HOUSTON - Oct. 29, 2020 - Software-as-a-Service (SaaS) technology firm, IGNITE CTRM, announced today that interest in its commodity trading and risk management (CTRM) cloud software has grown with year-over-year users increasing by more than 115%, and revenues up over 500% since 2018.
New deals are coming from every region of the world with its newest oil trading clients, both Alvari Group and Centurion Group headquartered in Geneva, 7 Seas B.V. in Rotterdam, and Turkey-based bunker fuels trader Unerco. COVID-19 is not slowing or stopping implementations, as the IGNITE cloud enables quick, out-of-the-box remote deployment and secure logins via the web.
"Our clients are reporting growth, and that's good news for us. Our Q4 projections remain positive as many trading markets continue to thrive, and system selection for small and mid-size trading firms is increasingly important. As our software continues to advance and our customer base increases, we are accelerating our marketing and brand awareness in an effort to further drive momentum," says IGNITE CTRM CEO Shawn Wegner.
For start-ups and mid-market commodity trading companies, IGNITE CTRM provides the necessary tools to manage trade portfolios, storage, logistics, credit risk, and other critical activities. These companies have the same responsibilities to their clients, investors, and lenders as large companies. The IGNITE cloud and affordable SaaS subscription plans not only keep them in the game but also allow them to expand safely.
Similar to the financial collapse of 2008, this year presents budget challenges for companies looking to invest in software and infrastructure. Some companies have put a freeze on capital expenditures, but SaaS subscriptions are paid through operational budgets. The pressure is not on upfront costs, hardware, and lengthy deployment cycles like it is for on-premise software.
With volatility comes risk and opportunity and a majority of IGNITE's clients have expressed this sentiment since late Q1 but fortunately, and with the help of IGNITE's award-winning capabilities, they've been able to stabilize and find opportunities in this volatile market.
This sentiment was recently echoed by Centurion Group Trader Alban Lammens who said, "Early in the pandemic, it's fair to say we were a bit uneasy about how it was going to play out in the market and for our business. With IGNITE, we've been able to capitalize on the volatility and do quite well. Without IGNITE, we wouldn't be able to effectively meet the needs of our clients."
About IGNITE CTRM
IGNITE CTRM is on a mission to simplify, improve, and modernize the user experience for commodity trade and risk management software (ETRM / CTRM) solutions. Learn more at http://www.ignite-etrm.com.
