Rethinking CTRM – Part Two

New Approaches to Design Commodity Trading and Risk Management (CTRM) and Commodity Management (CM) software is very complex because the business is itself extremely complex, often non-standard and constantly evolving.  In order to deal with this, the software products devised and marketed by the vendors are usually extremely configurable by design. By making their products configurable, the vendor can reach a larger group of customers all with differing requirements across the industry and hence, extend the potential market for the software product, ensuring that it can be a financial and commercial success – as it has to be to be considered a true software product as opposed to a custom solution. One problem associated with this approach historically is that it takes time for the vendor and its customer to develop a shared understanding of the business and the software and how best to fit one to the other in such a way as to ensure value is achieved and the software can grow with the business. Implementing the software can then prove very difficult and risky as decisions can be made early in a project based on this lack of understanding that will eventually hamper the project resulting in… continue reading

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Source: CTRM Center

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