The Largest Manufacturing Company in Oman Trusts Eka Solution for Managing Price Risk Using Derivatives
Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announces the release of its customer case study highlighting the success of Eka.Metals its CTRM platform at Oman Cables Industry (SAOG).
Oman Cables Industry (OCI) the largest manufacturing company in Oman and a leading manufacturer and exporter of various types of cables and transmission lines had implemented Eka.Metals for price risk management to accommodate the growth in business volumes and bring about greater efficiency in its operations.
With Eka.Metals in place, spreadsheets are gone along with the uncertainty in OCI’s risk position. Hedging is now executed in a consistent manner with risk management policy across its business units and reports are readily available for management to monitor. OCI’s risk managers have the tools to dynamically manage the physical price risks and updating hedges being executed.
Eka.Metals ensures that hedge positions match the physical price risks, calculates accurate P&L, and generates statements to comply with hedge accounting reporting requirements. This results in a more efficient hedge management program.
Mr. M. M. Vaidya, General Manager of OCI stated “Eka helps us manage the growth of our business streamlining our business processes with the risk management controls while providing greater visibility over our operations. The dashboard and analytical capabilities help us make faster, better informed decisions and is vital to meet hedge accounting reporting. Eka staff is knowledgeable about our industry and has proven to be a trusted partner.”
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.