Eka launches cloud platform for end-to-end commodity management

Today, commodity businesses face increased price volatility, cost pressures, competition and compressed margins. Yet many firms still rely on traditional, manually intensive methods and siloed legacy systems that have not kept pace with changes in the market. According to an Ernst & Young report, recent technological advances offer the potential to tackle these new challenges. Sophisticated, platform driven solutions that connect systems, data and people help businesses stay ahead in volatile markets. Such systems help maximise the value of data, automate critical workflows, minimise supply chain disruptions and enable better and more informed decisions.

With Eka’s platform, businesses can benefit from over 50 enterprise apps that consist of advanced analytics and real time date to simplify complex operations and automate manual business processes. Built to serve the entire commodity value chain, the apps can be independently deployed and connected across multiple asset classes for enhanced flexibility and scalability.

Eka’s open cloud platform enables customers and partners to extend or build applications with minimal or no coding.

Manav Garg, CEO & Founder of Eka Software Solutions, said: "Eka’s platform is altering the commodity management landscape with flexibility and speed to adapt to an ever-changing business environment. The company’s platform capability facilitates digitalisation of the whole commodity industry, connecting stakeholders through the supply chain with advanced analytics and real-time decision support.“

Wallace Leong, Risk Manager, Pine Energy, added: "As a rapidly growing company, a commodity management solution that could support its current trading operations and scale as the company grew was needed. Eka’s platform being hosted on cloud allows Pine Energy to add new functionalities without worrying about timelines of implementation failures. The system allows the company’s traders to manage their operations end-to-end in one place. They simply log in and the platform provides all the information needed.“

Connected data means better visibility. The platform rests on a foundation of connected data and APIs. It also links isolated systems and brings data in one place in minutes, providing businesses with a single view of their data and the ability to convert it into actionable insights for better decisions.

Garg concluded: "The customers that have implemented the platform driven solutions are seeing value to their business. They like the agility of a cloud platform that keeps up with constantly shifting markets. The platform helps them look beyond trading and risk, to see how they can maximise their margins with extended visibility across the complete value chain.“

As digitalisation continues to disrupt commodity trading marketplaces, the flexibility of the platform means it can adapt to changing needs, and offers a solution today fort he challenges of tomorrow.

Read the article online at: https://www.globalminingreview.com/mining/14022020/eka-launches-cloud-platform-for-end-to-end-commodity-management/