DP World has signed a five-year extended agreement with leading strategic procurement company BravoSolution / Tejari following a "highly successful" partnership.

The deal was made following the existing five-year relationship where Tejari supported DP World’s supplier relationship, tendering and contract management processes into a seamless, integrated online platform that can be accessed both locally and globally, said a statement.

As a leading global trade enabler DP World recognised that innovative procurement technologies such as strategic procurement would allow it to stay at the forefront of the industry. It required a more streamlined and connected solution that reduces procurement time and costs across continents whilst offering transparency across the entire procurement process.

The new, five-year ‘Global Framework Agreement’ outlines the expansion and adoption of the BravoAdvantage solution beyond the initial use across DP World globally. Additionally, the solution will be leveraged for strategic decision making and management information allowing visibility, control and governance worldwide, said the statement.

Tejari currently provides DP World with a procurement consultancy, the highest levels of data security and the roll out of BravoAdvantage Spend, Supplier Value Management (SVM), Sourcing and Contract Lifecycle Management (CLM) capabilities that have together transformed operations.

“We are delighted to be continuing to strengthen our journey with DP World to streamline their procurement operations and aid the company’s strategic decision making in meeting their future goals. As procurement practitioners, the length of the extended contract is a testament to the value-add, hands-on knowledge and expertise our team provides DP World,” said Dan Quinn, senior vice president at BravoSolution Mena/ Tejari. “To date, we have been able to standardize their procurement approach and empower buyers to make intelligent and informed decisions, as well as increasing global spend under management.”

Iqbal Khoory, SVP Global Procurement at DP World, added: “Through the implementation of Tejari’s web-based platform, we have been able to manage supplier risk better than ever before. At the same time, we have been able to improve online negotiation tactics that deliver savings in a transparent, fair and equitable manner. We are pleased to be extending our partnership and we are looking forward to further streamline processes with our suppliers.”

Tejari has led DP World’s adoption of technology procurement solutions across the world, and has successfully managed to save supplier on-boarding and pre-qualification process times as well as reduce procurement cycle times and costs for the buying team.

BravoSolution / Tejari provides a market leading global strategic procurement platform that helps more than 650 companies and 100,000 purchasing professionals worldwide, the statement added. - TradeArabia News Service