Eka grew 60% in Annual Contract Value in 2020 as enterprises adopted new digital capabilities on its Cloud Platform
NEW YORK, Feb. 17, 2021 /PRNewswire/ -- Eka Software Solutions, the leading cloud platform for commodities and direct materials today announced stellar growth as customers selected its cloud platform to enhance supply chain resiliency. With a strategic focus on customers, Eka recently revamped its technology platform to align to their priorities, resulting in new solutions and significant growth of over US$ 70 million in TCV.
Throughout 2020, enterprises sought to digitalize their supply chain and end their reliance on legacy systems. Business leaders now understand that the ability to connect the dots between systems, data and people is key to maintaining continuity, remain competitive and ensure sustained growth.
Eka is leading this shift with the only Cloud Platform built to accelerate digital transformation for enterprises in direct materials and commodity supply chains. The cloud company recently introduced an integrated suite of solutions to help customers mitigate risk and respond quickly in volatile markets. With real-time visibility and automation of critical processes, customers can dynamically adjust operations and better manage disruptions.
"Businesses have significantly accelerated their move to digital. Our customers demanded new ways of working and best of breed technology and we were ahead of the curve. Our Cloud Platform and deep industry talent allowed us to respond swiftly and deliver on our customers' key priorities, while helping them maintain business continuity and gain tangible value," said Manav Garg, CEO and Founder, Eka Software Solutions.
In 2020, Eka quickly adopted a remote implementation methodology leading to 100% delivery of 20 new projects remotely amidst the COVID-19 lockdown that included customers such as Cargill, Alvean, Mex Gas International, Fujax, CHS Broadbent and TPorts.
Eka was also recognized by Risk Market Technology Awards as the best trading system for commodities and ranked among the top five energy solutions provider by Chartis research.
As part of its continuous innovation philosophy, Eka invested 30% of its revenues on its Cloud Platform in line with customers' priorities and future technologies. Key focus areas include E-sourcing, Financial Management, Sustainability and Direct Material Procurement.
Eka is a global leader in providing solutions to digitize direct materials businesses. Its Cloud Platform enables businesses to quickly adapt and overcome complex challenges in supply chain and financial management. Read more at www.eka1.com.
Head Global Communications
Eka Software Solutions
SOURCE Eka Software Solutions