I had the opportunity to get a briefing from Allegro’s marketing and product management teams this week…and in summary, its clear that 2017 has been a good year for the company despite continuing challenges in the broader CTRM markets.
With a total of 18 new customers and 39 new “go lives”, Allegro has done very well in what has been, at best, a moderately improving market for most other vendors. The team notes that the company’s year-to-date revenues are up vs. the same period last year, with the increase driven in large part by growing demand for Allegro’s cloud offerings.
As we indicated early this year, Allegro has been investing heavily in innovation around their products, customer support and services delivery capabilities over the last 18 months. Many of these new products and capabilities have been deployed over this year, with others are set to arrive soon:
- Allegro has been taking advantage of the Azure cloud to expedite new customer implementation projects – reducing the time and costs for data loading, testing, training and configuration of product extensions. By initially deploying the product in the cloud, Allegro’s various product, consulting and support resources can be quickly brought to bear during the implementation to assist on-site resources during critical path activities, or to address any issues that may arise. Once the implementation is complete (or at any point during the process if the customer wishes), the system can be quickly transitioned to customer-owned servers or can remain in the cloud in a production environment.
- Allegro’s recently announced CTRM Mobile Application has been successfully deployed and is providing its customers real-time remote access to view reports, manage approvals and receive immediate notifications of key events via their IOS or Android devices.
- Nine new products are scheduled to be released after the first of the year, including new functionality and capabilities to address the evolving requirements of the European gas and power markets. Additional new or expanded modules will include enhanced LNG coverage, US power market connectivity and an enhanced credit offering among others.
- Beyond these new products/modules noted above, Allegro will also soon release a new capability called “Time Travel”. This new solution will allow customers to quickly call-up and review their system status at any point in time in the past, providing a complete historical view of deals, position, etc without lengthy report configurations or the need to retrieve data from archived sources.
In terms of market activity, the company indicates they are seeing lots of inbound interest from the oil and refined products markets. With their recent win at Kwik Trip and their growing footprint across multiple divisions at RaceTrac, Allegro is increasingly seen as one of the top competitors in the crude/refined products markets. And, with the maturation and success of Allegro Air – their smaller footprint cloud offering for the space – they believe they are competitive across all tiers of the oil and refined products markets; from the small, single office traders to the largest multi-nationals.
Overall, Allegro continues to find success at a pace that puts them near the front the pack of CTRM vendors. While the market continues to improve bit-by-bit, Allegro appears well-positioned to address rapidly evolving needs across a broad range of industry segments and new technical requirements; and particularly so for cloud deployed solutions.
Note: Edited for revised information and data provided by Allegro.