14th May 2018
Welcome to our 2018 newsletter. A brief update on what has been happening and a look at what’s in store for the coming months. Some of the highlights include…
Q4 2017 saw a significant milestone for CubeLogic as we opened an office in Singapore to service the needs of our ever-growing customer base in the APAC region. Headed up by Karl Sees we have invested significantly in order to provide a truly global service with offices now in London, Houston, Bangalore and Singapore.
Lee Campbell, CEO, CubeLogic, comments, “Setting foot in Singapore is a logical step in our ambitious business growth plans. Being a major commodity hub and a strategic location, we look forward with much enthusiasm to leveraging the geographical area’s talent pool, infrastructure and favourable economic dynamics.”
Three months on from the office opening, Karl has established the business operation and is now full steam ahead on growing our client base. Karl is a leader in credit, counterparty and market risk management with over 25 years of practitioner experience in the finance and energy sectors. As well as heading up the Singapore business Karl is also responsible for driving the product roadmap and engaging with clients to ensure their needs are prioritised.
Cubes in the Cloud launch
Early 2018 saw us launch ‘Cubes in the Cloud’, our state of the art Software-as-a-Service solution for Risk3 which enables users to consolidate, analyse, manage and mitigate their risks in a cloud hosted environment. This latest SaaS offering augments the broad spectrum of risk management solutions which CubeLogic are already providing to some of the world’s leading organizations. ‘Cubes in the Cloud’ was developed as a result of inbound enquiries from existing and potential clients.
CubeLogic are also delighted to announce the signing of their second and third ‘Cubes in the Cloud’ clients after the solution had already been implemented into live production by a global energy utility. This deal consolidated the strategic relationship between the two organizations which was initiated in 2010.
Lee Campbell, CEO commented. “This is an important step forward for CubeLogic and we see SaaS becoming the preferred method of adopting innovative, new technologies. With increased regulation and market volatility, firms need to be agile and use technology which supports their ever-changing business needs. The benefits of deploying software in this way are such that upgrades, and changes can be implemented swiftly, there is far less disruption to business-as-usual and costs are reduced. Our Risk3 solution already has extensive functionality across credit, market, liquidity and regulatory risk management and our roadmap is packed with new features over the coming months as we continue to invest in our solutions. More importantly, we already have our first live client on the ‘Cubes in the Cloud’ platform.”
We showcased ‘Cubes in the Cloud’ at eWorld in Essen in February and the response was extremely positive.
We followed up our launch of Cubes in the Cloud with process and security improvements and are proud to announce that we have successfully achieved our IS0 20017:2013 certification following an extensive independent audit our of systems and processes.
ISO 27001:2013 is an information security standard published by the International Organization for Standardization (ISO), the world’s largest developer of voluntary international standards, and the International Electrotechnical Commission (IEC).
The ISO 27001:2013 certification applies across the CubeLogic business solutions.
Significant business development
The end of 2017 saw us sign our largest deal to date and this meant that we have had to focus our efforts on ensuring we were well equipped to deliver against all of our clients’ growing requirements. As a result we have invested significantly in the team and the technology.
The fruits of labour continue to show as we started 2018 with two significant additions to our growing client base. A global mining company and a financial firm both becoming fully paid up members to the ‘Cubes in the Cloud’ club! The mining company is using our SaaS solution for credit-risk and the financial firm for client on-boarding, KYC and Credit Risk management with automation of financials from CapitalIQ and KYC information from D&B.
Product roadmap update
Towards the end of 2017, we initiated changes to Product Management, and in particular our approach to managing our product roadmap. This resulted in holding our first European and US Advisory boards, where we presented our proposed roadmap priorities and engaged in significant debate and feedback. This resulted in the well-received 2018 roadmap plan presented at our January User Conference. We are now full steam ahead for an ambitious set of deliveries throughout 2018 (no pressure!). The functional improvements include but are not limited to:
- Tool for physical tracking and assigning of LCs
- New improved UIs for counterparty, limit and exposure management
- Migration of the portal to HTML5 for cross browser/device access
- Pivot table enhancements
- Financial Accounting Cube
- Generic rules engine
- Enhancements to letters of credit, financial spreading
- Standard interfaces to BvD, S&P Capital IQ and D&B
The technology innovation also continues with further use of the Microsoft Azure platform, continued use of Power BI, the introduction of WebAPIs and our first Tabular Cubes.
#1 in EnergyRisk Software Rankings 2018
CubeLogic has been ranked number one for the coveted Credit Risk category in the Energy Risk software rankings! Thanks to all our customers for voting for us. This is truly a great honour for us and we’re proud to continue to serve you.