Phlo Systems Looks to Build off Strong Momentum in 2024
Phlo Systems enjoyed a prosperous 2024 making significant progress on several fronts, CEO Saurabh Goyal told me recently. “So far, 2025 has also been good to us,” he said. Indeed, 2024 appears to have been quite a strong year generally for vendors of CTRM and related software. However, Phlo Systems has added new customers across its three products amidst significant interest, Saurabh said.
It is also positioning for growth in 2025 as it has made several key hires including two seasoned and experienced senior sales staff on the OpsPhlo side of the business with a view to attracting 4-5 new customers in 2025, he said. Its Global Trade and Customs solution (TradePhlo) has also done well, and Saurabh expects to soon announce its first customer using the solution for both British and Dutch customs clearances. Meanwhile, FinPhlo is also growing and going in new directions as its users (trade financers) receives funding from crypto funds and DeFi pools.
2024 was quite a good year, Saurabh said, in terms of acquiring new customers and sales. It was also a good year for completing a lot of incremental functionality across all its products. OpsPhlo (CTRM & ERP) got its first metals customer which has already gone live on the accounting module. It also finished its first migration for a customer who replaced a legacy solution with OpsPhlo – “all of our customers prior to that have been greenfield sites,” he told me. “So, we had our first win in metals, first replacement and we stabilized development on the product in 2024.”
One area of significant progress was around auto hedging where via a partnership it has added significant capabilities that mean that “users enter a physical contract, and the system advises and acts on the best hedging strategy.”
Saurabh sees OpsPhlo’s strength as being a fully integrated CTRM, ERP and Treasury solution. It is also SaaS, in the cloud and a very modern solution fulfilling the desire of many in the market for software these days. “Any trader looking for an integrated CTRM-ERP should be looking at OpsPhlo. However, this year we will be focusing on building a stand-alone version of the CTRM as well,” he told me. “This will have interfaces to ERP solutions and will be our OpsPhlo lite version.”
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