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:
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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.)
EKAPlus.com
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 https://www.ekaplus.com/solutions/eka-app-store.
© Commodity Technology Advisory llc
February 2019
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