THAILAND – Mitr Phol, Asia’s biggest sugar and bio-energy producer, has selected Eka Software Solutions to provide its cloud-native platform to manage risk across the company’s global hedging and pricing portfolios, digitizing its operations.
The investment in new technology was part of Mitr Phol’s digital transformation to add more value to sugarcane in line with the Thai government’s ambitious targets for growth in the coming years.
With six sugar mills located in Thailand and a total crushing capacity of around 20 million tons of cane per annum, Mitr Phol is the world’s third largest sugar producer.
A growing business, Mitr Phol sought a solution to improve the efficiency of its operations while reducing operating costs and maximize profit.
With the complex pricing models of Mitr Phol’s growing sugar trade, they needed a solution that was easier to scale without incurring the cumbersome and expensive process of ERP customization to address Mitr Phol’s dynamic business needs.
Following a review of potential solutions, Mitr Phol chose Eka’s cloud platform for its functionality, flexibility, and ease of use.
“We needed a flexible solution and were looking for an innovative solution to match our ambitions. Eka’s platform allows us to adapt as our business needs change,” said Ittaya Sirivasukarn, Chief Digital and Technology Officer, Mitr Phol Sugar Corp.
“The cloud-driven solution enables us to meet our current requirements while allowing us to scale when we must. Eka was a right technology partner for us. Using a single platform with application-based solutions, Eka offered the specific commodity trading expertise, functionality and ease of use we were looking for.”
Mitr Phol investment in Eka’s cloud platform is also aimed to support its adoption of the Bio, Circular and Green (BCG) economy model which is designed to increase the quality and value of products through new and innovative technologies.
Driven by cloud, Eka’s platform offers extensibility and adaptability to unique and changing business requirements. It uses cutting-edge technologies that include Artificial Intelligence and Machine Learning to contextualize and analyze data across disparate sources, providing clear visibility across the supply chain while enabling more informed decisions.
“Commodity businesses face unprecedented challenges today. Legacy systems have not kept pace with dynamic markets and unprecedented volatility, and businesses are adopting cloud to improve efficiency and decision making,” Manav Garg, CEO and Founder of Eka Software Solutions, said.
“Eka is excited to partner with forward thinking businesses like Mitr Phol that are at the forefront of driving digital transformation to stay on top of the disruption while keeping their business positioned for growth in its aftermath.”
Mitr Phol selected Eka’s Physical Trade, Position & Mark to Market, Derivatives, Risk and Monitoring, Order Management System and Broker Reconciliation applications to meet their business needs.
By using applications on a single platform, users have the advantage of being able to select exactly what they need for their business requirements.
All business-critical data is connected on one platform. They also have the peace of mind that they can easily select and deploy new applications if their needs change going forward.
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