Bank Muscat enhances BravoSolution partnership for procurement operations

Muscat: Bank Muscat in step with its ‘Let’s Do More’ vision and commitment to innovation in banking services, has enhanced partnership with BravoSolution, a strategic procurement company, to sign a three-year extended agreement for its strategic procurement solutions.
Bank Muscat currently manages its tendering activities through BravoSolution’s strategic procurement platform BravoAdvantage. The extension follows a successful four-year relationship between the two organisations in which Bank Muscat has been one of the first in Oman’s banking domain to run a reverse auction through the BravoAdvantage platform which resulted in a 20% reduction in overall cost on a single project.
Said Al Aufi, Group Deputy General Manager – Projects and Infrastructure at Bank Muscat, said, “We are proud to join hands with BravoSolution for its strategic procurement sourcing application suite. With this solution, we were able to achieve one of the first eAuctions of its kind in the banking sector in Oman.
“We continue to demonstrate that we are a leader in adopting technologies that not only make our financial services more efficient, but also make the procurement process more proficient. Financial technology is changing the future of banking and Bank Muscat has seamlessly progressed from traditional to innovative digital banking to enhance our customer experiences, reengineer operations and achieve growth.”
Oman Data Park (ODP), a joint venture between telecom major Omantel and data centre major 4Trust LLC, is the reseller of BravoSolution products in Oman, and has a long business partnership with BravoSolution to provide Level 1 local support to businesses in Oman. The BravoAdvantage platform is hosted locally in Oman at ODP’s Data Centre.
Dan Quinn, Senior Vice President at BravoSolution MENA, said, “We are pleased to be continuing our partnership with Bank Muscat. Over the last four years of working together, we have successfully been able to perform dynamic real-time negotiations in a completely secure and transparent manner. This platform empowers Bank Muscat to improve their decision making and streamline their asset spend to positively impact their bottom line.”
BravoSolution provides a market leading global strategic procurement platform that helps more than 650 companies and 150,000 purchasing professionals worldwide.