STAMFORD, CT: Eka Software Solutions, a global provider of Smart Commodity Management software solutions, announces that Progress Energy has selected Eka’s InSight CM platform to manage trading, position, risk, scheduling, and settlement for Natural Gas, Crude, and Refined Products. Eka’s user-friendly functionality and ability to scale along with its track record of successful implementations proved key factors in being selected by Progress Energy.

Progress Energy required an advanced and best-of-breed Energy trading and risk management(ETRM) solution that was fully integrated across front, middle, and back office to support rapid growth. Progress Energy sought a solution that would scale with its business and provide full transparency and controls for its Marketing operations.

“Progress Energy had outgrown its current systems and needed a scalable front-to-back ETRM platform to support our growing business,” said Neal Brandemark, Manager, Risk Management at Progress Energy. “Eka offered the best combination of functionality, ease of implementation, and a reputation for ensuring customer success.  Eka was clearly the best choice for Progress Energy.” 

“In competitive evaluations, Eka comes out on top for providing the greatest depth and breadth of functionality as well as for our outstanding implementation capabilities. We’ve received industry recognition for our fully integrated ETRM software solution as we were named a Major Player in the IDC MarketScape: Worldwide ETRM Software Vendor Assessment,” said Andy Bout, General Manager, Energy at Eka.  “Energy, companies are looking for something better than the dated platforms so prevalent in the marketplace. To remain competitive in today’s volatile energy markets, energy companies require systems that enable them to effectively manage the business. We are pleased to welcome Progress Energy as a new customer.”

Progress Energy, an energy producer and subsidiary of Petroliam Nasional Berhad (PETRONAS) of Malaysia, produces more than 750 million cubic feet equivalent of natural gas per day in northeast British Columbia and northwest Alberta. Currently serving the Canadian markets, Progress Energy plans to expand production capacity on its large Montney land holdings in to meet demands in new LNG markets in Asia.

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