Eka strengthens its footprint in the Middle East

Eka strengthens its footprint in the Middle East
Published: 20 September 2019 - 4:30 a.m.
By: Carla Sertin

Eka, the leading provider of software solutions for commodity and energy trading, announced today three more energy companies have chosen its award-winning ETRM solution. The three new clients include Middle East based energy trading company Beneathco, a US-based supplier of fuel for the New York Metropolitan Area, and an energy consulting development company focused on logistics and midstream solutions.

Eka's ETRM solution was chosen because it provides greater financial visibility, a centralised location for business intelligence that eliminates data silos, and comprehensive hedging and risk management. The state-of-the-art platform also enables intelligent use of cloud, machine learning and blockchain technologies.

Beneathco’s rapid expansion in the distribution of refined products required a system with sophisticated logistics management to help them understand their position and mark to market in real-time. They needed the system to be implemented rapidly.

Eka’s capabilities and energy expertise enabled them to create an implementation plan in less than a week, ensuring Beneathco will maximise customer service, improve profitability, and gain tighter control of their business.

Deva Vasudera, chief financial officer of Beneathco, said: “Eka’s experience in our industry and their platform’s rich functionality are two of the many reasons we chose its platform. In our assessment, the team’s knowledge of our sector and their track record for enabling fast implementations set them apart from other solutions. With their platform we are looking forward to moving Beneathco to a single integrated system for managing our business.”

Manav Garg, CEO & founder of Eka, said: “Being chosen by commodity companies to help with their business efficiency is the ultimate industry recognition for Eka. We are pleased to add three more energy companies to our growing portfolio of ETRM wins since early this year, and look forward to working with them to help grow their businesses. Our goal is to deliver excellence to our clients and exceed their expectations.”

Eka’s platform allows companies to go live quickly and reduce implementation times by over 50% in comparison to other CTRM and ETRM systems. Its comprehensive suite of applications addresses the needs of small, medium and large enterprises and enables companies to scale as their businesses grow. The system’s easy integration and flexible configuration help companies connect to critical data in disparate enterprise systems quickly and seamlessly, providing a central repository of business intelligence.

Eka’s award-winning ETRM solutions are a move from monolithic traditional software to data congruence across the enterprise. Recent award wins from Energy Risk and Bobsguide Technology have established Eka as a front runner when it comes to complex Energy Trading and Risk Management solutions.

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