Reports EKA – Reimagining Commodity Management (CM)

CTRM Briefing Note EKA – Reimagining Commodity Management (CM) Overview & 2018 Results Eka recently announced their results for 2018, offering the opportunity to review progress the company has made in developing and marketing their Digital Commodity Management (CM) Platform. In recent press releases and in follow-up conversations with Mr. Manav Garg, CEO and founder, the firm and Mr. Garg noted the following highlights of the preceding six months: • • • • 25 new license deals, 21 of which include the companies underlying CTRM solutions The new license sales have been split roughly equally among ags, metals and energies customers The company’s workforce has grown by 70 new employees during the period, primarily in the areas of engineering, technical support and customer services The company announced 100% successful go-lives and noted they believe they have reduced implementation times vs traditional systems by as much as 50% Perhaps one of the most significant points from this information is the 21 new license deals involving both the cloud solution and the underlying ETRM/CTRM capabilities. Based on ComTech analysis, this level of success places Eka near the top of ETRM/CTRM vendors for the period, including those that sell only traditionally deployed solutions. Eka’s Digital CM Platform Eka’s Digital CM Platform is a product grouping that includes traditional trading and risk management solutions (for energy, ags, or metals), commodity management (CM) extension (including sourcing, operations and collaboration), and a cloud-based analytics and reporting solution (first announced in 2015 and referred to in previous ComTech Analyst notes as the “Commodity Analytics Cloud”). The various components – including the TRM products and the cloud-based analytics/reporting solution - are separable and available for licensing jointly or as discrete applications. The company’s cloud solution leverages the now familiar concept of “apps” to provide high-value functional, analytic and reporting capabilities across multiple commodities and industries. With an API to the underlying transaction capture system (either Eka’s, or one or more competing solution), the cloud-based platform aggregates data into a NoSQL database, facilitating rapid processing of all types of data – both structured and unstructured. Additionally, the solution employs a cloud-based in-memory database to ensure rapid data processing and return of critical information and insights. According to the company, Eka has completed connections to more than 15 different systems including ERPs, market price feeds and accounting systems, and though connections to ETRM/CTRM systems of other vendors may require some development, once connected to the Eka cloud platform, pre-built apps can be downloaded and immediately deployed to enhance the capabilities of those systems. The solution also includes the ability to rapidly build out new connections via the provision of tools for users to map target data structures of their internal systems. February 2019 At a Glance Company Background Founded: CEO: Offices: Employees: Website: 2004 Manav Garg Norwalk CT, US Bangalore India Richmond UK Calgary CAN Adelaide AUS Singapore Dubai, UAE 350 (Est.) Products Eka TRM (Energy, Ags, Metals) Eka Source Eka CSM Eka Control Systems Eka QMS Eka Connect (Farmer, Supplier, Customer) Eka AppStore Eka AI Market Profile Customers by Geography North America South America Europe Africa AsiaPac including Aust. 55% 3% 13% 7% 22% Customers by Market Segment Ag Producers Ag Processors Ag Traders Energy Producers Energy Traders Metal Producers 20% 25% 20% 8% 7% 20% Financial Results Not Available – EKA is a privately held company and does not disclose financial information The approximately 50 apps currently available span the value chain for all markets Eka covers, including energies, ags & softs, and metals & concentrates. A full listing of Eka’s available apps can be seen at © Commodity Technology Advisory llc February 2019 1