Eka Software Solutions, the leading global provider of Smart Commodity Management software solutions, announced that it has been named a “Major Player” in the IDC MarketScape: Worldwide Energy Trading and Risk Management (ETRM) 2015 Software Vendor Assessment (doc #EI255242, April 2015). This report recognizes Eka’s product development efforts and identifies strengths of Eka’s InSight CM platform. Of particular note is Eka’s in-memory technology that enables intraday visibility of P&L.
“With the acquisition of Encompass Technology, based in Calgary, Canada, in 2013, Eka entered energy trading with Encompass’ mature natural gas and power and nascent oil offerings,” said Jill Feblowitz, Vice President at IDC Energy Insights. “The company is backed by Silver Lake Kraftwerk, the GP Group, and Nexus Venture Partners and has attracted seasoned leaders to its board and leadership team in the ETRM space. An impressive set of senior leadership with ETRM experience has made the move to Eka. Eka is positioned as a Major Player in this IDC MarketScape.”
Eka’s energy solutions manage financial derivatives and physical contracts for crude and refined products, natural gas, natural gas liquids (NGL), liquefied natural gas (LNG), power, coal, and biofuels. The InSight CM platform is an advanced, fully integrated ETRM software solution covering trading, risk, processing, scheduling, logistics, and accounting.
“It’s become clear when new prospects are evaluating ETRM software solutions that they are tired of the same old solutions from the same old vendors,” said Michael Schwartz, Executive VP & CMO at Eka. “It can only be described as ‘old vendor fatigue.’ Many vendors have not updated their first-generation software but are instead trying to add functionality on top of already dated platforms. Eka’s modern, multi-commodity solution provides real-time information and enhanced decision making for effective business management.”