JAGGAER/Tejari signs a landmark agreement with Emirates NBD Group, for Contracts and Supplier Management Solutions
- Banking, Insurance and Financial Services
- Contract Management
- Press Release
- Source to Contract
- Supplier Management
Research Triangle, NC. October 23, 2018 – JAGGAER, the world’s largest independent spend management company, in conjunction with Tejari, a leading global procurement organization, 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 will streamline the way Emirates NBD 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, encompassing and providing visibility into the bank subsidiaries in all geographies inside and outside of the UAE. The solution had to meet or surpass the Group’s strong security requirements for software applications, and be flexible to enough accommodate Emirates NBD strict Compliance and Risk Management requirements for its Sourcing and Supplier management processes.
Emirates NBD supplier operations compliance and risk management requirements are recognized as globally strong, due to the nature of Emirates NBD financial operations and security protocols. JAGGAER/Tejari’s strategic sourcing and contracting platform met the Bank’s security requirements, and are flexible and structured to accommodate the specific compliance requirements of Emirates NBD operations.
Emirates NBD rigorous security regulations measures are enacted by the Bank’s security teams when signing new agreements that involve software applications. This mandate required JAGGAER/Tejari to pass through a rigorous security testing procedure, in addition to passing the security testing phase. JAGGAER/Tejari was selected because of the ability to meet these requirements, the company’s governance processes, a vast supplier network, and a local support and implementation team.
“We have elected to sign this agreement with JAGGAER/Tejari, because we as Emirates NBD Group have strong trust and belief in their Account Leadership Team as well as their technology solutions,” says Ahmed Al Sheryani, EVP Procurement & Reality services, Emirates NBD.
“The implantation was rapid, efficient and completely tailored to Emirates NBD requirements, and it has fulfilled all of our expected requirements in terms of complying with the bank’s requirements in the areas of Supplier Relationship Risk Management and Compliance procedures across multiple geographies in the region. We have a further strategic vision to take this agreement to the next level, and to make Emirates NBD Group a leading global and regional exemplary deployment of Sourcing and Supplier Management solutions in the banking and financial sectors,” he added.
“Through this strategic agreement, we are able to support Emirates NBD Group in realizing 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,” says Abdulla Ail Al Janahi, Chairman of the Board of Directors at Tejari.
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.
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.