The cloud platform Eka Software Solutions has launched Eka Treasury Management, a tool designed to give CFOs better insights into their company.
Treasury Management, which rolled out Tuesday (Sept. 28), gives companies up-to-date info on enterprise data that is crucial to understanding their cash flow, liquidity positions and foreign exchange risk, the software firm said in a news release.
“With this launch, Eka’s Cloud Platform now provides powerful enterprise solutions and integrations that unify critical business processes across e-sourcing, trading & risk, supply chain, sustainability and financial management,” the company said.
Eka says this new tool offers businesses the ability to control cash, liquidity and risk positions, manage compliance and working capital, and carry out hedge accounting.
“Over the last decade, we have seen a significant shift in the scope and demands of the CFO office due to globalization, increasing regulatory requirements and the speed of technology innovation,” said Manav Garg, Eka CEO and founder. “Today’s CFOs are not only responsible for the company’s financial health, but they are also playing a far more strategic role in guiding their company’s strategy.”
Garg added that the “operational and environmental challenges” of past two years have underscored the need for Eka to revamp its platform to better suit the needs of CFOs.
“The introduction of Eka Treasury Management marks an important step in our evolution as a company as we strive to deliver the world’s most comprehensive, deterministic platform for business leaders across the energy, manufacturing, mining and metals industries,” he said.
Read more: Eka Debuts Solutions To Digitize Business Processes
Earlier this year, Eka unveiled new tools to help bolster businesses’ resilience. These tools work across commodity trading and risk management (CTRM), eSourcing, sustainability and direct material procurement, and digital key business practices.
“While profitability will always be paramount, success in the current environment calls for prioritizing agility and flexibility in business processes,” Garg said at the time.
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