Eka Software Solutions, the leading cloud platform for supply chain management, is set to increase its global headcount with more than 100 new hires, representing a 25 percent workforce increase.
The company’s expansion results from an increasing number of commodity management and direct materials enterprises selecting Eka’s Cloud Platform to digitize their supply chains and enhance their resiliency.
With increasing demand for digitalization and end-to-end, cloud-based solutions, Eka experienced a banner year for growth in 2020, achieving a 60% increase in Annual Contract Value (ACV) while adding $70 million in Total Contract Value (TCV).
Rajesh Jagannathan, Eka Chief Operating Officer said the company’s rapid growth coincides with an inflection point within the commodity and direct materials space, as companies increasingly shift towards digital solutions for greater resilience and control.
“We are executing on our vision to deliver an end-to-end platform for commodities and direct materials across agriculture, energy, metals and mining with new product innovations developed and added on a rolling basis. As we ready ourselves to deliver our expanded offering, we are actively growing our team to meet the needs of our discerning customer base,” Rajesh said.
In the coming months, in line with its goal to provide best-in-class, integrated supply chain solutions to customers, Eka will add more offerings on its Cloud Platform. This includes enhanced commodity trading & risk management (CTRM) solutions and E-sourcing for direct material procurement to help customers improve business resiliency. With increasing focus on ESG reporting and management, Eka will also launch a suite of new sustainability and ESG solutions to visualize ethical sourcing and carbon emissions, monitor strategic use of energy and resources, reduce compliance risk and maintain best practice employee health and safety.
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Eka has a strong focus on product innovation, injecting nearly 30 percent of its profits into research and development. With organic customer growth, combined with new market opportunities through its product roadmap, Eka will expand its customer-facing workforce across product development, sales, delivery and support over the next ten months.
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