3Ws Of CTRM Software System Upgrade

CTRM software systems become obsolete every time there is a change in technology, a new market regulation or amendment in the current structure. More complex trading and risk management strategies become the need of the hour to keep pace with your competitors, especially when you want to penetrate different markets and engage in multi commodities and expand your line of business. But before you think of a system upgrade, you should ask yourself the 3 W’s – Why, What and When before taking any decision, as upgrading a large CTRM software system costs you somewhere between $1-2 million per the implementation specialists.

WHY Upgrade

  • When you want to take advantage of the changing technology (cloud based, big data or blockchain) and increase your performance and eventually ROI.

  • To get benefits from new user friendly features, bug fixes and automation of critical business process to save time and money.

  • To enjoy benefits of the services provided by the CTRM software system vendors and make your system more compatible with new enhancements.

  • To adhere to regulatory reforms and avoid any operational risks arising from non-compliance.

WHAT To Upgrade

  • Old versions – which may be no longer compatible with other, connected applications either in-house or out bound.

  • System performance – which may have been reduced due to increase in trading activities and large data flows in the system.

  • Processes – performed manually, but which are now automated and are available in the new version of the CTRM system software.

WHEN To Upgrade

  • When you want to diversify your commodity portfolio and enter new geographies or expand your line of business.

  • There is a change in regulations or a new regulation is introduced.

  • A new strategy or complex deal pricing mechanism needs to be embedded into the system.

  • Large amount of data needs to be integrated to profit in a world of shrinking margins.

  • Operational losses are increasing because of manual processing of some businesses – critical processes like mark to market valuations, trade validations, batch processing or EOD processing.

CTRM software systems are complex and it becomes necessary to follow the advice of expert commodity consultants and developers to drive you smoothly through system upgrades while you focus on your core business.

We at Value Creed take pride in delivering successful system upgrades for our clients in commodity markets. With a team of highly skilled and professional consultants with a cumulative experience of 80 years, we provide expert functional and technical support in CTRM software system upgrades.

Considering a CTRM software system upgrade? Partner with us to know more about how we can help you achieve your business goal and targets, on time and well within budget.