Solaris Completes 12-week Deployment of Eka’s Cloud-based CTRM Solution
Eka’s InSight CM-Agriculture covers physical trading, logistics, inventory, settlements, derivatives, P&L, risk exposure, analytics, and reporting for the company.
Eka Software Solutions, the leading global provider of cloud-based Smart Commodity Management software solutions, announced today that Solaris has deployed Eka’s CTRM solution for agriculture to support rapid growth in increasingly complex markets. The implementation was completed in just 12 weeks, and enables Solaris to more accurately control commodity trading and risk management.
Solaris Commodities S.A. was established in December 2011 in Switzerland. The company is involved in the international trade of agricultural commodities such as: milling wheat, feed barley, corn, oilseeds, and peas. Solaris Commodities is the largest trader of Russian corn.
Solaris is using Insight CM to manage both physical and derivative trading, enabling them to manage all types of contracts and multiple pricing methods, as well as logistics, accounting, and mark-to-market valuation functions. InSight CM also provides advanced risk reporting and analytics, improving risk management for the company.
“Eka’s easy-to-use system can be accessed anywhere thanks to its cloud-based functionality,” said Scott Wellcome, risk manager at Solaris. “The move away from spreadsheets improves efficiency and reduces errors, providing increased confidence from management and stakeholders. The benefits of using Eka’s CTRM software as we look to grow in an increasingly complex market are immeasurable.”
“More and more agribusinesses are realizing they need cloud-based CTRM platforms that provide real-time data, advanced analytics, and enterprise-wide transparency to thrive in volatile markets,” said Sanjay Singla, general manager of CTRM at Eka. “Eka’s ability to deploy our CTRM solution in under three months is unprecedented, and our customers choose Eka because of the quality of our solutions and our rapid deployment. Today, 90 percent of Eka’s new customers are deploying our software in the cloud. Solaris is a great example of an innovative company using technology to take its business to the next level. We look forward to helping them fulfill their growth objectives as we continue to collaborate in the years to come.”
Eka has always had the strongest agriculture software, with four of the top five agriculture companies using the solution across North America, Europe, and Asia. InSight CM captures, analyzes, and manages physical trading, procurement, logistics, bulk handling, processing, enterprise risk, and compliance across all agriculture commodities.
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.