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As Previse Systems Grows – What Lays Behind its Success?

In a relatively short space of time Previse Systems has gained mind share in the industry, according to our latest vendor perception study, and already has more than twenty customers. It has also managed to penetrate several different segments with its solution set including traders & merchants, producers & generators, and utilities. Geographically, it has customers across much of western Europe and into the Middle East. I recently asked its Chief Revenue Officer, Marc Zumstein, about this remarkable success and trajectory. “We believe we have built the functionality and performance capability that the market is looking for… and we are easy to do business with and nice people,” he added with a smile.

In truth, Previse has innovated a new approach in terms of focusing on its knitting and allowing others to augment it and build an ecosystem of solutions available through an app store. It has also ridden the wave of shorter-term trading, massively increased trade volumes and a need for real-time position and access to data. It has built out behind the energy transition and so can handle the entire renewables’ side of the business. “We can handle all aspects of how assets and long-term positions are represented in the software as well,” he told me. He adds emphasis on the openness of the platform and ecosystem – “the Coral ecosystem provides a framework for user’s own development of apps as well as third party partners available via the app store.  Partners can market their apps in our store and customers can look at what is available. As of today, we have 13 Previse apps and 42 third party apps in the store,” he said.

Coral is a modern cloud-based ETRM or ETM with a set of basic risk features like real-time positions and limits, and we also offer a basic VaR,” he said. “We focus consciously on our core capabilities and expertise and allow partners to help build out the ecosystem in their core areas. We focus on the trade life cycle as well as the infrastructure and technical openness.” He sees this as Previse’s key selling points as well. Previse also benefit from being able to target the entire market from bottom to top tier as the primary ETRM and to augment or supplement legacy in larger players that have a sunk cost dilemma.

Marc looks to the technology revolution taking place in the industry with the move to the cloud in which it has been able to demonstrate a practical innovative approach as one reason for its success. However, he also points to the principals’ long track record in the industry, knowledge and connections as playing a key role. “We have a start-up mindset,” he told me. “We see what is right to do and we do it. In fact, we have a very good corporate culture that is all about collaboration with our customers.”

 

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