Eka Software Solutions is one of the best commodity management cloud platforms, declared the launch of COVID-19 Threat Monitoring app. It is a free app designed to help customers and prospective gain timely visibility of supply chain threats to recognize and reduce risk. The app provides comprehensive insights into the impact of COVID-19 by showing the statutory status of a company across countries with recorded virus cases. Depending on company data, the software immediately visualizes risk contracts and enables the identification of alternate suppliers to maintain business continuity.
As authorities across the globe battle to eliminate the Coronavirus, governments, companies, and customers are preparing for global economic consequences. As per the United Nations Trade and Development Agency (UNCTAD), attempts to combat this pandemic have begun to hit the global economy hard and could cost the world up to $2 Trillion. Never has it ever been more critical in building a global supply chain. Nothing more demonstrates the value of a digital company than a crisis that involves processing vast volumes of real-time data, advanced analytics, and a connected supply chain to be able to respond to market challenges more efficiently and smarter.
Manav Garg, the CEO and the founder of Eka Software Solutions, said: “Businesses are facing unique challenges as governments make unprecedented decisions on how to contain the virus and protect their citizens, clients, and family members. We are committed to helping commodity businesses through this period of intense disruption. As soon as we realized the impact of the virus, we turned our resources to create a new app to help mitigate the risk to businesses and supply chains. Our new COVID-19 Risk Monitoring app is available free of charge for 90 days.”
The creation of a digital supply chain brings together fragmented teams, processes, and knowledge to establish a common reality. This excludes the need for manual data processing and offers the knowledge companies need to improve their decision-making and operational performance. Using real-time data, it provides in a matter of minutes, more in-depth market information, detailed views of exposure, and possibilities of potential risks to a company. This allows companies to manage competitive markets and adjust to ever-changing circumstances.
Garg also told that Eka’s cloud infrastructure would be built to adapt to multiple applications on a single platform to modifying business needs. This enables to react to the new buyer and market quickly needs to address the threat of COVID-19. He said that the platform uses cutting-edge technology, like Artificial intelligence, Machine Learning, and Blockchain, to provide a Unique Risk Management Solution to guide businesses through unforeseen events such as this terrible outbreak.
Additional general features provided by Eka’s implementation are focused on the functionality of the Eka cloud-native platform as a whole, including personalized reports, customized notifications, user-defined dashboards, enterprise-grade protection, and the ability to incorporate disparate data sources seamlessly. The platform allows more efficient use of data to improve decision-making and is developed specifically for commodity industries like agriculture, electricity, metals, and mining, and packaged consumer goods (CPG).
The Eka COVID-19 program extracts information relevant to the virus outbreak easily and safely from reliable sources for real time information. This data was analyzed along with supply chain data using sophisticated computational algorithms for machine learning. The software helps consumers to continuously assess the risks that the virus poses to their companies and offers realtime information on the effect of inventory, procurement, and distribution contracts through geographies, goods, business partners, buyers, and suppliers.
Eka Software Solutions is a global brand in providing digital commodity management solutions equipped by Cloud, Machine Learning, Blockchain, and Analytics. Eka’s best-of-breed solutions serve the entire trading value chain across energy, agriculture, metals, mining and the manufacturing market. This company is reimagining commodity management with a new age architecture that breaks monolithic ETRM and CTRM systems into bite-sized chunks of powerful, enterprise grade apps. The process enables faster implementation, adoption, and decision making. The mobile-first, enterprise apps are embedded with commodity specific algorithms that empower businesses to stay on top of the otherwise volatile markets. Eka helps in letting them scale at will, go live faster, and achieve better value for their investments.