Eka recently announced a new product line, separate and apart from their other product offerings based on the InSight CM platform. This new product, Commodity Analytics Cloud, does represent a departure from other commodity management products on the market and we believe it potentially represents a new software category within the CTRM marketplace. As such, we are providing this Analyst Briefing Note update to provide some of our early views. For a more complete coverage of Eka, including a corporate overview, strategy discussion and products overview, by ComTech analysts, please refer to our most recently updated ComTech Analyst Briefing Note released in November 2014. Eka recently announced the release of a new product that it terms the Commodity Analytics Cloud. According to the company, the goal of the new application is to accelerate information flow and analysis for commodity trading and commodity management companies. The solution crosses several categories of technology and software, including integration solutions, BI tools, analytics, Big Data solutions, data cubes and cloud offerings; and as such, it’s a product that is difficult to slot in any single existing solution category.

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Eka July 2015 Update
Analyst Note Update
Eka recently announced a new product line, separate and apart from their other product offerings based on the InSight CM platform.
This new product, Commodity Analytics Cloud, does represent a departure from other commodity management products on the
market and we believe it potentially represents a new software category within the CTRM marketplace. As such, we are providing this
Analyst Briefing Note update to provide some of our early views.
For a more complete coverage of Eka, including a corporate overview, strategy discussion and products overview, by ComTech analysts,
please refer to our most recently updated ComTech Analyst Briefing Note released in November 2014.
Eka’s Commodity Analytics Cloud
Eka recently announced the release of a new product that it terms the Commodity Analytics Cloud. According to the company, the
goal of the new application is to accelerate information flow and analysis for commodity trading and commodity management
companies. The solution crosses several categories of technology and software, including integration solutions, BI tools, analytics, Big
Data solutions, data cubes and cloud offerings; and as such, it’s a product that is difficult to slot in any single existing solution category.
Leveraging what Eka calls a “Commodity Intelligence Engine”, the system uses preconfigured and/or user definable apps to provide
rapid analysis and insights into the critical issues facing business users, including physical/financial positions, P&L, risk exposures,
supply chain performance, forecasting and more. Eka has already developed a number of apps to answer the most commonly posed
questions in the commodity space and the solution provides a user-friendly interface that enables business users to develop their
own. The system can process extremely large data sets in very short time periods via in-memory processing to support real-time
decision making. Utilizing some of the tools of a Big Data solution, including the use of NoSQL, the product aggregates data from any
number of sources, including spreadsheets, E/CTRM applications (Eka’s and/or others), bespoke solutions, data feeds, and
ERP/accounting systems.
ComTech Analysis
ComTech analysts have reviewed the new solution in a short web demo provided by Eka’s leadership team and product experts.
Looking at the current landscape of available E/CTRM solutions, we agree with Eka’s value proposition that many of the current
systems in the market were designed and architected as transaction systems and there is a need for additional analytics. While the
demo was limited by the nature of the web format, we were impressed with the conceptualization of the product in the use of a
“Commodity Intelligence Engine” to contextualize data/information, perform rapid analysis and return answers to pressing business
questions via the use of prebuilt “apps”. Eka’s use of the “app” framework is a model very familiar to consumer markets and should
be an advantage for the company as they can more easily generate incremental revenues with additional development and sales of
easy-to-purchase apps, with little need to engage in the extended sales cycles that typically mark the CTRM space. A key advantage
of the solution is what we might call an “intelligent analytics hub”, which provides the ability to analyze information the way business
users ask questions, act as one data store for commodity analytics, and integrate critical commodity information that is trapped in
multiple and disparate systems (Eka’s or other vendors) including CTRM, accounting, price feeds, market data, and even client bespoke
solutions.
Eka is using several modern tools, such as NoSQL, that didn’t exist a few years back to support integration into a common commodity
analytics data store. Based upon previous experiences with companies have attempted to develop intelligent integration frameworks,
these modern tools coupled with competent integration services is key to providing the high-value analytic apps that pull data from
multiple sources.
ComTech Analyst
Briefing Note

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Eka notes that this product is the realization of a technology vision by their founder Manav Garg from his decade plus of experience
in commodity trading and has been in development for eighteen months. According to Mr. Garg and his team, they believe they have
addressed all the critical issues that one might expect to encounter in such a solution.
Though not yet in live use at a customer site, we do believe the Commodity Analytics Cloud does show good market potential,
providing a new breed of solution for gaining improved operational, financial and analytics driven insights. We will continue to monitor
the market adoption of the product and will be keen to hear from early adopters of the solution.
Opportunities
 No direct competitors for the solution.
 Eka is well funded and can afford to invest in greenfield development of additional capabilities to make product
appealing to a wide cross section of the CTRM market.
 Large base of existing customers for InSight CM product line does provide fertile opportunity for selling new solution.
 Growing market adoption of cloud solutions should enable faster market adoption.
 Agnostic deployment should open wider market for the new solution.
Risks
 Products that address some portion of the Commodity Analytics Cloud’s capabilities, such as BI tools, integration
frameworks and analytics tools, do exist. While Eka’s product does offer a singular solution with compelling
capabilities and potential advantages, the company will need to clearly and fully establish those capabilities in the
minds of potential buyers.
 Eka must develop and operationalize internal processes to support an analytics business model along-side a transaction
software model.
 “New category” products can be difficult to sell as the market will be simply unaware of its potential value and utility.
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About ComTech Analyst Briefing Notes
Commodity Technology Advisory (ComTech) is the leading analyst organization covering the Energy and Commodity Trading and Risk Management
(E/CTRM) technology markets. We provide invaluable insights, backed by primary research and years of experience, into the issues and trends affecting
both the users and providers of the applications and services that are crucial for success in markets constantly roiled by globalization, regulation and
innovation.
ComTech Analyst Briefing Notes are intended only to provide an overview of a technology, vendor or product of interest in the Commodity Trading
and Risk Management market space. These Notes are not an endorsement of any product or vendor and should be viewed only as an additional
source of information or data relating to the covered topic.
Disclosures: At the time of this writing, Eka is a customer of Commodity Technology Advisory and the company’s management cooperated in the
preparation of this ComTech Analyst Briefing Note.
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