London, June 28, 2011: After careful consideration of several oil trading and risk technology solutions, Chase Petroleum Ghana Ltd (Chase) chose AspectCTRM Standard Edition (SE), to manage its oil trading and risk management operations. The flagship solution from Aspect Enterprise Solutions (AES) is the only Web-based multi-commodity trade and risk management system for front, middle and back office professionals, delivered in the Cloud.

Chase, an oil trading and distribution company specializing in trading crude oil and bulk refined products between Africa and Europe is active in transportation, storage and distribution of petroleum products.

AES’ AspectCTRM SE was selected after other vendor systems and in-house options were investigated. The high cost and long deployment timeframes from software vendors which required hardware, software and maintenance made AES the preferred choice. Because all AES solutions are deployed via the Web, it takes days or weeks to implement rather than months or years like older software technology. Because they’re delivered as a service, the costs are predictable with monthly subscription fees per user.

Kwasi Deh, head of commercial at Chase says “AspectCTRM was the best option for us. It matched our requirements exactly and we were already familiar with AspectDSC so it was so easy to move across.”

AspectDSC is the Decision Support Center from AES, which delivers futures prices from leading exchanges including ICE and NYMEX, and spot prices from Platts and Dow Jones. It integrates with AspectCTRM for convenient pricing of trades on the same platform.

Moving from individual spreadsheets to an enterprise-wide CTRM system was essential to keep track of trades and allow visibility across the company with users travelling regularly. AspectCTRM is fully Web-based so it can be accessed from anywhere with an internet connection.

Robert Batong-Hor, finance manager at Chase adds, “The mobile access is important to us as we travel a lot and need to share data wherever we are. With Aspect we can aggregate our activities across the company in real-time.”

AES’s minimal implementation timeframe meant that Chase’s master data was loaded into the system and they were running and fully operational just one week later, meaning no ‘down-time’ for traders and the benefits of the solution were evident immediately.

Yags Savania, sales director EMEA at AES explains, “AspectCTRM SE was the perfect solution for Chase. Having been AspectDSC users for some time it was simple to scale up to the CTRM system and start experiencing the benefits of a full trade and risk management solution in a very short time frame. The easy remote access suits their travel commitments, and there is room to scale up further as their needs change and their business grows.”