Tejari, Emirates NBD Group sign agreement for suppliers management solutions
DUBAI, 16th October, 2018 (WAM) — It was announced today that Tejari, the global strategic sourcing solution provider, has signed a three-year landmark agreement with Emirates NBD.
The agreement will see Emirates NBD, Dubai’s largest lender, combine its Sourcing and Strategic Supplier Relationship Management operations, through a single online platform. This is to streamline the way it does business across its subsidiaries, enabling its sourcing operations to meet all the rigorous Emirates NBD Compliance and Risk Management requirements.
Emirates NBD required a solution that could combine its Sourcing, Contracts Management and Strategic Supplier management operations in one platform that also encompasses all the bank subsidiaries outside of the UAE, such as in Egypt, to allow visibility across all geographies where the bank operates.
The solution must be able to meet and surpass the Group’s strong security requirements for software applications, and it must demonstrate its ability to flexibly accommodate Emirates NBD strict Compliance and Risk Management requirements in the way it operates its Sourcing and Supplier management processes.
Emirates NBD requirements in compliance and risk management for supplier operations are globally recognised strong measures, due to the nature of Emirates NBD financial operations and security protocols. Tejari has proved through the solutions it offered to Emirates NBD, that its strategic sourcing and contracting platform indeed meets the leading Bank’s security requirements. Tejari’s software capabilities were flexible and structured to accommodate the specific compliance requirements of Emirates NBD operations.
Given the nature of the Emirates NBD business, it runs as a highly secure operation with rigorous security regulations in place, these measures are strongly adhered to by the Bank’s security teams specifically when signing new agreements that involve software applications – that is for the Group’s security leadership to approve new applications’ deployment.
This required Tejari to pass through a procedure of rigorous security testing, and in addition to passing the security testing phase, the Tejari technology was selected due to the flexibility in meeting the client’s requirements, strong governance processes, its vast supplier network, as well as its local support and implementation team offering.
Abdulla Ail Al Janahi, Chairman of the Board of Directors at Tejari added, “Through this strategic agreement, we are able to support Emirates NBD Group in realiSing one of its core company values of ‘service excellence’ achieved through innovation. Our highly engineered technology empowers Emirates NBD in their digital transformation efforts, streamlining sourcing and supplier management processes whilst delivering enhanced compliance, security and governance across all of its subsidiaries, which is crucial given the financial nature of the business. We are committed to supporting Emirates NBD increase value from its procurement function and create an edge over the competition.”
Ahmed Al Sheryani, EVP Procurement & Reality services, Emirates NBD, said, “We have elected to sign this agreement with Tejari, because we as Emirates NBD Group have strong trust and belief in Tejari’s Account Leadership Team as well as Tejari’s technology solutions.
About JAGGAER: Global Source to Pay Spend Management Solutions
JAGGAER is the world’s largest independent spend management company, with nearly 2000 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 Source to Pay eProcurement solutions with advanced Spend Analytics, Sourcing, Supplier Management, Contract Lifecycle Management, Savings Tracking, and intelligent workflow capabilities. JAGGAER has pioneered spend solutions for over two decades and continues to lead the innovation curve by listening to customers and analysing the market. Our solution suites are trusted by the world’s largest manufacturing, education, 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.
Tejari operates as an integral part of the JAGGAER company with an exclusive focus on the Middle East and North Africa. Its growing team composed of more than 75 professionals across Dubai and Abu Dhabi provide effective support to a rising portfolio of local clients as well as multi-national organizations operating in the region. Tejari provides a market leading global strategic procurement platform that helps more than 650 companies and 150,000 purchasing professionals worldwide unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation.