Reimagining commodity management
16 January 2019
Manav Garg, CEO and Founder, Eka Software
Commodity trading as we know it is changing. Margins are flatlining, trading companies are consolidating, and markets continue to be volatile. At the same time, multiple waves of tech disruptions are changing the core of commodities – the trading value chain.
The underlying technologies driving traditional commodity trading are yet to undergo a digital transformation, as experienced by other industries. Commodity companies are still using legacy systems with siloed point solutions, which don’t talk to each other and use spreadsheets to extract crucial data. Extracting actionable insights becomes cumbersome, and often leads to missed opportunities, ineffective co-ordination in the supply chain, mismanagement of critical assets and inefficient communication with internal teams and external stakeholders.
To emerge as a winner, commodity businesses need to connect their systems, data and people across the value chain. Converging on one platform could help unleash significant opportunities with greater visibility and a deeper understanding of their operations, thus empowering businesses to make better decisions faster.
Welcome to the new era of commodity management
Eka’s commodity management platform is designed to help companies in the commodity industry to flex, grow, and adapt to market forces – from sourcing to trading and risk, and supply chain all the way to downstream.
Driven by cloud technology and machine learning, Eka’s is the only digital commodity management platform that breaks monolithic commodity trading and risk management (CTRM) systems into bite-sized chunks of apps. These domain-rich apps are modular and bring with them the power of CTRM, letting businesses adopt solutions to move at the speed of markets by going live in weeks and not months. In-built algorithms and connectors in Eka’s digital commodity platform make it possible to add more applications and expand quickly, without having to invest in a fully-fledged trading system.
Eka’s digital CM platform enables commodity businesses to thrive in complex markets with insights that are in-depth and in real-time, and most importantly, backed by data rather than instinct.