Felix Petroleum Deploys AspectCTRM – Deal Marks First Customer Win For Aspect Channel Partner

09 April 2018

SINGAPORE – 9 April 2018: Felix Petroleum, an independent Singapore-based trading company, has switched from manual spreadsheets to the cloud-based AspectCTRM suite to better manage trading, risk, physical logistics and inventory.

It is the first contract involving Aspect Enterprise Solutions to be won by Singapore-based Principia Consulting, recently named a Premium Partner in Aspect’s Partner Program, (APP). Having worked with Felix to understand the trader’s needs, Principia identified Aspect as the best fit, not only able to meet 90% of the requirements with its out-of-the-box ETRM functionality, but – being cloud-based – rapidly deployable without the need for major new IT expenditure.

Having made the introduction Principia then played a pivotal role in the deployment of AspectCTRM, working with Felix to collect, collate and migrate reference and historical data, ensuring that the implementation fully supported established business processes, and was primed to enable planned new developments.

The deployment is already paying dividends, according to Felix’s Project Manager, Mr. Yeo Loo San. He says AspectCTRM is not only giving timely insight into trading operations, with on the fly P&L and position reporting, but is helping Felix grip the major challenge of its six storage facilities at Subic Bay.

Loo San went on to say, “Before AspectCTRM we were expending a lot of resources on tracking and consolidating movements in and out of the facilities, and creating daily reconciliations and reports for the traders and our management team. With AspectCTRM in place and configured for the task, now it’s as simple as one click.”

“In our trading team we have people with decades of experience, and AspectCTRM has impressed them, not just by the depth of its functional capabilities, but by the speed of its deployment. Aspect and Principia have given us a platform on which we can consolidate our gains to date, and build for the future.”

Aspect CFO Seetha Bansil, who heads the APP program, stated “This is a landmark deal for our partner program. We will announce another win soon, and we have a strong pipeline with our partners. It’s a win-win-win for Felix, Principia and Aspect.”

About Aspect Enterprise Solutions

Aspect is a leading global provider of multi-commodity trade, risk and operations management applications delivered Software-as-a-Service (SaaS) in the cloud. Aspect is the only true, multi-tenant cloud solution in the market with an extensive client base. With almost 500 customers in 90 countries, it’s one of the fastest growing firms with rapid deployment, affordable subscription fees, and immediate ROI for all size trading companies. AspectCTRM is its flagship product featuring a functionally rich, modular front, middle and back office suite available in Lite, Standard and Enterprise Editions. Aspect has the only ETRM/CTRM software with pre-trade market data and analytics tools delivered on the same platform on desktop, tablet and mobile devices. For more information about how to become a partner in the Aspect Partner Program, visit https://aspectenterprise.com/partners/ or email [email protected].

About Principia

Spanning from Energy and Utilities through Financial Services and Soft Commodities; Principia provides in-depth knowledge to the industry. Principia’s goal is to empower thought leadership through open and synergistic partnerships with clients and industry leaders, and identify and mitigate risk. Principia leverages scalable solution matrices built around industry best practices enabling nimble response time, cost-effective deployment and optimized results for clients. Principia addresses niche client requirements without costly bespoke solutions that can lead to delays and budget overruns.

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About ION Group

ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.

About ION Commodities

ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients to use real-time risk analytics and reporting, minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/.