WESTPORT, CT--(Marketwired - Apr 22, 2013) - Triple Point Technology, the leading global provider of on-premise and in-cloud Commodity Management software, announced today that it was named a Leader by IDC Energy Insights in its 2013 IDC MarketScape: Energy Trading and Risk Management (ETRM) Vendor Assessment.1 IDC is a premier technology research and advisory firm with over 1,000 analysts providing expertise in over 110 countries worldwide. The "Leader" category is the report's highest ranking.
The IDC MarketScape report evaluates global ETRM platform providers through surveys and interviews with market leaders, end users, and participants. Triple Point achieved leader status because it scored very highly on "Capabilities" (current capabilities and their alignment to customer needs) and "Strategies" (how future strategies align with what customers will require in three to five years).
"Triple Point has shown consistent and impressive year over year growth, with company revenue increasing almost nine times in nine years," said Jill Feblowitz, vice president, IDC Energy Insights. "Of note are Triple Point's development for cloud, big data, analytics, and mobility, as well as its adjacent applications in supply chain, fuels procurement, chartering, and vessel operations. Accordingly, Triple Point is ranked as a Leader in the IDC MarketScape."
Triple Point's flagship ETRM solution, Commodity XL™, was recognized by IDC for several strengths, including:
- Ease and simplicity of deal capture and position management
- Low number of IT personnel required for support
- Availability of mobile ETRM applications enabling key tasks to be conducted from anywhere
- Support for in-cloud delivery, big data, and analytics
"We are honored to be recognized by one of the world's most respected research and advisory firms for our market-leading ETRM software solution," Michael Schwartz, senior vice president, chief marketing officer, Triple Point. "We've built our reputation on providing the most comprehensive, sophisticated, and innovative Commodity Management solutions, and are committed to the continued delivery of unrivalled products, services, and customer support in the years to come."
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to allow companies to independently compare the strengths and weaknesses of current and prospective vendors.
About Triple Point Technology
Triple Point Technology® is the leading global provider of on-premise and in-cloud Commodity Management software that delivers advanced analytics for optimizing end-to-end commodity and energy value chains. The company provides innovative solutions for managing all aspects of volatile commodity supply chains: trading, procurement, enterprise risk management, logistics, scheduling, storage/inventory, processing, settlement, and accounting. Over 400 customers in 35+ countries across industries including energy, metals, minerals, chemicals, agriculture, shipping, consumer products, food and beverage, retail, and manufacturing depend on Triple Point solutions. Triple Point was named a "Leader" in Gartner's ETRM Magic Quadrant in 2009, 2010, 2011, and 2012. The company employs over 850 staff in 15 offices and support centers worldwide. www.tpt.com.
1 IDC MarketScape: Worldwide Energy Trading and Risk Management 2013 Vendor Assessment, doc #EI240388, March 2013.