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CTRM Cubed Eyes Better Data Analytics as a Key Differentiator

I checked in with CTRM Cubed last week and spoke with founder and CEO, Simon Piercy to get an update. Like many vendors in the space, CTRM Cubed had recently been featured in the ETRM Miniseries by the Insider’s Guide to Energy team, but I was still interested to get a personal perspective. Simon told me that the software is now in “really good shape,” as the initial users and customers had used it extensively and helped to get the software refined and ready for the broader market. Currently, the vendor has several main customers using the solution, he told me, despite not really pushing on the marketing side, “they are proving great feedback. When we show people the software they sign up and the ease of signing up is always a big plus with them too.”

One area that we discussed in some detail was that Simon believes that CTRM Cubed is different in that it uniquely blends ETRM with data analytics. It uses a cube data approach (reflected in the vendor’s name) and this has proven to be a big selling point with those that see the solution, he said. “Organizations often have a big pile of data that is needed in the trading business, but other platforms don’t cope so well with that data. The solution has all the trading capability, but it incorporates the data side in easily consumable formats that look a lot like spreadsheets,” he said.

Simon saw the market slow a bit coming into the holidays because of the UK energy volatility and the pressures on the retailers, many of whom went bankrupt. However, that interest has been replaced by smaller asset holders and operators and things have picked up subsequently, he told me. “There is a lot of interest in that side of the industry and they like our simpler procurement process.” The energy industry is also changing he noted. “It’s getting more complex and is a very different world to what it was.  There are many more smaller trades and different assets meaning a different granularity that makes systems more important.” he told me.

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Simon is also pleased with progress on the ecosystem side. CTRM Cubed offers an app store for its users who can download other solutions from third-parties that are instantly compatible. “We are in the process of adding a regulatory compliance solution and already have a half dozen or so applications in the store.