Eka enhances CTRM and launches new solutions to accelerate digital transformation for commodities and direct materials

New York, 25 February, 2021 | Press Release

Eka enhances CTRM and launches new solutions to accelerate digital transformation for commodities and direct materials

New York, 25 February, 2021 | Press Release

Eka enhances CTRM and launches new solutions to accelerate digital transformation for commodities and direct materials 

New York, 25 February, 2021 | Press Release

Eka brings together people, processes, and technology on its cloud platform with new CTRM, e-sourcing, sustainability, and supply chain solutions

Eka Software Solutions,  the leading cloud platform for commodities and direct materials today announced new digital offerings on its  Cloud Platform to help customers improve business resiliency. The new solutions spanning across CTRM, E-sourcing, Sustainability and Direct Material Procurement, will enable customers to digitize key business processes to support new ways of working by bringing people, processes, and technology together at one place.

The inability to address the breakdown in value chains is driving a digital revolution in commodity and direct material businesses. According to McKinsey, lack of digitalization led to 73% of businesses surveyed encountering problems in their production, distribution, and supplier base. Operating with legacy systems and manual processes, while accommodating a remote workforce, further compounded the challenge making it more important than ever to shift to cloud driven solutions for continuity and profitability. Eka is committed to digitalize every step of the supply chain to provide commodity and direct materials intensive businesses with the agility they need to stay ahead of the constant disruptions.

Through expansion of new features and solutions on Eka’s Cloud Platform, customers will benefit from more visibility and resilience to their supply chain processes across procurement, sales and risk management, and sustainability reporting. Customers can leverage these 100% digital offerings to drive transparency and agility in their business to support new ways of working through built in education, easy drag and drop interface, remote access and support, coupled with solutions to better engage the supplier network. Generally available today, the new products on Eka’s Cloud Platform include:

  • Enhanced CTRM and ETRM solutions to help commodity businesses gain from the speed and agility they need to assess opportunities faster, spot risk sooner, and increase profitability.
  • E-sourcing solutions to improve productivity across critical direct spend categories by enhancing operational efficiency, ensuring compliance and control, enabling digital collaboration, automating source-to-pay processes, and increasing spend visibility.
  • Sustainability and ESG solutions to visualize ethical sourcing and carbon emissions, monitoring strategic use of energy and resources, reducing compliance risk while ensuring employee health and safety.
  • Integrated solutions for supply chain across logistics, stockyard and warehouse management allow agriculture, metals and mining businesses to build resilience and stay agile with real-time visibility.

“We wanted to invest in a digital foundation to build a more agile supply chain practice that is essential to serving our customers across 30 countries. We knew with Eka’s Cloud Platform we could drive future growth, gain deeper visibility, and build a more agile risk management practice to stay ahead of the constant market disruption. Eka’s solutions were instrumental in helping us digitalize key sales trading processes across our supply chain that allows us to make better and timely decisions.”

Abdullah Basudan, Futures Desk Senior Manager, Savola.

“While profitability will always be paramount, success in the current environment calls for prioritizing agility and flexibility in business processes as demonstrated by events last year. Eka provides businesses the tools to move fast and address the changing needs of market forces by leveraging cloud and automation on its cloud platform that was built to serve commodities and raw materials industry.”

Manav Garg, CEO & Founder, Eka Software Solutions.

Along with the new solutions, Eka is also unveiling completely new features that enable customers to benefit from one platform to:

  • Leverage automation as foundation to drive business resilience with workflows that enable customers to free up resources and focus on more strategic efforts.
  • Accelerate new ways of working with a simplified interface that lets users accomplish tasks more easily, thereby leading to faster adoption and faster ROI for customers.
  • Digitally engage with supplier networks with self-service tools for better collaboration, execution, and sustainability transparency.
  • Take advantage of an agile platform, purpose built for commodities and direct materials with an integrated suite of solutions on a cloud foundation that allows businesses to stay agile to constantly adapt to the next normal.

The simplified scalability of Eka’s Cloud Platform is clearly advantageous as it allows businesses to add new users, customers, and capabilities across geographies at a cost and timeframe 50% lesser than industry peers. The platform’s new age architecture drives discrete and highly configurable solutions that allow businesses to introduce new functionalities on demand. Its true integration with a wide range of third-party systems and data sources lets businesses quickly deploy these solutions to address the complex functional requirements they face across the supply chain lifecycle.

About Eka Software Solutions

Eka Software Solutions is a global leader in providing innovative solutions that help customers digitize and improve their direct materials business functions across agriculture, energy, metals, mining, and manufacturing industries. Built to accelerate customer’s digital journey to the cloud, Eka’s platform-driven solutions enable businesses to quickly adapt and overcome complex challenges in trading and risk, supply chain, business collaboration and financial management. With over 400 employees, Eka supports more than 100 customers globally and has proven industry expertise in helping customers achieve digital transformation, solving complex business challenges in an environment of continuous change. Read more at www.eka1.com.

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