Asian markets for CTRM and CM software have been pretty active in 2020 despite everything, says Tony Teo, Enuit’s MD for Asia-Pacific and Middle East. “We can’t travel so much during the pandemic but Singapore’s team has been very active in engaging potential clients over phone discussions, face-to-face demo, and the rest we can do remotely,” he said. “A lot of smaller companies in Singapore have been looking for solutions.” These are apparently often companies that have been relying on in house systems or even Excel spreadsheets. “They don’t engage consultants or SI’s,” he said. ”Rather they evaluate 3-5 vendors via a fairly lengthy process and make their own decision.” Most are oil & gas companies with some refiners, LNG entities and even a few metals entities also shopping. Tony says that the larger companies in the region are still using outside selection help. Enuit has 8 projects running right now in Singapore having won its fair share of deals, Tony said. “We had two wins in September – an LNG trader and a crude oil trader.” Enuit also set up a Tokyo office in December 2019 with a business development person and senior BA located there. It has already… continue reading
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