Eka Software Solutions, a global provider of advanced commodities software, today announced that it is set to launch a new, ground-breaking risk management platform for commodities - Eka.Risk Platform - which has the potential to transform how commodities firms view their existing risk management practices.
For the first time, a wholly unified approach to measuring and controlling enterprise-wide risk is available to commodity companies, which means data from disparate sources such as individual trading systems, ERPs and spreadsheets are encompassed in one single, easy to manage view. Consequently, much greater investment and focus has been given to achieving increased efficiencies for business integration, resulting in a smoother and simpler implementation process.
Eka.Risk Platform consolidates positions across purchases, trade contracts, price and basis risk, inventory, derivatives and FX, for example, to ensure commodities companies improve existing risk strategies regardless of time, trade and position information.
Dr. Gary M. Vasey of Commodity Technology Advisory commented: "Eka.Risk Platform offers the market a solution to a critical issue - the need for a fully-integrated and enterprise-wide approach to commodity risk management, irrespective of underlying CTRM systems operating. Commodity Technology Advisory research points to a growing need for commodity companies to adopt such solutions."
Diversified business units across disparate geographies are now much more easily manageable with global risk policies applied into a single consolidated view. Powerful dashboard visualisations provide risk managers with analytical advantages such as instantly understandable organisational performance metrics and tools for in-depth analysis. Eka.Risk Platform supports a "24x7" trading environment via web-based decision making, including mobile devices.
Manav Garg, founder & CEO Eka, said: "The launch of Eka.Risk Platform marks a momentous step forwards for commodities companies. Managing risk is one of the most crucial and complex activities for companies that deal with commodities. Yet many organisations struggle to define, measure and act in time on risks and exposures. Eka.Risk Platform is a revolutionary step forward, severall orders of magnitude beyond the market's current conception. Naturally, I am thrilled that Eka is at the forefront of bringing about such radical change."