How Companies Gain Measurable Value with Eka’s Cloud Platform
February 10, 2020
Promising value is easy. Delivering it can be challenging. When we created the Eka Cloud Platform, our goal was to deliver a platform that would enable our customers to harness the power of digital transformation to improve efficiency, become more agile, and stay ahead in rapidly changing markets. We want to help you contain volatility and gain an advantage through digitalization.
Today, 100 of our clients with over 4,000 users rely on Eka’s Cloud Platform, and the results they have achieved are impressive.
Pine Energy is a privately-owned coal trading enterprise operating in Asia. Founded in 2015, they soon realized that mining through emails and updating spreadsheets every time they wanted to evaluate operations was not going to work. They were growing too fast, and there was too much data to review.
They implemented Eka’s platform in just 12 weeks. Eka’s initiative, easy-to-use interface enabled rapid adoption and they can create the reports they need in seconds without relying on IT or other specialists.
- They generate P&L reports anytime they need at the click of a button. The data is 100% accurate, providing a clear and accurate understanding of P&L movement.
- They have up-to-date visibility into operations, so they can proactively identify issues and take appropriate actions.
- The trading desk now operates on one shared version of the truth, so business decisions are based on the most accurate and current information.
What’s the value of going live in 12 weeks? Faster return on investment. You don’t have to wait months to start benefiting from the software. Having an accurate, real-time picture of operations enables Pine Energy to respond quickly to changing markets, spot anomalies and problems, and react faster. Solving problems faster saves time and money.
Global Grain Company
A global agriculture trading company was launching trading operations in the Europe. They needed a trading system up and running in just a few months, and the system had to be robust because they were anticipating over 1 billion transactions during the busy harvest season.
They implemented Eka’s platform with apps for trading and risk management, including Physical Trades, Derivatives, Accounting, Logistics and Inventory, Position and Mark to Market, P&L Explained, and VAR. They went live in 16 weeks and were fully prepared to handle 1 billion transactions when the harvest season arrived.
In this situation, going live fast was essential. If they had missed the implementation deadline, their new business would not have been ready when the harvest season started. They would have lost weeks or months of revenue, missing profit targets.
Australian Grain Cooperative
A large grain cooperative in Australia was struggling with slow and error-prone reconciliations. Their manual reconciliation process required 82 steps and 11 spreadsheets and consumed 20 working days each month.
They implemented Eka’s platform and reconciliation apps and turned that 82-step process into an automatic report that runs at the click of a button. This saves 20 person-days every month and avoids mistakes due to human error. Everyone has a real-time view of the business any time they need it.
How does saving 20 person-days provide value?
- Reconciling invoices and broker statements in seconds gives them a better handle on cash flow.
- Getting accurate results in seconds enables the cooperative to quickly solve problems – avoiding escalations that might occur if problems were left unaddressed.
- Diverting resources from manual reconciliations to more value-add tasks provides new opportunities for growth. Business analysts can evaluate new opportunities – entering new markets, choosing new trading partners, and expanding geographies – and suggest new ways to build the business and increase revenue.
Eka’s Cloud Platform delivers the agility and speed you need to thrive in today’s evolving markets. Eliminate manual processes and move faster and smarter.
Mary DeFilippe spends her days creating engaging content – blogs, white papers, articles, and more – that helps readers better understand new technology. She can frequently be found walking around the office listening to heavy metal music while pondering ideas for her next blog.