If there’s one historic certainty in the commodities industry, it’s that everything is uncertain.
This is particularly true today, when an ever-changing business landscape of technology and geopolitics can present unique challenges to those vying to stay competitive. Your CTRM application is a business-critical platform, yet due to its complex nature, finding a reliable and reasonable run-operate support option poses a deceptively simple quandary: Do you outsource, or not?
If a business decides not to outsource, they will often try one of two options:
Option 1: Hire an individual who is already experienced in the application with a high level of capability.
Option 2: Hire and train a recruit with minimal CTRM experience and train them up to the challenge.
The problem with this binary choice is that neither scenario is ideal. Here’s why.
Hiring for Experience
Perhaps the first option seems the more viable of the two. You hire a staff member who already knows the application inside and out, with experience in day-to-day CTRM requirements. On a scale of one to 10, their application capability ranks a 9 or 10.
This person may start out strong, but their capability will likely dull over time due to their myopic focus on your internal use case. They will start to lose the broad frame of reference native to consulting practices, focus on the status quo and, as a result, recommend fewer optimizations for your users. When this happens, user satisfaction – from the front office to the back office – tends to wane for both your experts and users alike.
Building from Scratch
With that in mind, perhaps you decide to avoid the expense and eroding efficiency of a ready-made expert, instead opting to train a specialist internally from a “blank slate.” With the right training, this raw recruit could learn the application precisely the way your company uses it. In turn, you could call upon them to build your own dedicated application support team from the ground up.
While it might seem like a cost savings on the surface, this method is also expensive. Missteps and false starts aside, as your staff’s capability increases with time and experience, these individuals will become highly attractive to consulting agencies that look for the same, rare skill set you invested in them. With the lure of higher pay and benefits elsewhere, this may lead to large amounts of turnover and a never-ending cycle of: recruit, hire, train, lose—recruit, hire, train, lose, repeat.
Now Consider The 3rd Option—Value Creed’s Outsourcing for CTRM Run Operate Support
This leads us back to our original question: Is it better to outsource your CTRM services, or not? As we’ve explored, full-time staffing, whether expert or newcomer, presents a host of challenges that are often problematic or resource-intensive in a way that still doesn’t provide the kind of consideration your business needs.
Value Creed enables you to flexibly define your CTRM Run Operate support needs so your team is optimized, not replaced.
We give you the best of both worlds. You are guaranteed world-class expertise, the effective “Navy Seals” of the industry, that will not decline with time. We continually invest in our experts so they remain innovative in the application across a variety of industries. Plus, you’re not hiring one person across all capabilities front office to the back office – with experience where it matters most to your business.
Our team has deep competency in all of the following functional, business process and technical operations areas of CTRM applications so you can rely on one partner as your business needs evolve.