The digital revolution of the last twenty years has impacted the world in so many ways: the way we manage our finances and make purchases, the way we seek and digest information and how we communicate and share aspects of our personal and professional lives. It’s without a doubt that technological advancements have made our lives more efficient.

 

The trading landscape is no different and going through its own digital transformation. Commodity trading companies are increasingly switching from legacy CTRM systems to cloud-based technologies. And this shouldn’t come as a surprise when last year, Forbes magazine estimated up to 83% of companies will use cloud-based software to make their work easier and faster.

Early adopters of cloud-based CTRM solutions are reaping the benefits of a SaaS-based solution, and almost immediately. Let’s take a look at some of these advantages.

Instant deployment

  • Gone are the days of expensive, lengthy implementation projects – they no longer take months or years, but rather weeks.

Flexibility

  • Cloud solutions scale with your business

  • A cloud-native solution gives users the power to easily scale up and down as their business needs require it, providing real time insights and intraday risk reporting

  • Legacy systems and spreadsheets (which are a common alternative to a CTRM system) do not: the timing and performance of intraday and EOD of calculations will inevitably slow and impact the productivity of your teams. As large batch processes end up taking place over night – key business decisions are unnecessarily on hold

  • A cloud solution will allow you to work from anywhere, anytime. Pretty perfect given the events of 2020.

Continuous development

  • Never miss an update – system upgrades are done quickly and easily, causing little or no disruption. That’s right – updates are rolled out almost instantly with no downtime for users.

Reduced TCO

  • With lower hardware costs, less people required to manage and maintain a clunky on-premise installation and no scary deployment costs, TCO is drastically reduced – not just in the short-term but beyond.

One view

  • A single source of truth is crucial to risk management and accurate trade captures. Cloud-native CTRM systems allow your teams to work collaboratively and mitigate risks together.

Security

  • Multi-tenant systems are designed from the ground up to ensure complete segmentation and security of client data. Solutions that are built for single-tenant deployment tend to ignore security at the software architecture level with the assumption being that security can be achieved by a closed physical infrastructure

  • Disaster recovery keeps valuable data safe.

Competitive edge

  • Cloud technology has the potential to level out the playing field because it makes enterprise-grade technology available to everyone. It allows smaller businesses to act faster than big, established competitors, giving them the means to go head-to-head with bigger players.

Compliance

  • Mandated compliance, audit reporting and regulations like EMIR and Dodd Frank are increasing. Timely, accurate intraday and real time reporting cannot be accomplished using legacy end of processes.

Agile or Fragile?

In a post covid world, it’s not an option to hold your business back with dated technology: it’s no longer new but normal to provide your teams with remote system access. And with ever-increasing market volatility, more and more companies are gaining competitive edge by leveraging the promise that a cloud native technology delivers.

Start as you mean to go on. Ask yourself: would you run a marathon in tattered sneakers?

CTRMCloud offers CTRM as a Service. Discover the endless possibilities. Contact us to learn more.

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