AspectETRM, the fast-to-implement energy trade and risk management system, has been chosen by Geneva-based Lemvig Oil Trading SA for critical front and back office roles.  Lemvig Oil Trading specialises in trading and transportation of oil and oil-related products in Russia and the countries of the Confederation of Independent States.

The software-as-a-service (SaaS) system from Aspect Enterprise Solutions will initially give Lemvig’s trading team real time deal capture, position keeping, physical trade logging and reporting facilities. Later it will be expanded into back office and inventory management functions.

Replacing a spreadsheet based system at Lemvig, AspectETRM gives real-time market prices and information enabling traders to make better informed, more accurate decisions. In addition, by keeping all trade-related information together in one place, it will speed operational reporting.

“We knew we were joining a discerning group of users so the new confidence and accuracy with which we can trade thanks to AspectETRM have merely confirmed our expectations,” says Lemvig’s director of trading, John Spencer.

“Having experienced a range of traditional, client-server systems, what really impressed was the super-fast and pain-free implementation. Moving from spreadsheets to real-time online was a major change and we were expecting it to temporarily adversely affect our business. In the event the cut-over was super-fast and very easy, showing that Aspect as a company has really thought hard about how this technology can be made to deliver positives right from the off.”

The any-to-many scalability of Aspect’s SaaS solutions and the speed with which they can be deployed contrasts dramatically with legacy systems which typically take a year or more to implement and which fail to effectively scale downwards to support smaller trading operations. Even in a large scale fully end-to-end implementation, key elements of AspectETRM, such as deal capture and risk analysis, can be in place, working and delivering value within a matter of days, with successive additional elements going live as the progress of integration projects allows.