In the first six months of availability, seven enterprise customers in the US, Europe, Australia, Asia, and Canada have licensed Commodity Analytics Cloud.
Eka Software Solutions, the leading global provider of Smart Commodity Management software, announced today the growing momentum of its advanced analytics solution for commodities companies. Commodity Analytics Cloud provides traders, procurement professionals, risk managers, analysts, supply chain/logistics managers, IT specialists, back office personnel, and executives previously unavailable insights into key business areas so they can take action before competitors. Customers using Commodity Analytics Cloud span a diverse range of industries and geographies and include a US food company, an Asian fertilizer company, a European metals processor, an Australian grains company, an Asian agriculture company, a Canadian energy company, and an Australian mining company.
“We are seeing tremendous response from the market to Commodity Analytics Cloud,” said Michael Schwartz, EVP & CMO at Eka. “The adoption by a wide variety of companies throughout the globe is evidence of the value of analytics. In this period of uncertainty and volatility, the need for fact-based decision making has never been greater.”
Commodity Analytics Cloud is a cloud-based, advanced analytics solution delivering apps specifically designed for the commodities markets that address high value business issues. These apps provide an end-to-end analysis of the entire enterprise, spanning multiple categories including P&L, procurement, risk, and supply chain.
"By bringing together data from multiple sources into one integrated system, companies are transforming their performance," said Mumu Pande, VP Engineering at Eka. “At many companies, data is stored in multiple systems and then exported into spreadsheets for periodic analysis. This hinders an organization’s ability for effective decision making and is highly prone to errors. The Commodity Analytics Cloud platform manages huge volumes of data with unparalleled processing speed, enabling users to run optimizations, scenarios, and other analyses to gain answers to their most important questions immediately, instead of waiting a week or longer.”
With Commodity Analytics Cloud, users can download the specific apps needed for their area of the business, and even customize apps for their individual needs. Analytics are no longer restricted to the realm of the IT department or other specialists.