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Partnership Supports Scaling Up of Middle East SMEs and B2B Market;
Middle East E-Commerce to reach USD 20 Billion by 2020:
Dubai, United Arab Emirates – Real-time digital transactions will transform Middle East e-commerce by 2020, SOUQ.com, the region’s largest e-commerce platform, announced today in a tie-up with SAP. In line with this prediction, the partnership between SOUQ.com and SAP will help accelerate real-time transactions to support the scaling up of Middle East small- and medium-sized enterprises (SMEs), and further drive the e-commerce market.
According to a recent report by online payment provider Payfort, the Middle East’s e-commerce market is set to nearly triple in value, from USD 25 billion in 2015 to USD 69 billion by 2020.
Most of the Middle East’s e-commerce growth will come in a massive shift from business-to-consumer transactions in items such as mobile phones, clothes, and watches, to business-to-business items.
The rise in business-to-business will be experienced primarily by small- and medium-sized enterprises (SMEs), selling large quantities of items such as office furniture, rooftop solar panels, and medicine.
Partnership with global technology company SAP and systems integrator NTT Data for the digital roadmap will support SOUQ.com as well as overall e-commerce industry growth. The core is an end-to-end enterprise resource planning solution that runs on the real-time SAP HANA Enterprise Cloud.
“SOUQ.com enables regional SMEs to start and grow their online business using our solid technology platform, technical assistance, and market exposure. SMEs on our platform have seen unparalleled success. In line with the region’s SME-backed e-commerce growth, the business-to-business market will be the next major digital economy growth driver,” said Ronaldo Mouchawar, CEO and Co-Founder of SOUQ.com.
The region is poised to become a key player in the global e-commerce market and today’s tech savvy and connected consumers expect access to everything wherever, whenever and in real-time. This partnership with SAP will further scale up our platform and provide real-time, robust, and secure e-commerce platform for SMEs to grow exponentially and sell thousands of items effortlessly at one time directly to large enterprises,” added Ronaldo Mouchawar.
“Real-time is the driver of e-commerce – whether in completing transactions or identifying new customer shopping habits. This partnership promotes the sharing of global best practices, further solidifying SOUQ.com as the Middle East’s top e-commerce platform, driving the digital economy and embracing millions of more e-commerce sellers and buyers,” said Tayfun Topkoc, Managing Director, SAP UAE.
Wisam Daoud, COO of SOUQ.com, added, “As the largest e-commerce platform in the region, we focus on the value we bring through technology and making online shopping as seamless and enjoyable as possible for our customers. This partnership with SAP is our next step to further enhance our customer experience and operations and thereby boost the E-commerce industry.”
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About SOUQ.com
SOUQ.com is the largest online retail and marketplace platform in the MENA region, featuring more than 2 million products across 31 categories OUQ.com attracts over 45 million visits per month, with localised operations in the KSA, UAE and Egypt.
SOUQ.com offers a convenient and safe online shopping experience with secure online payments, option to pay cash on delivery and free returns. For more information, visit www.SOUQ.com.
About SAP
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 345,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com. Follow SAP on Twitter: @SAPMENA, @SAPMENANews
Media Contacts
Husain Al Tamimi, SAP +971 56 6811641, husain.tamimi@sap.com
Claire McPeak, SAP, +971 4 330 1777, c.mcpeak@sap.com
Steve Baron, Wallis Marketing Consultants, +971 4 275 4100, sap@wallis-mc.com
© Press Release 2017
