Previse Systems had its second anniversary last Monday (23rd August), Marc Zumstein told me, and in those two years, it has tripled its staff, developed an ETRM from scratch and taken several customers into production. “We have come a long way and continue to expand our team” he said. Previse is also about to complete a POC with a large utility in the Nordics where its strong capabilities in renewables have been a strong differentiator. “A lot of legacy solutions struggle in this area in reflecting market realities. It has been a bit of a sweet spot for Previse.”
Previse is being somewhat opportunistic in its approach to the market bidding into all types of opportunities. “As our software matures, it is increasingly likely that our win rate will further improve. We are picking up a lot of leads, but smaller opportunities tend to suit us well as we can offer a very efficient solution that fits them well. We often also appeal to larger companies that have a specific need in a specific niche or who are struggling with legacy solutions and slow time-to-market for new instruments.” Increasingly, Marc sees a replacement market developing that again suits Previse. “The energy transition and change in generation assets is increasingly bringing people to the market that have legacy solutions installed that were designed for a different market. They want faster and more agile solutions going forward.”
Previse also uses the concept of an app store. “We have a lot of positive feedback for this approach,” he told me. “Companies typically have a network of vendors and providers that they routinely use, and this approach works well in that context. Many are also looking for more vendor independence – they want the software but also to remain agile and able to work with other partners as well.” Previse see a role as a broker in this respect, going forward, he told me.
Indeed, Previse is representative of a new type of solution in the market along with others like CTRMCubed, Igloo, Molecule, and so on. These are cloud-native applications often built by people who have been through the entire cycle once before (Previse founders are largely ex-Allegro, for example). They bring to the table new architectures, models and ideas that will find appeal in the industry and will increasingly offer an alternative solution, albeit as part of an ecosystem perhaps, to the ‘legacy’ vendors.