China. It is a commodities powerhouse and certainly a major commodities consumer. Yet, when it comes to CTRM software, it is still in its early stages and experiencing a similar trajectory to the one in the west based on what I heard from Enuit’s Pengcheng Zheng this week. There, Enuit has a local presence that has seen it almost double in size to around 50 people in the last year and is one of very few CTRM vendors to have had success in that market. Pengcheng Zheng would argue that Enuit is the only successful vendor in China, and he may well be right, as it has expanded its client base in 2022 with three huge new entities in chemicals, minerals, and petrochemical and refined products. Enuit now has a sizeable number of licensed users in China, he told me. When he describes the market for CTRM software to me, it reminds me of how it was in north America a couple of decades ago. Essentially, many businesses with commodities exposure have never heard of CTRM software and instead they have invested in trying to expand their ERP solutions or built homegrown solutions. Others have invested in platforms from Fintech… continue reading
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