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Omania E-Commerce: At the forefront of e-procurement solutions in Oman
November 15, 2006
The Middle East is on the threshold of phenomenal growth in e-commerce and Oman is one of the countries at the forefront of a fast transition into the world of Information Communication Technology. Omania E-Commerce LLC (OEC) has been contributing profoundly to this evolution by offering turnkey e-procurement platforms.
OEC has broken new ground by introducing the online marketplace concept to Oman. Since its launch in early 2005, OEC has received an encouraging response with leading businesses in Oman signing on as members. OEC has partnered with Tejari – the Middle East Online Business-to-Business (B2B) Marketplace that allows companies to buy and sell goods and services online. Through the Tejari technology, buyers can find, compare and procure products and services from the familiarity and convenience of their desktop Internet browser. Suppliers can list their products and services and sell them through online catalogs or auctions.
The ensuing benefits offered by OEC along with Tejari are many. The leading advantages of the e-procurement services offered by Tejari include a wider and better market reach, savings in terms of time, resources, and importantly costs. The easy, efficient and automated processes allow organizations to work faster and smarter by eliminating chances of error caused due to re-keying of information. The online marketplace also ensures secured document transmission, transparency and an audit trail that can be accessed to check the status of documents.
The e-procurement solutions offered by Tejari, promote effective supplier management, and strategic sourcing, which can save businesses anywhere from 5 to 15 percent of their procurement costs. This, together with indirect savings of more than 40 percent, is what customers stand to gain by trading online through Tejari. For large businesses, that's a huge saving which can improve the bottom-line, as well as having a strong impact on the national economy as a whole.
The significant success witnessed by Omania E-Commerce LLC (OEC) in Oman can be attributed to an increase in Oman’s corporate internet usage, high-quality infrastructure and an overall readiness in the market for e-business. OEC has made its mark by rapidly building a strong network of customers representing leading businesses in Oman.
OEC’s success is a testimony to the increasing popularity of e-procurement in a growing number of industry sectors. According to Sheikh Mohammed Al Harthy, Managing Director, Omania E-Commerce LLC "The estimated value of B2B e-commerce in the GCC by the year 2008 is $29.96 bn; add another $2.29 bn for B2C e-commerce and we see the huge untapped potential that e-commerce offers".
"Oman too, has tremendous potential for online procurement, given its thriving business community, extensive government-focus on technology, and growing Internet penetration levels. Our strategic online services are uniquely positioned to meet the individual needs of our clients. We are focused on tailoring services to customers according to their budget and the market in which they operate, and so provide vital, industry-specific advantages." Sheikh Al Harthy said.
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