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Enuit recently set up an office in the UK headed by Ganesh Natarajan along with half a dozen other employees. Last week, Patrick and I had a chat with David Meyers, Enuit’s President, to see how things were going generally and specifically in Europe. Enuit has just had a major Japanese client go live with ENTRADE® for its iron ore and coal businesses and is now working to implement several other metal commodities including base and precious metals and concentrates, he told us. The customer had previously been using spreadsheets primarily and the one-year long project had been quite challenging but very rewarding. “The customer is very pleased and using ENTRADE® in a production environment. The London team is now working through the roadmap for the next phase of the project.” Interestingly, the implementation involves multiple interfaces to SAP as each customer office uses a different SAP instance for different operations.
Enuit has made good progress in metals, joining a lengthening list of new CTRM entrants into metals, minerals and concentrates. David explained that Enuit now has several Asian customers using ENTRADE® for metals in China and Japan as well as a customer in North America. David sees growing demand for CTRM solutions in the metals sector. “The market started to come back in 2017/18,” he said. “The Trump tariffs and trade wars has helped create a lot of price volatility and profit taking opportunities as well.”
China is a key market for Enuit. With a strong local presence, including an office staffed largely by native employees, the company has found fertile ground for its CTRM solution. “It’s a good market. Lots of activity including imports, refining and sales but the trade war has perhaps made it a tad more difficult in the short term,” David believes, warning that “The trade war might provoke a knee-jerk reaction against foreign-owned companies especially from the US.” Other markets in which Enuit sees good activity include energy (and in particular LNG), crude oil and products, especially in the US market.
For Enuit, 2019 has been a busy year for implementations, with a number of projects coming to completion in the US and Asia-Pacific regions, helping to grow the company’s profitability, David reports. This will allow additional investment in the product next year, bringing new and expanded capabilities across “a number of product features for different commodities and markets.” From a sales perspective, and in common with a number of vendors we have talked to recently, Mr. Meyers reports a strong market and a very healthy sales pipeline particularly in the Asia-Pacific region.
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