Fendahl is gearing up for a record year, says Henry Thornalley, head of Marketing. “We are set to exceed our previous record year in 2020 in terms of revenues and new customers this year,” he told me this week, touting a backlog of press announcements to come. Like most vendors, Fendahl has found getting approvals for announcements from new customers quite tough as the industry is notoriously sensitive about being seen to endorse vendors. Yet, it has managed a couple so far this year with more to come, Henry told me.
Henry said that Europe has seen plenty of opportunity recently for the vendor and that it had just signed its second deal for a coal solution confirming our views that in the short to medium term, there would be a resurgence of coal ETRM sales. “It’s mostly energy activity and interest in Europe – oil, coal, gas,” he told us. Fendahl are also seeing opportunities in Africa, the middle East and Asia-Pac where the momentum has continued since before the summer break.
Fendahl is also seeing existing user companies adding users via expansions of various types as well as a steady and growing request for enhancements, he told us. Again, this confirms what we are hearing in the market as well and it seems the shackles imposed by COVID-19 and lockdowns are now off most firms allowing them to move forward with additions and enhancement requests. “The enhancement requests are not related to implementation,” he said. “Rather, they are new pieces of functionality that have been on hold for a while.”
Additionally, there is a growing replacement market and Fendahl have replaced a number of older legacy vendor products or in some instances, failed implementations of other vendor products. “However, there are also a lot of smaller type opportunities around as well where they were using Excel or similar and are now upgrading to a commercial solution,” he told us.
Henry’s comments and insights point to quite a hot market with lots of demand in almost all areas right now led by energy commodities in the main. This echoes what we are observing in the market generally and it seems 2022 will prove to be a good year for several vendors including Fendahl.