NEW YORK, April 7, 2021 /PRNewswire/ -- Amid significant growth in its commodity and direct materials businesses, Eka Software Solutions, the leading cloud platform for supply chain management, will dramatically increase its global headcount with more than 100 new hires, representing a 25 percent workforce increase.
Eka's expansion results from an increasing number of commodity and direct materials enterprises selecting its Cloud Platform to digitize their supply chains and enhance resiliency.
With increasing demand for digitalization, 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).
Eka has a strong focus on innovation, injecting nearly 30 percent of its profits into research and development. With customer growth, combined with new market opportunities through its product roadmap, the company will expand its workforce across product development, sales, delivery and support over the next ten months.
Rajesh Jagannathan, Eka Chief Operating Officer, said, "Eka is focused on redefining the digital experience for our customers by delivering an end-to-end platform for commodities and direct materials across agriculture, energy, metals and mining. As we ready ourselves to deliver an expanded product offering, we are actively growing our team to meet the needs and exceed the servicing expectations of our discerning customer base."
In line with its goal to provide best-in-class, integrated supply chain solutions, Eka will also add more offerings on its Cloud Platform. This includes enhanced commodity trading & risk management (CTRM) solutions and E-sourcing for direct material procurement. With increasing focus on ESG reporting, 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 and mitigate compliance risk.
Earlier this year, Eka also rolled out Mission Digital, a comprehensive business and technology strategy to accelerate digital transformation for its customers. Through an agile platform, Eka applies an innovative cloud-driven approach delivering automated workflows to drive business resiliency, a simplified interface to support new ways of bringing employees, processes, and technology together, and instant access to multiple buyers and suppliers across the global supply chain.
Eka is a global leader in providing cloud driven solutions for commodity and direct materials businesses to overcome complex challenges in supply chain and financial management. Read more at www.eka1.com.