Aspect Enterprise Solutions Releases Cloud-Based Shipment Tools For Physical Oil Trading Companies

New oil shipping functionality strengthens Commodity Trade Risk Management (ETRM/CTRM) Platform

Aspect Enterprise Solutions, a provider of multi-commodity trading and risk management Software-as-a-Service (SaaS) applications delivered in the Cloud, recently unveils enhanced oil and petroleum products shipping features to its AspectCTRM Physical Operations Module.

Over the past year, Aspect has released several new and enhanced features to its established trading and risk management platform, AspectCTRM, including inventory management and storage functionality.

AspectCTRM offers a series of what are called Work Benches which allow users to move through the application in a user-friendly way, while performing operations tasks such as tracking inventory in and out of terminal, and in-transit - while understanding the impact movements have on profit and loss. (See release outlining Inventory features here: http://www.aspectenterprise.com/resources/news/article_10_17_11.php)

With the new Shipment Workbench, users can schedule and nominate shipments and view the status as they progress through their life cycle with graphical displays and shipment plans. Other features include: support for demurrage claims, tracking and reporting of shipment losses, load/discharge operations, and more.  Users are able to plan product movements between shipment modes of transportation including cargo, railway and trucks. 

“Our customers welcome the changes and additions we’ve made over the past year,” says Aspect CEO Steve Hughes. “We’ve long been known for our market strength in terms of real-time reporting of risk and P&L. But it’s our latest improvements in the areas of physical operations that are really helping our customers manage their total business. There’s so much money that can be lost in the movement of product, and now they have visibility throughout their supply chain, so they can reduce those risks.”

Aspect’s further releases will feature extended functionality and support for pipeline transportation, railcar, blending, physical support for metals and other commodities.

Aspect is the first wholly Cloud-based solution of its kind to offer true end-to-end processing for oil trading firms. It integrates front office trading, middle office storage and physical operations, with back office business and financial operations into one common system. Its market data, trading, risk and physical operations solutions are integrated on one platform, and allow integration through APIs with homegrown solutions, and 3^rd party applications such as SAP, Oracle and others.

To add the new functionality user organizations simply need to upgrade their existing subscriptions, and Aspect turns on the functionality. There’s no software to install, so new users and new functionality are added easily and quickly. AspectCTRM’s other modules include Trade Management, Risk Management and Financial Operations.

Visit www.aspectenterprise.com for more information including details for pricing and editions.

About Aspect Enterprise Solutions

Aspect Enterprise Solutions www.aspectenterprise.com is a leading global provider of Web-based, multi-commodity trading, risk management and data analysis applications with almost 500 customers and thousands of users in 90 countries. The Aspect family is the only integrated, all-in-one platform delivered as Software-as-a-Service (SaaS) in the Cloud, which enables rapid deployment, controlled costs and immediate ROI. 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 and mobile devices including Apple iPhone and iPad, and BlackBerry. AspectPM is the Price Manager solution which provides consolidation and support for the global oil price forecasting process and forward curve management.