FIRST WAVE: ACCELERATION OF TRENDS
"The immediate impact of restrictions on physical interaction led to an acceleration of trends including digital transformation across the enterprise"
Working remotely highlighted archaic connectivity issues and support models from the traditional CTRM vendors. Legacy systems were not available for days and longer as vendors grappled with basic VPN and connectivity challenges.
SECOND WAVE: ADDRESSING GAPS AND SHORTCOMINGS
"The pandemic has thrown many systemic flaws into stark relief."
Volatility and negative prices broke end of day processes and highlighted the need for intra data reporting and visibility. At CTRM Cloud - we provided real-time analytics adjunct to legacy systems to several new clients in Q2. Implementations were completed remotely in less then a week.
THIRD WAVE: ACCELERATE THE CLOUD
"In anticipation of the recession we are now entering, every customer of every vertical is prioritizing cost savings immediately. Enterprise buyers also know their businesses are changing – as we described above – so projects moving their business to the cloud and online have become top priorities. Obviously, these customers want products that are easy to install and integrate, and are products with clear proof of ROI on day one."
The new normal has exposed the stark differences between CTRM systems that are hosted in the cloud versus a newly built native cloud multi-tenant system. As we move into the second half of 2020 - CTRM system requirements now include:
Fast Remote Implementation
Always up to date software - No more upgrades
Salable - intra-day analytics on demand.
Security provided by the major cloud provides
Flexible Subscription Commercials