CTRM Upgrade Services by Value Creed

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.

Quantitative Benefits

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:

Qualitative Benefits

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.

Download the Net Present Value Calculator to Evaluate Your CTRM Upgrade Viability

Download XLS Now

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. 

CTRM Upgrade Project Timelines

Choosing the right upgrade partner is paramount to staying on budget and delivering on time.

Careful Testing Of Platform Customizations

Diligent testing of custom workflows ensures extensions and class events have successful quality assurance.

Making The Right Choice In a CTRM Vendor

Seek a vendor with customer successes and a proven process for mitigating risks.

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.  

Watch Now

CTRM Upgrade Successes

At Value Creed, we’ve seen the impact a successful CTRM upgrade can have on service commodity companies. See the results for yourself in the following case studies.

Ready to Explore Upgrading Your CTRM?

Leverage a partner with best-in-class functional and technical expertise to manage and deploy your upgrade on time and on budget.