Bangalore, India (PressExposure) February 04, 2010 -- Eka Software Solutions, the leading provider of commodity software, announced today that it has won the NASSCOM Innovation 2010 Award under the "Best Market Facing Innovation - Business Model & Business Process" category. Eka will be felicitated for its outstanding contribution to the Indian IT sector at the forthcoming NASSCOM India Leadership Forum 2010 in Mumbai on the 10th February 2010.
Eka wins this award on the back of its highly innovative offering for Commodity Trade & Risk Management (CTRM) software. Their solution helps commodity companies better manage their business, improve risk management risk, and reduce costs, thereby improving P&L. Traditional software vendors in the space have focused on the financial aspects of commodities. Eka's innovation, on the other hand, has brought to light the importance of the physical supply chain of commodities and the associated risks. Eka's holistic approach towards solving business problems benefits companies obtain the right balance of visibility and control over the physical and financial aspects of commodity transactions, an approach that is very unique and highly valued in the marketplace.
Congratulating the winners, Mr. Som Mittal, President, NASSCOM, said, "There is a huge unfulfilled market in India's billion plus population for several unique product and services innovations in fields that include healthcare, education, financial services, retail, e-governance etc. To realize this huge opportunity, it is important that innovation becomes an essential part of our culture as we move into the next decade."
Adds Manav Garg, CEO & Founder of Eka: "The physical commodity trading segment experiences continuous tremors as a result of upheavals in the economic scenario, and we at Eka felt that a lot of the risk associated with physical commodity management can be controlled, mitigated with the right software. Our vision paid off and some of the largest global companies in this business are using Eka's Commodity Trade & Risk Management Software to their advantage. In my opinion, innovation is directly related to customer consciousness and all of Eka's efforts stem from here."