As I hear myself saying very often, new vendors emerge quite often in the broader CTRM space. We have covered why this occurs in detail in our comprehensive book – CTRM Software – An Analyst View of a Dynamic Software Market – but one way is that new technologies allows a small group of people to build a new solution and challenge the existing vendors. This appears to be the case with a new vendor I spoke with last week called PRISM SOLUTIONS. I spoke with Fauwad Hurzuk, founder of PRISM SOLUTIONS, who told me that after working in the energy industry for over two decades, he thought he had seen a gap in the market in the area of credit risk management and believedt that he could come up with a better, more cost-effective solution on modern technology. So, he and some colleagues set out to develop that solution targeting a slightly different market to existing credit risk solution suppliers, he told me. “Users have a number of issues with existing solutions,” he said. “First is cost. Other vendors target tier 1 and 2 with costly pieces of software that take time and money to implement. Here, the costs… continue reading