Enuit COO Bullish on Market Developments
The next generation of Enuit’s EnTrade is shaping up well, according to Ganesh Natarjan, Enuit’s COO, who told me recently that it has been showing it to customers and readying proof of concepts with them while starting to take it out to the market more generally. Enuit has made the next generation version a priority this last year and yet, it has still seen good demand from the market for its software, he added. In particular, it has been fielding a good number on inquiries for metals solutions and for LNG and liquid hydrocarbons, particularly out of Europe and Africa.
Of interest to ComTech was the fact that Enuit is also seeing interest from oil and refined product firms expanding into other related commodities like petrochemicals and plastics, Ganesh told me. He cited a specific example of one firm seeking to add trade in PVC piping, for example.
Ganesh also pointed to renewables as another area that continues to grow. “Existing customers are starting to trade and so we are getting a bit more traction there,” he said pointing to the USA and Europe specifically. He also sees the middle tier of the oil market having traction in locations like Dubai but notes that some of these opportunities are more “operations and accounting focused that true CTRM”. This is on the back of quite a lot of movement of traders and trading forms to the Middle East. “They soon start to look for systems but can also be quite price sensitive,” he said. “Many are just entering the market and seeking a nimble solution on which to get started.”
He also sees a growing replacement market developing either for home grown solutions or for legacy CTRM solutions. “Sometimes, a managed services agreement is coming up for renewal and so the firm takes a fresh look at the market,” he said.
Despite its focus on the next generation product, Enuit has also been busy closing deals, and he cited several recent wins including a US refined products company that had already gone live, a petrochemical firm in Singapore, an oil implementation for a Polish-German firm and a very large deal in Thailand in oil.
He remains bullish on the market going forward as well saying that the US election result could lead to a pick-up in business generally but certainly in LNG.
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