Global Agriculture Company Gains Better Visibility into P&L Position with Eka
As global markets become more complex, understanding and responding to market shifts as fast as possible is crucial for success. Farmers, traders, originators, and manufacturers need an accurate understanding of the root cause of changes to P&L to maximize profits. Given the large number of factors that contribute to P&L change, and the interdependencies between them, attributing a cause is challenging. Collating and analyzing the data from disparate sources takes considerable time and resources without producing comprehensive results. This leads to a large percentage of changes in the ‘unexplained’ bucket, hampering decision making.
With the solution in place, the company has much greater visibility into P&L changes, as unexplained movements have been reduced from 30 percent to near zero percent. So far, the solution has handled more than a 100 End of Day (EoD) and End of Month (EOM) runs; and the company has explanations for change in position in almost 100 percent of the runs. Over 8000 contracts, 500,000 market prices (Grade Diff), and more than one million inventory and transaction records and other various datasets are processed in every run.
Reduced P&L attribution time: Eka has reduced the P&L attribution time from a 20-man-day workflow to a 15-minute automated process, freeing analysts to work on high value projects.
Pre-built connectors: The app provides prebuilt connectors to internal and external data sources, analyzes that data with user-specific validations, and provides a single accurate picture of the truth quickly and more accurately. As a result, decision making is faster and better.
The app provided immediate benefits. For example, the app was able to capture and notify inflated values for cotton trading in a particular month, thereby allowing for it to be tackled suitably. The app results are published to traders on a daily basis, which was not possible earlier.