Eka Launches Extensible Cloud Platform for End-to-End Commodity Management

By AIT News Desk On Feb 12, 2020

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, 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.

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“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,” said Manav Garg, CEO & Founder Eka Software Solutions.

Wallace Leong Risk Manager, Pine Energy, said: “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.”

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.