EKA Software Solutions: Managing Risks Successfully
Date: Monday , November 01, 2010
Commodity markets are treacherous because of their complexity and high degree of risk and uncertainty. To manage this complexity and risk, firms that buy, sell and trade commodities must be able to view and manage their physical commodity positions and their total financial exposure on a real-time basis. The right technology can provide substantial differentiation and competitive advantage to the firms that deploy them.
“What is required is a robust, specialist commodity trading and risk management system to handle all this. It is not enough to have risk management solely covering trading. Operational, regulatory, and counter party risks must all be managed on a common platform,” says Manav Garg, CEO and Founder of Eka Software Solutions.
Realizing the market opportunity, Garg established Eka in 2004 with venturecapital funding. Today Eka is a market leader in software for global commodity markets, well known as the provider of software for managing physical trading, position, P&L, risk, logistics and finance operations for agriculture and metals markets. It boasts a team of more than 150 specialists in consulting, product engineering, QA and support. The use of the latest software technologies means Eka delivers against key customer requirements such as solution flexibility, scalability, performance and security.
Despite being only a six year old company, Eka has grown rapidly to 200 people, with customers and staff on four continents. Eka has received several awards and accolades, most notably the NASSCOM Innovation 2009 Award in the “Best Market Facing Innovation - Business Model & Business Process” category at the NASSCOM India Leadership Forum 2010. It has also been included in 2009’s Deloitte Technology Fast 50 program for India. Today Eka has a growing customer base in Europe, the U.S., Asia and Australia which includes Hindalco, Louis Dreyfus and Australia Wheat Board.