Eka Expands Further into US Agriculture Markets with Mitsubishi Subsidiary Agrex
Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, today announced further expansion into the US and global grain markets. Eka’s growth continues apace with Agrex Inc., a wholly-owned subsidiary of Mitsubishi Corporation, selecting Eka for the company’s agricultural commodity trading and risk management. Eka’s end-to-end platform for agri-commodity management, Eka.Agriculture, will be deployed for Agrex’s US grain origination and exports.
Robert Barr, Vice President at Agrex, said: “With Agrex’s growth over the past several years, there was a requirement for a faster and more comprehensive risk management system. It was important that we have a solution that could provide an integrated view across our domestic and international operations, handling everything from grain terminals and logistics to exports, with a high degree of flexibility to transact financial hedging and risk management, as well as highly-sophisticated reporting tools. Agrex management established a Steering Committee which evaluated the needs of the company and researched the market for a suitable software solution. Eka.Agriculture was the best fit for the requirements of Agrex.” He adds: “Eka clearly understands the complexities of the physical markets and are providing us with a complete farm-to-marketplace solution and an enterprise-wide view of our trading and risk management. The system architecture also lends itself to quicker and easier deployment than other systems we evaluated.”
Agrex will deploy Eka.Agriculture, Eka’s flagship product, for its complete grain operations. It will enable Agrex to get a real-time view of its positions and exposures across domestic and export businesses, while bringing speed and efficiency in grain handling and storage by streamlining the complete supply chain.
Eka.Agriculture is a comprehensive Commodity Trading and Risk Management (CTRM) software solution which offers a complete solution for managing the entire agriculture trade life-cycle. The solution is designed to address the requirements of different participants in the agricultural supply chain, including grain sourcing, marketing, trading and processing.
Manav Garg, CEO of Eka, commented: “We are delighted that Agrex has selected Eka.Agriculture to manage their whole supply-chain needs. Agrex now has an integrated view of all its grain procurement, storage, price, marketing, delivery, risk management, mark-to-market and P&L calculations. Eka’s global reach and customer base mean that we are able to respond to customers according to their specific and individual business segment and trading requirements.”
Agrex Inc. is a wholly owned subsidiary of Mitsubishi Corporation. The company’s strength is in its alliance with Mitsubishi Corporation and its worldwide network of overseas offices located in approximately ninety countries, providing market information, support, and numerous trade opportunities. As a full-service agricultural commodity trading company, Agrex handles grain, oilseeds, feed ingredients, hay, and many other food ingredients from origination and marketing to financing and logistics.
About Eka Software Solutions
Eka is the global leader in providing Smart Commodity Management software solutions. Eka’s analytics-driven, end-to-end 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.