Fendahl is another vendor seeing a lot of demand in the market for CTRM solutions right now. Henry Thornalley told me that it had many demonstrations to do for interested prospects while it was involved in some potentially huge deals as well. It has just announced Rio Tinto and has several other announcements queued for release in the coming weeks and months, he told me.
The Rio Tinto announcement was brief but said “Fendahl has entered into a five-year agreement with Rio Tinto to supply the mining and metals company with the Fusion CTRM platform. Rio Tinto’s integrated trading team will utilise the platform to enhance capability essential to its global commodity trading and risk management activities. Contract award was following a competitive testing process in which Fendahl were selected on the basis of the platform being the most suitable to meet Rio Tinto’s integrated trading ambition, and confidence in Fendahl as a partner to deploy and operate the software.”
Fandahl is growing and now has 240 staff globally, Henry said. “We are expanding at a sensible rate and where it makes sense to do so.” He fully expects several new customers this year and a lot of implementation work. On top of Rio Tinto, Fendahl has announced Mieco and Novada Commodities so far this year.