Eka launches extensible cloud platform for end-to-end commodity management

Germany, 11 February 2020 | Press Release

Eka’s modular Platform built on Amazon Web Services, ensures faster implementations and time to value with 50+ enterprise apps across trading and risk, supply chain and financial Management to help clients accelerate digital transformation

Eka Software Solutions, a global leader in commodity management solutions, today announced the launch of its extensible cloud Platform. The cloud-native platform leverages Blockchain, Machine Learning and advanced analytics to help automate trading and business workflows through complex supply chains for commodity intensive businesses across agriculture, energy, metals, mining and manufacturing markets.

Commodity businesses today face increased price volatility, cost pressures, competition and compressed margins. Yet many firms still rely on traditional, manually intensive methods and siloed legacy systems that have not kept pace with changes in the market. According to an Ernst & Young report, recent technological advances offer the potential to tackle these new challenges. Sophisticated, platform driven solutions that connect systems, data and people help businesses stay ahead in volatile markets. Such systems help maximize the value of data, automate critical workflows, minimize supply chain disruptions and enable better and more informed decisions.

With Eka’s Platform, businesses benefit from over 50 enterprise apps, embedded with years of deep domain commodity knowledge. With advanced analytics and real time data, these apps simplify complex operations and automate manual business processes. Built to serve the entire commodity value chain – from sourcing to trading and risk management, supply chain operations across agriculture, energy, metals, mining, CPG and manufacturing markets – the apps can be independently deployed and connected across multiple asset classes for enhanced flexibility and scalability, compared to solutions built on monolithic architecture.

Eka’s open cloud Platform enables customers and partners to extend or build new applications easily with minimal or no coding.

“Eka’s Platform is revolutionizing the commodity management landscape with flexibility and speed to adapt to an ever-changing business environment. Our Platform clients are benefitting from immediate return on their investments with fast and seamless roll-out of solutions across markets and asset classes. Eka’s Platform capability facilitates digitalization of the whole commodity industry, connecting stakeholders through the supply chain with advanced analytics, and real-time decision support.”

Manav Garg, CEO & Founder, Eka Software Solutions.

“As a rapidly growing company, we knew we needed a commodity management solution that could support our current trading operations and scale with us as we grew. The best thing about Eka’s platform is that it is hosted on cloud, and it allows us to seamlessly add new functionalities without worrying about timelines or implementation failures. The system allows our traders to manage their operations end-to-end in one place. They simply log in and the platform provides all the information they need at the click of a button.”

Wallace Leong Risk Manager, Pine Energy.

Connected data means better visibility. Eka’s Platform rests on a robust foundation of connected data and APIs. The platform links isolated systems and brings data in one place in minutes, providing businesses with a single view of their data and the ability to convert it into actionable insights for better decisions.

“The customers that have implemented our platform driven solutions are seeing real value to their business. They like the agility of a modern, cloud platform that keeps up with constantly shifting markets. The platform helps them look beyond just trading and risk, to see how they can maximize their margins with extended visibility across the complete value chain,” concluded Garg.  

As digitalization continues to disrupt commodity trading marketplaces, the flexibility of the Eka platform means it can quickly adapt to changing needs. It offers a solution today for the challenges of tomorrow and is a gamechanger for commodity traders.

About Eka Software Solutions

Eka Software Solutions is a global leader in providing digital commodity management solutions driven by Cloud, Blockchain, Machine Learning and Analytics. The company’s best-of-breed solutions serve the entire trading value chain across agriculture, energy, metals and mining and manufacturing markets. Eka is reimagining commodity management with a new age architecture that breaks monolithic ETRM and CTRM systems into bite sized chunks of powerful, enterprise grade apps, thereby enabling faster implementation, adoption and decision making. Eka’s mobile-first, enterprise apps are embedded with commodity specific algorithms that empower businesses to stay on top of volatile markets by letting them scale at will, go live faster, and achieve better value for their investments. Eka has offices across the Americas, Asia, Australia, and EMEA serving 100+ customers globally across multiple commodity segments. Read more about Eka at www.eka1.com.

Other resources

Pine energy

Pine energy builds foundation for scalable and powerful coal trading operation in 12 weeks with Eka cloud platform.

Read Case study

ComTech advisory whitepaper: US gas and LNG markets, continuing challenges

US natural gas markets are the most complex in the world, with hundreds of thousands of pipeline miles, evolving areas of production, local or regional supply/takeaway imbalances and a changing demand pattern.

Read Case study