Eka Software Solutions to manage the trading of crude and refined products in the Middle East

Eka Software Solutions declared its first crude and refined products client in the Middle East.

The leading provider of commodity management solutions has signed Ultimate Oil & Gas DMCC (Ultimate) to provide the brand new version of their specialist, cloud driven commodity management platform.

The new execution provides a isolated end-to-end business solution to manage Ultimate’s complete trading operations.

With 25 clients signed in 2018 this is a significant client win for Eka in the MEA.

Eka’s fully scalable solution will allow Ultimate to lower risks and expand profitability through automation and real-time analysis of trading opportunities in the market.

Ultimate Oil & Gas DMCC is a crude oil, petroleum, diesel and jet fuel provider in West Africa, headquartered in Dubai, with operations across Africa, Middle East and India. 

The company’s fast expansion in West Africa and UAE requires a real-time system that allows growth without having to add new resources and keeps all staff and management connected with Ultimate’s business in real-time.

“We looked at a number of other companies, but Eka’s crude and refined products Platform was unquestionably the best fit for us. As our business grows, our requirements develop with it and we need a solution that is modern, easily deployable, mobile and backed by a solid team. The team at Eka revealed a deep industry knowledge and a customer-centric focus,” said Kanwar Ratra, CEO Ultimate Oil and Gas.

He further continued saying, “The real-time analytics provided by Eka’s Platform is a isolated and special opportunity for us to make informed decisions quickly, which is particularly important in crude and refined products trading.”

“The commodity industry has traditionally been underserved in terms of innovation. Ultimate choosing Eka’s digital platform to measure their business is an evidence that the industry is ready for a latest modern, digital solution that enables them break free from heritage systems and move forward with flexible solutions operated by data and cloud that now allows them scale in weeks as against to months,” said Manav Garg, CEO & Founder Eka Software Solutions.

Ian Evans, VP Middle East and Africa at Eka, stated, “The energy sector is witnessing a rapid growth in the Middle East and we are glad to be working with Ultimate, our first ever client in energy liquids in this area. Commodity businesses should be able to locate applications based on the needs of their business, not the limitations of their systems. Ultimate’s need for an end-to-end solution driven by the company’s expansion is exactly why Eka’s Platform is the right fit for them.”

Eka’s solution will benefit Ultimate in four different ways:

• Cloud: Operated by cloud, Eka’s Platform provides Ultimate visibility into every part of their business while they are on the move with apps that include Mark-to-Market, Position, Risk and Monitoring and more.

• Mobile: Eka’s pre-built apps are designed to deliver a holistic, detailed, current picture of the state of the business, allowing Ultimate to stay up-to-date anywhere, anytime and allowing them to share information on the go with their teams on ground.

• Increased productivity: By integrating its trading and risk operations on one platform, Ultimate will be able to remove manual processes completely. Reports that used to take a time of three weeks to create are now a created in just a few minutes.

• Scalable: Ultimate will gain from the Platform’s architecture which will enable them to go live in weeks and add functionality in the future without having to undergo a painful and lengthy execution process.

Eka extended its operations in Dubai last year to support its rapidly growing customer base for its Digital Commodity Management Platform. As part of this attempt, Eka appointed industry veteran Ian Evans as vice president-MEA in Dubai to setup its business operations and lead company growth across energy and agriculture markets in Middle East and Africa. Dubai is Eka’s 8th international office, having established its presence with offices across Australia, Canada, India, Singapore, USA and the United Kingdom.

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