Tejari Unleashes New Procurement Platform

United Arab Emirates-based spend management and procurement service provider Tejari has unleashed its next-level tool for businesses. Dubbed BravoAdvantage, the new procurement platform was built to strengthen visibility into corporate procurement practices and relations with suppliers.

Reports of the new platform said the tool offers strengthened functionality in savings management solutions and spend management, heightened spend analysis capabilities, greater oversight of procurement compliance and streamlined sourcing tools.

According to Jim Wetekamp, CEO of Tejari sister company BravoSolution, BravoAdvantage was built to bring more robust procurement capabilities to companies in a more demanding business atmosphere.

“Conventional procurement methodologies don’t cut it in today’s volatile and extremely competitive market,” Wetekamp said in a statement. “If an organization wants to compete at the highest level, it needs to rethink its approach to procurement and focus on delivering measurable business value.”

He added that heightened procurement capabilities can lead to up to three times the savings for businesses and up to a 30 percent boost in profitability, giving businesses what Wetekamp called “a massive competitive advantage.”

Last year, Topline Strategy Group conducted analysis that found companies in the U.S. alone are losing more than $1.5 billion every year thanks to ineffective, weak procurement procedures. Among the largest cost savings that businesses miss out on stem not just from the hard costs of outdated procurement tools but from the inability to take advantage of the improved productivity that more robust procurement methods can offer.

Procurement software, researchers found, is among the top ways companies can improve their procurement practices, as it allows companies to streamline their buying and make it easier for businesses to track their spending.

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