Opening for business today under new name Aspect Enterprise Solutions, the energy markets software as a service (SaaS) solutions vendor OILspace is using the name change to signal expansion into broader commodities markets. The move follows a successful drive into the metals market last year, and the launch of a family of mid-market products.
"We've built tremendous equity and respect for the OILspace name over more than ten years of dealing with some of the world's largest corporations," explains president and CEO Steve Hughes. "But it's time to move the brand on and we needed a new identity to better reflect our expertise outside of just oil and energy."
The company’s markets information, trading, decision support and line-of-business management solutions are entirely Web based, need no heavy up front investment and can be deployed and running in as little as one day.
The Aspect name is already used across many of the company's solutions. The remainder of the portfolio will be changed over time to fall in line, starting with the renaming of the energy market information and decision support portal OILwatch. This becomes Aspect DSC Oil, complementing the companion Aspect DSC Metals for international metals markets.
Aspect Enterprise Solutions is the only SaaS vendor with products that meet the needs of all sizes of companies from small trading houses through to global conglomerates. Its solutions are used and trusted by over 400 organisations in more than 60 countries - including nine out of ten of the world's largest oil companies - to transact more than $10Bn of business every day.
Their 100% SaaS architecture means the company's solutions are delivered sooner, go live quicker, cost less and have lower IT infrastructure and resource demands than traditional packaged software alternatives.
“As Aspect Enterprise Solutions we’re gearing up for a whole new phase of growth both in volume of business and in market reach,” says Hughes. “We’ve more than demonstrated our ability to serve the world’s largest companies working in one of the toughest industries there is. It’s now time to take that expertise onto a broader stage.”
