In recent years, the commodities markets have become more complex and volatile. Yet the commodity management software available was not always up to the challenges of meeting the needs of commodities companies. In the last 20+ years, first-generation ETRM software solutions and then second-generation CTRM software solutions evolved to support more commodities and an increased functional footprint. But these solutions were mainly transaction-based solutions with limited analytics and support for real-time decision making. These systems were not equipped to handle the increasing quantities and types of data.
To remain competitive, commodities companies need to be able to make better, faster, smarter decisions with the huge quantity of data that is available to them. The requirements of commodity management platforms are changing from essentially an after-the-fact recording and reporting system to one that provides real intelligence and value back to the business. Responding to these needs requires next-generation software solutions. The generational shift from transaction only systems to next-generation commodity management software with advanced analytics is a big shift for first- and second-generation vendors.
To meet the current needs of commodities companies, Eka has taken an entirely different approach from the traditional first- and second-generation solutions. Early on, Eka recognized the need for Smart Commodity Management, those systems that focus on decision support analytics.
Smart Commodity Management: Those systems that provide real-time, meaningful and actionable information to traders, risk managers, and executives to enable them to view, analyze, and simulate positions, market movements, and risk metrics.
The key to next-generation Smart Commodity Management solutions is analytics. Analytics has become paramount. To remain competitive in today’s complex and volatile markets, commodities companies need next-generation systems that include management control and decision support to make better, faster, fact-based decisions.
Make no mistake — it is still critical that these solutions include all the traditional features of transaction-based systems with support for all types of commodities. Part of Eka's Smart Commodity Management is InSight CM, an end-to-end transaction management platform suitable for a wide range of commodities in the agricultural, manufacturing, metals, and energy industries.
The need for Smart Commodity Management solutions has led to Eka's launch of Commodity Analytics Cloud, an advanced analytics solution that brings commodity specific intelligence to all business users. For the first time, analytics is open to everyone. The combination of InSight CM and Commodity Analytics Cloud provides the operational and analytical solutions that commodities companies need to manage in today’s complex and volatile markets.
Commodity Analytics Cloud allows business users to focus on data analysis instead of data collection. This solution takes analytics out of the realm of the IT department and provides a series of apps specifically designed for the commodities markets, addressing high value business issues. Commodity Analytics Cloud meets the need our customers have for real-time analytics to make better business decisions.
The benefits of Commodity Analytics Cloud include:
To learn more about Commodity Analytics Cloud: