Eka Software expects climate risks, sustainability businesses to form one-fourth of revenue

Chennai: Enterprise cloud solutions provider Eka Software Solutions, which recently announced a collaboration with US tech giant Microsoft, expects to generate about one-quarter of its revenue in about 2-3 years from climate risk, climate management and sustainability. nearby businesses, a top executive said. ET.

Eka’s solution runs on the Microsoft Azure platform and enables businesses to track carbon emissions to gain full and real-time visibility.

“Going forward, we believe this will become one of the key components of our offering over the next two to three years – about 25% (of total revenue). I think climate risk, climate management, sustainability, management in general Ekaa founder and CEO Manav Garg said.

“Now, it’s very regulatory driven, so the CFO office gets involved too,” he said. “And it’s also an essential part of the CFO’s office non-financial reporting.”

ET reported on Monday that Eka has placed itself on the block and is in talks with global private equity firms such as PAG, TA Associates and Advent International for the same. The company is estimated to be worth $450 million.

Leveraging Azure’s hybrid and cloud technologies, pre-built frameworks and analytical dashboards on Eka’s ESG (Environmental, Social and Governance) and sustainability reporting solutions allow companies to report according to an industry mandated framework and their environmental footprint across all emissions sources will help to reduce

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“We are seeing this as a continuation of the theme of automating the entire CFO suite,” Garg said.

“We are already very strong in commodities and natural resources and … companies in agriculture, mining, energy transportation are also at the forefront of managing this climate risk. So, we started helping companies with sustainability offerings. Found a very natural adjacency,” he said.

These companies will be mainly in India, Asia, Australia and Europe.

Garg said US President Joe Biden had focused on climate risk, but the United States was not regulatory-driven and was therefore not yet “fully mature” as a market.

“We are looking at global companies that are about $500 million or $1 billion and are focused on certain sectors like manufacturing, natural resources, and one or two more sectors. In the first phase or in the next 12 months or so, we are close to Will try to reach 10,000-15,000 companies.

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