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.