JAGGAER’s Sourcing Solution Drives a 20% Overall Cost Reduction for Bank Muscat
RESEARCH TRIANGLE PARK, North Carolina – March 6, 2018 – JAGGAER, the world’s largest independent spend management company, recently facilitated the 20% reduction in overall cost on a single sourcing event for Bank Muscat, the flagship financial services provider in Oman. Using JAGGAER’s sourcing solution, Bank Muscat has improved its decision-making and streamlined its asset spend for a positive impact on the bank’s bottom line.
“We continue to demonstrate that we are a leader in adopting technologies that not only make our financial services more efficient, but also make the procurement process more proficient. Financial technology is changing the future of banking and Bank Muscat has seamlessly progressed from traditional to innovative digital banking to enhance our customer experiences, reengineer operations, and achieve growth,” said Al Aufi, Group Deputy General Manager – Projects & Infrastructure at Bank Muscat.
The partnership began over four years ago when Bank Muscat sought a viable solution to meet its sourcing needs – a fully automated strategic procurement platform capable of enhancing market access with an easy-to-use interface. The bank has reported continued success performing dynamic real-time negotiations through JAGGAER’s sourcing platform in a completely secure and transparent manner.
“Fortune Global 500 financial services companies trust JAGGAER to fulfill and deliver comprehensive spend management solutions that address the industry’s toughest sourcing and procurement challenges,” said Robert Bonavito, CEO of JAGGAER.
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER is the world’s largest independent spend management company, with over 1,850 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East. JAGGAER offers complete SaaS based indirect and direct eProcurement solutions with advanced spend analytics, complex sourcing, supplier management, contract lifecycle management, savings tracking, and intelligent workflow capabilities. We have pioneered spend solutions for over two decades and continue to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world’s largest education, manufacturing, health care, retail, consumer package goods, logistics, construction, utilities companies and public service organizations. Additionally, JAGGAER holds 38 patents–more than any other spend management company. www.JAGGAER.com.
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