Top 6 Reasons for Upgrading Your CTRM Platform
Companies typically evaluate upgrading their CTRM software platforms when new or changing business priorities require them to adapt to markets, products, economic conditions, and business opportunities, or to comply with policies keeping them up to date on the latest software.
At these inflection points, CIOs and their teams are tapped by executive leaders to drive new innovation in these platforms. This often start with an evaluation of their incumbent CTRM platform’s ability to deliver on these new priorities.
The decision to upgrade a CTRM platform is influenced by key functional concerns like:
Modeling new business requirements
Adapting to technologies such as Artificial Intelligence, Machine Learning, and Cloud
Automation of common tasks via Robotic Process Automation
Faster, more accurate reporting via performance improvements
Optimizing overall functionality to comply with market requirements
Reducing cost of ownership with cloud or hybrid cloud deployment
Key Benefits a CTRM Upgrade Can Deliver
Whether you’re implementing a light upgrade, with Value Creed providing technical support and guidance to internal teams, or a full upgrade where our experts handle everything, these three key values are crucial to keep front of mind.
Above all, companies assess the costs of a CTRM upgrade against the quantitative benefits of upgrading their commodity management software. By putting numbers to the project, managers have a better sense of what resources they’ll need, including:
CTRM improvements involve qualitative benefits that improve the overall function of their platform. The advantages companies gain from effective CTRM upgrades often reveal themselves over time.
Some of the qualitative benefits companies seek in their CTRM solutions include:
Commodity trading and risk management relies on getting the right data to the right teams—and keeping data out of the hands of bad actors. These qualitative improvements ensure that only the right people utilize said data.
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3 Keys to a Successful CTRM Upgrade
The decision to upgrade your CTRM requires high consideration, cross-functional buy in, diligent oversight and the right vendor partner to ensure flawless execution. There are three keys to consider as you select the right partner.
Learn Key Lessons from Value Creed to Ensure CTRM Upgrade Success
Upgrading your CTRM platform is inevitable. Listen to this video and learn how you can ensure success by addressing the risks with an informed perspective.
CTRM Upgrade Successes
How Transalta Rapidly Integrated ICE Changes with Value Creed’s CTRM Upgrade Expertise Zero Disruptions, 24/7 monitoring With diverse electrical power assets spread across Canada, Australia,
Maximizing CTRM System Value and Efficiency with Targeted Expertise Key Results: Successfully executed an agile CTRM platform upgrade using right-size expertise Maximized business process efficiency
When considering a CTRM upgrade for your company, there’s a significant struggle to figure out exactly what you need. How much is too much? Of
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