Tejari reports positive growth

Tejari.com, the Middle East online marketplace, announced today that 2003 was its most successful year yet of operation, with consistent growth recorded in relation to its number of trading partners, online auctions and electronic purchase orders.

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By  Maddy Reddy Published  March 14, 2004

Tejari.com, the Middle East online marketplace, announced today that 2003 was its most successful year yet of operation, with consistent growth recorded in relation to its number of trading partners, online auctions and electronic purchase orders. The year finished positively for Tejari, with a record number of organisations using the online trading facility. By the end of 2003, Tejari had attracted 2,471 members - representing nearly 1000 new trading partners, or a 67% growth rate from the membership level at the end of 2002. In correlation with the rising number of trading partners, during 2003 Tejari hosted its highest number of online auctions yet. By year-end, the online marketplace had conducted 10,395 auctions – which was a 110% increase on the previous year. During 2003, 20,117 purchase orders were recorded in contrast to 1,782 in 2002. “Tejari’s results for 2003 are a testament to the increasingly popularity of e-procurement in a growing number of industry sectors. Once our trading partners host a successful auction or begin migrating their purchase order process online, the benefits become immediately apparent, and our activity levels increase correspondingly,” says Sheikha Lubna Al Qasimi, CEO of Tejari. Following the launch of Tejari Jordan in mid-2002, Tejari entered the Lebanese, Iraqi and Kuwaiti markets during 2003. Most recently, the online marketplace made a further foray into the Levant region by announcing at the beginning of this year that it will launch operations in Syria during the third quarter of 2004. Tejari is also considering alliances with other online marketplaces in key geographies, including the US and Europe, based on the needs of its trading community. Last year also saw the launch of the ‘My Tejari’ portal, which offered personalisation and notification services for mobile commerce through which users can receive real-time updates on their online activities, including tenders and auctions, by SMS alerts, e-mail or fax. In late November 2003, Tejari successfully managed the migration of its hosting platform from the United States to Dubai Internet City (DIC), assisted by partners including Sun Microsystems, and Oracle. Tejari expects to launch value-added services such as strategic sourcing, spend analysis, asset disposal, content syndication, and aggregate buying for its enterprise customers later this year. Additionally, Tejari plans to expand its hold on the e-procurement market by investing more into business intelligence offerings. This year, trading partners will be able to generate detailed reports and analysis on the number and type of auctions and other purchases taking place by sector and products. “The robust results recorded in 2003 have highlighted a number of areas in which Tejari aims to expand over the next twelve months. Our objectives are centered around delivering more key information and trading opportunities to our partners, while creating new services and areas of market reach to serve their interests,” adds Sheikha Lubna.

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