2020 was a fascinating year for CTRM software especially as seen from the analysts’ perspective. As we entered the year, ComTechAdvisory was already noting that the business environment was changing quite rapidly and that this was having an impact not only on CTRM software adoption rates but also the kind of solutions that companies were selecting.
In particular, more agile cloud-based solution vendors were benefiting, largely at the expense of the large, traditional monolithic CTRM products. However, when the COVID-19 pandemic started and lockdowns began, many of these changes were accelerated and several new challenges emerged. There is no doubt that at the time of writing and for at least another 6-months or so, the situation will remain difficult with respect to COVID. Yet the pandemic and its direct impacts are not the only challenges facing commodity firms.
The effect of these issues has been to accentuate certain trends in CTRM software. Sometimes, these challenges are driving related initiatives like digitalization, which in turn, has a further impact on CTRM in commodity firms. As such, the market for CTRM solutions is rapidly changing, in terms of desired software capabilities and features, but also in how that software is delivered, implemented and used. As 2021 begins, it is worthwhile to examine some of the more important trends that we are seeing and to consider what they may mean for the not-too-distant future.
For more industry insights like this, visit our partners at https://www.ctrmcenter.com/
