16 mid-to-large sized commodity businesses adopt Eka’s Digital Commodity Management Platform in the first half of 2018 to drive new levels of growth
- Eka’s revolutionary Digital Commodity Management (CM) Platform allows commodity businesses in agriculture, metals and energy to go-live at a fraction of CTRM time and cost.
- Eka digitizes commodity value chain end-to-end on its Digital CM Platform with powerful “out of the box” apps, building real time workflows from sourcing to trading, risk, logistics and manufacturing.
Traditional CTRM systems are now outpaced by the adoption of Eka’s Digital Commodity Management (CM) Platform. The Digital CM Platform is a path-breaking solution designed for the Commodity Industry. It delivers powerful “out of the box” workflows through apps preconfigured to every commodity asset class that can be implemented at a fraction of traditional CTRM implementation time and cost.
Eka’s solution is witnessing rapid adoption across the commodity industry, with 16 players ranging from large trading firms and co-operatives to new-age agri-companies getting on its Digital CM Platform in less than six months. Driven by Cloud, Machine Learning and Blockchain, Eka’s Digital CM platform provides powerful commodity trading and risk management solutions in the form of modular apps.
Commenting on the implementation, Tim Greenway, Vice President – Margin Optimization Strategies, Foremost Farms USA, an early adopter of Eka’s new Digital CM Platform, said, “At Foremost Farms we seek partnerships that help us maintain sustainable margins throughout our entire supply chain and put us at a competitive advantage. We look forward to continued growth and development with EKA’s support, as we move toward our risk management goals.” Eka’s platform approach allows commodity businesses to scale in a modular fashion by starting with apps they need, say in trading and risk, and then adding more apps like Supplier Connect that interlink workflows as the business grows.
Commodity Businesses across Agriculture, Energy and Metals and Mining going digital with Eka
Agriculture: Agri-enterprises are exploring newer ways to drive growth by reaching beyond trading and risk to add transparency to sourcing, supply and manufacturing. Eka’s powerful apps help these businesses to manage trade and risk, govern quality, trace food origin and provide better services to farmers, empowering farmers to grow more with less.
Agri-customers currently using Eka’s Digital CM Platform range across the board – from industry disruptors like Farmer Business Network, to co-ops like Foremost Farms and Tereos, trading operations, and government bodies like Coffee Board of India. While the needs of these customers vary from trading to sourcing intelligence, being on the Digital CM Platform helped them to reduce implementation time by half and achieve rapid business growth.
Metals and Mining: Understanding material quality at its source and tracking its movement through the value chain in real time is a key imperative in the metals and mining industry. Automation is giving rise to improved trading methods resulting in new offtake and pricing models.
Prior to adopting Eka, its customers were using a combination of spreadsheets and legacy systems to manage key operations. With Eka’s Digital CM Platform, companies are managing various asset classes, from concentrates and base metals to refining, on one single platform with the ability to visualize quality at source and risk to position. With Eka QMS (Quality Management System), businesses are now able to track their material accurately from its source all the way to the final destination in real-time and increase overall throughput. Recent customers adopting Eka’s Digital CM Platform for metal and mining apps include Arrow Metals and Trading, Bengalla, Glencore Clermont, T-Ports and Amrun.
Energy: The energy industry is witnessing rampant change, from deregulation and volatile prices, to rise of affordable renewables and LNG. The sudden explosion of data generated makes it harder for energy businesses to adapt to industry changes without huge investments in systems, and IT resources.
Designed for every asset class in energy, Eka’s Digital CM platform allows energy businesses to leverage pre-built data and market information to adapt to market changes efficiently. The Digital CM Platform allowed Eka’s energy customers to go-live rapidly scaling at the speed of markets with little to no IT investment. Some of Eka’s recent customers in this space include MexGas Trading, TransCanada, AOT Energy and Blackline Energy Services.
“The Digital Commodity Management Platform is a faster, simpler and smarter Commodity Management suite with more than 50 apps all focused on increasing productivity,” said Manav Garg, CEO & Founder of Eka. “It is designed ground up, keeping in view our customers’ needs. They who want to stay agile, improve their profitability and advance their future goals for growth in the long term. The platform’s rapid adoption by 16 commodity customers in less than six months is a testament to the value it delivers through digital transformation of the industry in an affordable, and scalable manner,” further added Manav.
About Eka’s Commodity Management Platform
Eka’s modern commodity platform is designed for commodity companies that need to flex, grow, and adapt to market forces. It is the only digital commodity management platform that breaks monolithic CTRM systems into bite-sized chunks of powerful apps that work across the commodity value chain, thereby enabling faster, data-powered decisions. Learn more about Eka’s Digital Commodity Management Platform.
Eka is the global leader in providing Commodity Management solutions driven by Cloud, Blockchain, Machine Learning and Analytics. Eka’s modern Digital Commodity Management Platform enables companies to efficiently and profitably meet the challenges of complex and volatile markets.
The company’s best-of-breed solutions manage commodity trading, enterprise risk, compliance, procurement, supply chain, operations, logistics, bulk handling, processing, and decision support. Eka partners with customers to accelerate growth, increase profitability, improve operational control, and manage risks and exposures. Eka is a team of 315 staff with offices in the Americas, Asia, Australia, and EMEA, serving a rapidly growing global client base across multiple commodity segments. Learn more at www.ekaplus.com.