CTRM Cloud is a relatively new entrant into the CTRM space, having been actively selling their product only since early 2019. As a start-up, their leadership team had made the strategic decision to focus their sales and marketing efforts toward the power markets, believing that a cloud-based solution could find quick traction in what has been a fairly reliable space in North America and Europe. As Niall McCarthy, head of Global Sales at CTRM Cloud told us recently, that strategy was paying off with new clients signed in the power space in 2019 and early 2020. However, as soon as the pandemic hit in March of this year, a larger new client, a global multi-commodity trading shop who had signed on for dozens of user licenses, was forced to indefinitely suspend their implementation project just as it was starting. As he told us, “That obviously had a significant impact on our company. And, about the same time, we had a number of potential CTRM replacement projects that were very near closing also suspend their selection projects.” Faced with an what looked to be a period of extended uncertainly, their management team made the decision to pivot to other markets. “We… continue reading
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