Veronica Martin spoke to Guru Subramaniam, Vice President, Procure360 & Strategic Business – Bahwan CyberTek, about how the company has evolved, what makes the Procure360 solution different from other AI-powered procurement solutions and how important the ‘experience’ is in the success of the Procure360.
Can you provide our readers with an overview of Bahwan CyberTek (BCT) and outline how the company has evolved since its inception in 1999?
It will be interesting to note that Bahwan CyberTek started operations right here in the Sultanate of Oman. Since then, we have grown to become a leading global player for digital transformation. Today, we have more than 4,000 associates, cater to more than 1,000 customers including Fortune 500 and Fortune 100 companies, with a footprint across more than 20 countries.
Importantly, our commitment to client growth and our focus on in-country value creation for the UAE economy has helped us deliver significant business value. What makes BCT and our growth story unique is our approach towards intellectual property (IP) which has brought in a lot of nicheness to our customer engagement. Additionally, strategic partnerships with global technology leaders like Microsoft, Oracle, and IBM have also contributed significantly to our growth story.
At the heart of our evolution is this winning combination of services, products and strategic partnerships. And we’re going strong, entering our 25th year, which is a huge milestone.
Okay, let us talk about Procurement, which is a critical yet painful component for many businesses. Can you outline how your Procure360 solution is empowering users and enabling them to have a seamless procurement experience?
The procurement process is complex because it involves the procurement team working closely with finance and business teams to optimize the costs. To make this process better, we need a system that can digitize procurement, making it transparent, accessible, and collaborative.
Procure360 enables centralized procurement platform that covers the entire nine yards of the supplier onboarding process, sourcing management as well as contract lifecycle management. It is single comprehensive solution that offers end-to-end digitalization of the procurement process, instead of multiple specialized solutions.
The platform is ideal for a wide range of organizations including very large enterprises aiming for centralized procurement, large enterprises seeking consolidated procurement processes to seek cost advantage, and even large government departments like centralized tender boards to automate their procurement processes.
The entities can also deploy individual modules of Procure360 as standalone application modules and integrate them with their existing applications, making Procure360 a versatile, easily configurable, user-friendly solution for various procurement needs.
The capabilities of Procure360 are broad, but what would you say are the unique characteristics of the solution that really differentiate the product from other AI-powered procurement solutions?
One of Procure360’s strategic advantages lies in its platform architecture. It’s designed to be compatible with various ERP systems, making it accessible to enterprises regardless of their current ERP setup. This means that companies can easily integrate any of Procure360’s application modules with their existing ERP systems. Procure360 can also be deployed both on-premise or on cloud depending upon the enterprise choice.
Enterprises also benefit in other ways like access to a comprehensive 360-degree view of supplier data, category-based cost controls, multidimensional spend analytics, comprehensive contract management capabilities.
Overall, Procure360 streamlines procurement processes making it paperless, provides detailed visibility into the spends, associated analytics and enhances adherence to crucial standards and regulations. It significantly improves the productivity of the users and reduces the footfall of the suppliers into one’s facilities. It contributes to the green environment.
Can you expand more on the Vendor Risk Management element of the Procure360 solution – how does it promote an overall message of ethics and compliance?
Our strong vendor management approach captures vendor information, declarations, and compliance requirements early in the Supplier onboarding process. As a result, businesses can engage exclusively with suppliers who comply with expected standards. Thorough evaluation and analysis of partners reduces transaction risks within the supplier community, enhancing security and reliability, creating robust supplier relationship.
Another crucial aspect of our product is the 360-degree performance evaluation. This functionality allows for a comprehensive assessment of suppliers, and similarly, suppliers can periodically evaluate the buyer organization. Users have the flexibility to set evaluation frequencies, whether based on specific transactions, and align them with key predefined performance indicators (KPIs) or metrics.
Lastly, Procure360 offers configurable segments that enable users to profile suppliers from distinct perspectives or dimensions. This feature enables enterprises to primarily slice and dice the data and create a multidimensional analysis both about the spend as well as about the supplier.
We know that in the current digital economy, the only currency that matters is ‘experience’. How important is that experience that you claim to deliver in the success of the Procure360?
Over the years, we have successfully implemented our solution across various sectors, including government departments, manufacturing firms, and large enterprises with multiple subsidiary companies. And consistently our product has aligned and satisfied the business and growth requirements of buyer organizations.
Our primary focus has always centred on streamlining supplier onboarding and implementing a structured sourcing management. With over 200 attributes available for configuration, our platform enables rapid implementation and empowers enterprises to adapt their business processes dynamically. As a result, buyer organizations are now well-equipped to make well-informed decisions when awarding specific projects, thanks to the robust foundation of structured spend management and versatile configuration options provided by Procure360.
Thanks to a structured spend management foundation and modular structure, Procure360 simplifies implementation, ensuring a remarkable journey for both suppliers and buyers. It’s all about a holistic and seamless customer experience, and BCT delivers.
