Germany, February 12, 2020: Eka Software Solutions, leading global provider of commodity management solutions, announces at E-world energy&water 2020 today a significant increase in energy customers in 2019, driven largely by its cloud platform. This growth reflects a seismic shift in the commodity industry as energy businesses move to a more digitized, cloud-based enterprise platform to manage their trading, risk and supply chain operations.
As energy markets continue to grow more complex and volatile, many energy companies are turning to platform driven ETRM solutions to gain superior speed and agility to succeed, improving business and operational efficiency.
Driven by its award-winning commodity management platform, Eka enables its customers to go live in weeks and on-time as opposed to delayed or failed implementations businesses typically face with legacy ETRM systems. Some recent implementations included Middle East-based energy trading company Beneathco and Ultimate Oil & Gas, US-based supplier of fuel for New York Metropolitan Area, and an energy consulting development company focused on logistics and midstream solutions.
These businesses chose Eka’s award-winning digital commodity management platform for its ability to realize faster ROI with plug-n-play enterprise apps that reduce implementation time by 50%, and its growing suite of 50+ applications that provide businesses instant scalability, allowing them to pick and add any functionality on demand. The platform’s extensibility enables users to build their own applications on the platform to create added value. This was a critical factor in customers making the shift to Eka.
Manav Garg, Founder and CEO, Eka Software Solutions said, “Revenue and customer growth are the proof points of an important shift we are seeing with energy clients to SaaS platform capabilities and is a testament to our unique platform-based approach to modernizing commodity management. We see tremendous opportunity in energy to digitalize legacy operations to improve agility and speed. We will continue to build future-ready solutions that help our customers realise rapid ROI, at the speed of changing markets.”
Last year Eka won multiple accolades in recognition of its cloud platform for ETRM, most notably by Energy Risk as Technology House of the Year 2019 and by Chartis as they ranked Eka among Top 3 Global Energy Vendors.
Commenting on Eka’s platform, its customers said:
Deva Vasudera, Chief Financial Officer of Beneathco: “Eka’s experience in our industry and their platform’s rich functionality are two of the many reasons we chose its platform. In our assessment, the team’s knowledge of our sector and their track record for enabling fast implementations set them apart from other solutions. With their platform, we are looking forward to moving Beneathco to a single integrated system for managing our business.”
Kanwar Ratra, CEO Ultimate Oil and Gas: “We looked at a number of other companies, but Eka’s crude and refined products Platform was unquestionably the best fit for us. As our business grows, our requirements evolve with it and we need a solution that is modern, easily deployable, mobile and backed by a solid team. The team at Eka demonstrated deep industry knowledge and a customer-centric focus. The real-time analytics provided by Eka’s Platform is a unique opportunity for us to make informed decisions quickly, which is especially important in crude and refined products trading.”
Eka’s platform-based model provides comprehensive applications that address the needs of small and large enterprises alike. The platform’s easy integration and flexible configuration help companies bridge critical data from disparate enterprise systems quickly and seamlessly, providing a central repository of data. With a single source of truth, and the ability to view any aspect of the operation instantly, commodity businesses can achieve exceptional speed and the ability to make more informed decisions, faster.
Eka 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.
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