technical architecture was also a factor as it is a modern technology, cloud-based, Microsoft stack that also means the cost of the solution is lower for customers.” Since joining, he has overseen the addition of two new customers with a third about to come onboard.
Fendahl’s focus on North America is on oil and gas. The two recent wins have been on the natural gas side, but oil and refined products are also in the frame. An imminent ags and softs deal where Fendahl is replacing a legacy solution will further the cause as well, he told me. “Two wins in the last 4-months with a third coming at the end of the month is an exciting start to my tenure here.” The sales funnel is strong apparently with opportunities in oil & gas and refined products primarily.
Michael has also hired a team to help and support going forward. This includes pre-sales director Eric Sterr, who also has a strong track record in the industry and was previously a risk director at an energy firm. Business Development for North America is now managed by John Barnett who has experience with other vendors in the space as well. Another area where Michael has been working hard is on attracting systems integrators to Fendahl’s cause. “The product is quite easy to support and doesn’t need a large team but having third-party resources to help out with implementations is a part of our strategy here,” he said.
Michael thinks that Fendahl has a good opportunity overall in North America. Firstly, it is a relative newcomer to many there with a strong cloud-based product in Fusion. He sees that the product is cost effective and needs only a small team to support it and Fendahl is innovating in areas like AI and reporting with Microsoft, he told me. The North American market is a mature market, and a new solution possibility is welcome adding to a limited choice of solutions and providers, he said. With two wins under his belt, Michael is bullish about Fendahl’s opportunity in the market there.
