Chartis & Energy Risk rank Eka among top 3 energy global vendors

Source: press release, 23 October 2019

Eka ranks ahead of traditional ETRM providers, marking a shift in buyers’ preferences
Eka ranks ahead of traditional ETRM providers, marking a shift in buyers’ preferences (illustration: Eka Software Solutions)

Eka was ranked first in “innovation” and third overall in the Chartis Energy Risk 2019 Top 25 Vendor Evaluation for its ground-breaking Commodity/Energy Trade & Risk Management (C/ETRM) software. Chartis independently assessed nearly 100 companies in this major vendor evaluation, analysing the latest needs of energy trading firms and how advancements in technology are meeting these demands. The final report covers the top 25 companies in this market sector.

Manav Garg, CEO & Founder Eka Software Solutions, says, “We are delighted with the results of this assessment. It reflects our commitment to creating modular, future-ready solutions for the energy industry that can be quickly deployed and adapted to a business’ changing needs.”

The companies featured in Energy25 are software vendors from across the energy space and a comprehensive sweep of leading market participants was conducted as reflected in the results. Eka’s cutting-edge platform, driven by a new age architecture that is fundamentally designed to provide flexibility and complete scalability with a 100% secure, cloud-based, modular approach, awarded it the recognition as the top Innovator in this category.

Customers can select from a series of powerful enterprise apps to match their business needs and easily extend functionality as they grow or diversify. The solutions are delivered in the form of apps that are designed to meet the nuances of different energy asset classes and cover the complete value chain, from trading and risk to supply chain and downstream operations.

Garg continues, “It is gratifying to know that this independent assessment has confirmed that our developments and vision are in line with market expectations for the future. We will continue to work in close partnership with the commodities sector and develop our platform to ensure it continues to offer a leading, future-ready solution with a clear and rapid return on investment.”

Sidhartha Dash, Research Director, Chartis Research, describes Eka as an “Innovative cross asset solution that is more flexible than a lot of traditional Energy trading and risk management solutions and is well aligned with some of the major directional shifts happening in the energy markets in general, and energy trading specifically.”

The Platform’s flexible nature negates the need for costly custom development and provides a solution that is easy to implement and offers strong, reliable performance with well-tested and proven application blocks. It is cloud and mobile native, ensuring information is always available and teams can collaborate efficiently to maximise business benefits.

Eka’s platform supports open APIs, enabling users to build their own custom applications, and uses advanced analytics and algorithms to continually assess disparate data sources. Any changes that could impact business strategy are immediately updated and reported. The system consumes data from C/ETRM, CRM, spreadsheets, Internet of Things (IoT) sensors, ERP systems and external sources such as weather report and market feeds.

Read the full Energy25 report.