Enuit announced that it had opened an office in London only at the beginning of 2019. The office is headed up by Ganesh Natarajan. Two years later, the vendor is apparently thriving. “We have continued to grow, signing new clients including two last year, and we have continued to grow the team based here as well adding several more staff, and we are in the process of recruiting additional people at the moment,” Ganesh told me. Like all vendors these days, Enuit has been implementing new clients remotely but the lockdowns don’t appear to have slowed the market down at all. “I think our brand is increasingly well known in this market partly perhaps due to the award we received in Asia last year,” he said. “We are receiving many inbound inquiries from prospective customers and business partners, and have gained considerable momentum in this market.”
Ganesh also believes that against a background of steadily rising commodity prices more or less across the board and home-based workforces, demand is good and growing. “Paper- or Excel-based working doesn’t have the flexibility needed on the one hand while others are realizing that their current solution isn’t fit for purpose and doesn’t really support a home-based workforce,” he adds. “We see prospects looking for more open solutions with an open data model that can fit into their organization.” Ganesh sees workflow and business process optimization is growing in importance in aiding that home-based workforce to be effective without the old face-to-face interactions of the past. He also sees companies wanting clearer KPIs, analytics, and metrics to not just manage risk and exposures, but also see how the workforce is doing. He, therefore, believes that Enuit has advantages in the market by virtue of being able to offer greater access to data, comprehensive workflow, and the ability to set up risk KPI’s. He also sees that some larger prospects are looking to rationalize systems and since Enuit is a multi-commodity solution, he expects to have opportunities there.
ComTech shares the view that the home-based workforce is helping shift priorities when it comes to solutions in terms of mode of implementation as well as functionality and features. We see workflow and RPA tools as well as openness as being key. Additionally, we think that the integration between CTRM and accounting is another area of focus as many such integrations often last longer and cost more than the CTRM implementation. Enuit is steadily building out its broader Commodity Management capabilities including accounting, said Ganesh. “In terms of accounting integration, we have taken a lot of steps to blur the lines between CTRM and CM including using microservices, workflows, opening up the system much more, and ensuring a smoother handshake between accounting and CTRM,” he told me.
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