19 November 2013, London, Adelaide, Bangalore, New York: Eka Software Solutions, the leading global provider of analytic-driven Commodity Management 2.0 software solutions, today announced that Unique Grain Management Pty Ltd has selected Eka for its Australian grain operations. Unique is a new participant in Australia’s grain marketing community and like its name, has a truly unique approach, offering only pools-based grain marketing.
Unique’s new approach to global grain marketing is very different from the current traders in that it originates grain from growers through a uniquely transparent pool pricing model, while offering the utmost efficiency as well as reduced headcount and overheads. Unique will only ever charge a fixed management fee [to the pool participants] for operating the pool. All other direct revenues and direct costs will be isolated in the pool entity to protect growers’ interests and ensure there is no ceiling on pool returns. Unique will provide detailed cost and revenue statements throughout the life of the pool, so growers will have high confidence in the finalised pool return. Unique is truly accountable to growers and the company can only succeed if the growers succeed.
Choosing Eka is a significant decision for Unique, which launched in November. Eka is the only vendor with commercial off-the-shelf software for pools management. Using Eka’s latest grain trading technology, Unique is able to start its operation quickly, without having to develop software. One of the big attractions for Unique is Eka’s web-based grower portal function (Eka.Grownet), which allows growers to instantly see pool returns, understand how the pool return is derived and nominate grain to the pool with a few clicks of a mouse. It also enables growers to monitor and to track positions, delivery tickets, RCTIs and payments, all from one easy-to-use website.
Mark Thiele, Managing Director of Unique, is well known in grain markets as he was previously Managing Director of Elders Toepfer Grain, a joint venture that also brought a different origination model to the Australian grain market at the time. Thiele said: “We have a completely new approach to originating and marketing growers’ grain. To gain access to the full EKA software solution assures us that this new origination model will be underpinned by robust, proven and efficient systems. It has been quick to implement and has an intelligent pools system with built-in functionality for web-based interaction with our growers. Eka fully meets our needs on all counts and allows us to concentrate our efforts on establishing our new business rather than developing software. Eka’s technology will underpin the future expansion of our business. We have been particularly impressed with Eka’s implementation team which has worked closely with our IT supplier to deliver a cost-effective system; all we have to do is start our web browser and we‘re ready to go.”
Manav Garg, Founder and CEO of Eka commented: “Unique has an exciting and fresh trading model and I am delighted that we can now count Unique as a client. Being an integral part of a truly different approach to grain trading and marketing is fantastic, as is being a part of what will undoubtedly be a great success. Part of our growth strategy has been our commitment to both the majors and innovative niche participants in the agricultural sector. This is a notable achievement for our team and our company.”
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John Norris / Alla Lapidus
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Notes to editors
About Unique Grain
Unique’s approach is to develop a pool with a structure that provides growers with the principles similar to that of any sophisticated and organised marketing structure. Participating growers will deliver to the pool and get the average pool price, adjusted for their location and quality of produce. Unique will sell grain form the pool and the income from the pool will be distributed among the growers. Unlike other companies, Unique will not add a margin for the services it provides, but will charge a fixed fee, offering complete transparency of the pool returns to the growers. Unique sets out to address an adjustment to the market which is evolving as the industry learns to operate in a de-regulated market, where specialisation in the area of pool management is the logical outcome for growers.
For more information visit www.uniquegrain.com.au
About Eka Software Solutions
Eka is the global leader in providing analytic driven Commodity Management 2.0 software solutions. Eka’s innovative, end-to-end Commodity Management platform enables companies to efficiently and profitably meet the challenges of complex and volatile markets.
The company’s best-of-breed solutions manage commodity trading, procurement, logistics, storage and handling, processing, enterprise risk and compliance. Eka partners with customers to accelerate growth, increase profitability, improve operational control, and manage risks and exposures.
Eka is a team of 340+ staff with offices in Asia, Australia, Europe and the Americas, serving a rapidly growing global client base across multiple commodity segments.