By Angela Prasad
The company’s push for regional expansion, which saw new franchises announced in Saudi Arabia, has also helped increase its level of activity.
Tejari, the Middle East online marketplace, has managed significant growth in both the number of its trading partners and overall number of procurement transactions, as part of its third quarter results.
By the end of September, Tejari had secured 2,960 trading partners, and recorded 30,114 online transactions for the year, including e-auctions and electronic purchase orders. The total value of transactions recorded through Tejari since its launch has reached more than US$1 billion.
Tejari attribute its continuous growth to a number of factors, including an increase in initial online procurement adoption in industries such as construction, as well as greater e-procurement integration among long-standing Tejari members such as Emirates Airline.
The company’s push for regional expansion, which saw new franchises announced in Saudi Arabia, has also boosted its level of activity last quarter. Tejari also maintains an in-country presence in Jordan, Kuwait, Lebanon, Syria, and Iraq.
“Tejari’s growth in Q3 this year highlights the fact that online procurement has become an integral part of regional business processes on a year-round basis. The summer and ‘back-to-school’ months have enabled our trading partners to investigate ways to reduce operational costs and reduce administrative expenses by automating their purchasing functions,” says Sultan bin Sulayyem, chairman of Tejari.
“Bringing online major new members such as Etisalat and further enhancing relationships with existing trading partners so that they engage in activities such as strategic sourcing and asset disposal means that Tejari has widened the size and scope of its activities significantly this quarter,” adds bin Sulayyem.
The third quarter also marked the fourth anniversary since Tejari’s official launch as an online marketplace. The company is securing future growth through its focus on customer service and developing new offerings, such as consultancy services, tailored to the business demands of its almost 3,000 members.