Bangalore, India, August 15, 2009 --(PR.com
)-- Eka Software Solutions, the leading provider of multi-commodity trade and risk management solutions, announced that Oman Cables Industry (OCI), one of the leading and fastest growing cable manufactures in the Middle East, selected Eka’s CTRM solution to manage their hedging and risk management operations.
OCI selected Eka after a comprehensive evaluation of all available options in the market. “We are an organization that sets high targets and standards and this is reflected in our volume growth which has been constant since inception in 1987. So for a leading metal buyer like us, Eka offers a technologically and functionally superior, out-of-the-box offering. It would help us go-live fast while streamlining all our business processes – easily import physical trade and delivery information from our ERP, have the necessary LME and Forex functionality, bring visibility on price risk, positions, P&L and exposures, meet hedge accounting requirements, and then provide dashboard and analytical capabilities to assist in decision making and analysis. Eka is a company we are happy to partner with. We are confident that with their product, our operations will have the necessary support for our long term growth needs.” says Oman Cable Industries.
The OCI win is another reflection of Eka’s growing capabilities as the leading provider of software to commodity buyers, sellers and traders. Metal buyers such as OCI can realize significant operating efficiencies by using the Eka solution. With a high focus on industry vertical solutions backed by strong IT and domain expertise, the Eka solution is able to reduce the complexity of multiple technologies and platforms, while bringing visibility and control over business processes.
Mr. Manav Garg, CEO & Founder of Eka Software Solutions adds, “We are very pleased to have OCI on board. They are a very important customer for us, and we will provide them with all the support they require for their long term hedging and risk management needs”.
EKA’s Commodity Trading and Risk Management (CTRM) solution for Metals provides a single platform for managing operations across base metals, concentrates, ferro-alloys, steel and scrap. This superior solution helps manage end-to-end operations across the metal supply chain, including mines and producers, fabricators, cable manufacturers, traders and merchants, as well as scrap dealers and recyclers. The solution contains comprehensive functionality across physical trading, LME, position, mark to market, P&L, risk management, physical operations, finance, business intelligence and regulatory compliance.
About Eka Software Solutions
Eka Software is a leading provider of software for the global commodities markets. Our products and services help companies that buy, sell or trade commodities manage the challenges of volatile markets and 24x7 global operations more efficiently. We see ourselves as partners in our customer ’s growth, working with them to improve operational control, increase profitability, accelerate growth and manage risks and exposures. Today, Eka is a 200+ member strong team that caters to clients across a cross section of commodities, segments and sizes, including global giants like Louis Dreyfus, Noble, AWB and CHS.