Eka’s Position App Helps Large Biofuels Company Gain Real-time Consolidated View of Position
Biofuels are manufactured largely from agricultural commodities, but they are consumed in the traditional fuel supply chain. Therefore, biofuel prices are driven by the intricate balance between crude oil and commodities fundamentals. This mix lends itself to a complex trading and hedging proposition, which makes it important to have real-time, accurate visibility into data.
The solution was deployed in just six weeks, providing benefits in under two months. Eka’s Position app eliminates manual reconciliations, enabling the company to view exposure at the click of a button instead of waiting days for manual reports. It provides one, accurate visual representation of position in real time and delivers a detailed flexible position view by region, profit center, and strategy.
With the four-day reporting cycle reduced to under one hour, executives now have access to the right data at the right time. This has helped the company make informed decisions.
It has also eliminated any chance of human error while aggregating, blending, and analyzing inputs from all data sources.