Dubai, United Arab Emirates, 12 April, 2017 

An economic slowdown presents an opportunity for companies to invest in strategic procurement solutions to bring down costs and drive growth.

Dan Quinn, Senior Vice President at BravoSolution MENA / Tejari, says: “In tough times, forward-thinking, smart organizations invest in procurement to reduce spend across all areas of their business without compromising on quality. Even a slight reduction in overall spend which can be achieved through procurement excellence can impact the bottom line for the better.”

He continued: “The savings made can then be put back into smart investments that strengthen a business’ outlook during an economic downturn.”

According to strategic procurement tech company BravoSolution / Tejari, the single biggest cost for most businesses come from procurement. By bringing down these costs, businesses will be able to increase (or replace missing) profits.

“Research shows that on average 60% of an organizations profit and loss (P&L) is made up of third party spend, this is the materials, products and services that companies rely on to deliver their mission. It is the role of the procurement function to manage this spend effectively. Smart CEO’s know that reducing this spend has a disproportionate impact on their company’s economics as a dollar saved virtually drops straight to the bottom line and improves both cash flow and profitability. The trick is building the capability to systematically identify, unlock and critically retain these sources of economic value,” Quinn added.

Last month (March 2017), OECD* said that despite modest pick-up in economic global growth, there are still risks and vulnerabilities that could derail market recovery.

It is here that procurement services can successfully be leveraged for strategic decision making and management resulting in an increase in profits as well as more streamlined business operations, Quinn concluded.

-Ends-

*Source: OECD Global Interim Economic Outlook, March 2017

About BravoSolution
BravoSolution is a leading global strategic eProcurement solution provider. Our procurement technology platform and practitioner experience help more than 650 companies and 150,000 procurement professionals in over 70 countries unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation. BravoSolution’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 650 procurement experts with 75+ in the GCC. To learn more, see http://bravosolution.com.

About Tejari 
Tejari operates as an integral part of the BravoSolution network 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.

With its market leading global strategic procurement platform, 15+ years of practitioner experience, directly serving over 70 countries, Tejari as part of the BravoSolution group, helps more than 650 companies and 100,000 purchasing professionals worldwide unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation. Tejari’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform.

For more information about Tejari, please visit the website: www.tejari.com, or follow us through 'Twitter' @Tejari_UAE, in addition to our account in 'LinkedIn'.

Media contacts:
Megan Treacher-Evans
Four Communications
E: megan.treacher-evans@fourcommunications.com
T: +971 55 568 8905

© Press Release 2017