United Bank Limited (UBL) and Tejari Pakistan have entered into an agreement to offer ‘Procure to Payment Solutions’, that meet sophisticated supply chain management needs of corporate organizations.
UBL, a leading financial institution offering a range of financial products and services, specializes in the use of cutting edge technologies in the design and deployment of next generation solutions.
Tejari Pakistan offers leading software and services to meet Purchase to receipting solutions of corporate organizations.
Tejari Pakistan comprises of the nation’s largest team of professionals dedicated to sourcing procurement consulting.
Hence, keeping in view the market need for end-to-end compliant ‘Procure to Payment Solutions’, UBL and Tejari have agreed to pool their respective expertise to offer a P2P Application that ensures enforcement of the customers’ purchasing policy.
Speaking on the occasion, Mr. Aameer Karachiwalla, Chief Operating Officer, UBL said: “Integration of technology in our systems is vital for the progress of the bank. This application will play a significant role in removing the need for human intervention in approval and payment process, hence ensuring cost savings, reduced business cycle, and increased visibility of procurement spend and utmost transparency for stakeholders.”
Meanwhile, Mr. Murtaza Hashwani, Chairman & CEO – Zahdan Group commented: “We at Tejari are proud to partner with UBL in offering an end-to-end Procure to Pay solution that will improve the organization’s efficiency and profitability, and help them integrate industry’s best practices within their sectors as Tejari is already catering to more than 60,000 Supply Chain Professionals worldwide”.
He further added, “UBL is a strategic opportunity for us to demonstrate the true potential of this technology in Pakistan in the banking and public sector as the same has already been successfully implemented at leading companies of Pakistan from Oil & Gas, Telecommunication, Hospitality and Retail”.
This application enables individual employees to select items from their respective preapproved catalogue and only raise a policy compliant purchase requisition.
Each purchase requisition is auto checked against available budget and based on the value and type of purchase either undergoes further approvals as per a pre-defined matrix or is converted into a purchase order and sent electronically to prelisted vendors. Where indicated, purchase requisitions are auto posted as a bid item inviting bids.
This is not tech news at all. What next, a post about electric shavers?
Tejari, if you don’t know, is a E-procurement solution provider.
They have just enhanced the service by allowing UBL to manage it’s payment gateways for the solution.
like the admin highlighted, it is a software solution and trust me, Tejari can and will revolutionized the market.of eCommerce in the region. Google Tejari !