Aegean Bunkering USA Adopts AspectCTRM For Its U.S. East Coast Operations
Aegean Bunkering USA LLC, the New York-based subsidiary of the Piraeus, Greece headquartered Aegean Marine Petroleum Network (NYSE: ANW), has selected and deployed Aspect Enterprise Solutions’ trade and risk management solution, AspectCTRM. The project was completed in less than 12 weeks from contract ink to go live.
The implementation, including configuration, customization, full user training and the porting of multiple years’ data from a previous solution, sets a new record for Aspect for a front-to-back office system deployment.
“Our proven skill and experience in rapidly deploying leading technology is part of the core value our clients receive in selecting Aspect for their CTRM needs,” said Aspect VP- Americas, Sheshieda Davis.
AspectCTRM’s deployment at Aegean Bunkering USA came after the acquisition of another Bunker organization. The need to integrate this new business and its legacy CTRM system, together with pressures on a rapid deployment, made speed of implementation a priority as Aegean Bunkering’s Director of Global Trading, Sal Drago explained.
“We already had our own established in-house system and the firm we were acquiring came with something different again. Of all the solutions we looked at AspectCTRM offered the best, most complete and fastest option. This has more than proven to be the case in practice and AspectCTRM is now in service with front to back office and operations staff at our New York City office,” said Drago.
Aegean Bunkering parent company Aegean Marine Petroleum Network has a global presence in 21 markets and last year recorded sales volumes of 9,941,061 metric tons of refined marine fuels and lubricants.
Built on the Software-as-a-Service (SaaS) architecture, all of Aspect’s applications are delivered in the Cloud. Its inherent scalability and the speed with which it can be deployed contrasts dramatically with traditional ETRM/CTRM software systems which typically take a year or more to implement and which fail to effectively scale downwards to support smaller trading operations. Over the past 18 months, Aspect has invested heavily in its logistics and operations functionality, adding to its robust front-end trade and risk capabilities.
About Aspect Enterprise Solutions
Aspect Enterprise Solutions is a leading global provider of multi-commodity trading, risk management and data analysis applications delivered Software-as-a-Service (SaaS) in the cloud. With almost 500 customers in 90 countries, it’s one of the fastest growing providers with rapid deployment, controlled costs and immediate ROI for all size companies. Applications include AspectCTRM®, a full-featured commodity trading and risk management enterprise suite for front, middle and back office. It’s available in three editions: Lite, Standard and Enterprise, seamlessly expanding in functionality according to the needs and budgets of clients. AspectDSC is the decision support center for traders offering oil, metals and agricultural market news, prices, futures and analytical tools on desktops, tablets and mobile devices. AspectPM is the Price Manager solution which provides consolidation and support for the global oil price forecasting process and forward curve management.