CubeLogic signs four major new clients in three months
– Extends sectorial reach and expands blue chip client base
– ‘RiskCubed in the Cloud’ consolidates SaaS credit risk solution leadership position
London & Houston – 18th June 2018 – CubeLogic, the market leading provider of business intelligence enabled risk management solutions for the energy, commodities and financial markets is pleased to announce that they have signed four major new clients in the past three months. Each deal is with a significant player in the energy, commodity, minerals and mining and finance sectors.
The first engagement was confirmed in March 2018 with a leading mining and minerals player, the first dedicated client in this market sector to join CubeLogic’s diverse and growing customer portfolio. They quickly recognised that a collaboration with CubeLogic would accelerate their internal programme to rollout a unifying technology for all their risk management and reporting requirements by at least a year. This was in no small part due to being able to deploy using the RiskCubed in the Cloud SaaS solution.
The next deal, also confirmed in March, was with a ground-breaking supply chain finance organisation, marking CubeLogic’s first client win in the finance sector. This client also selected RiskCubed in the Cloud due to the power and flexibility of the workflow capabilities to automate their key business processes. This deal closed very quickly as the successful delivery of this project is critical to supporting the fast upward growth trajectory of the client’s business. In CubeLogic they saw a reliable partner that is equally invested in that success.
In mid-May CubeLogic landed one of the largest oil, gas and power companies in the world. This engagement will deliver credit risk management, credit scoring and treasury risk management functionality across multiple geographies, with RiskCubed deployed on the client’s internal IT infrastructure. In the past, this organisation has favoured building IT solutions in-house. However, due to the need to quickly integrate across several recent acquisitions, they did not have the internal capacity to cope and instead partnered with CubeLogic. This deal is testament to the flexibility of the RiskCubed solution and is a huge breakthrough for the CubeLogic team.
The end of May 2018 was no less eventful as CubeLogic LLC, based in Houston, signed one of the largest regulated utility business’s in the USA. The first RiskCubed in the Cloud SaaS solution to be deployed in the US will replace two incumbent systems starting with credit risk and then moving onwards with a phased plan to incorporate the firm’s collateral management capabilities in subsequent phases of the rollout.
Tony Frangiamore, MD EMEA commented. “It has been a very strong start to the year and we are truly delighted with the market response to our RiskCubed in the Cloud SaaS offering. SaaS deployment is quickly becoming the industry standard approach as the benefits in terms of speed to market, dedicated outsourced development operations and application maintenance services, enhanced performance and flexibility are unquestionable. CubeLogic’s reputation is resonating as we become the provider of choice for some of biggest names in the industry. The business is growing apace, and we are committed to investing significant resources in the technology and the team to consolidate our leadership position. Adding these four landmark clients to our portfolio is further testament to our commitment to maintaining this important status.”
The RiskCubed in the Cloud SaaS solution is hosted within Microsoft’s Azure cloud and is ISO 27001:2013 certified and on a path to ISO 9001 certification later in 2018. Users of the service benefit from; Cloud Federated Integration, High Availability, Security Management and Flexibility via Horizontal and Vertical Scaling and Cost Control.