Bank Muscat extends BravoSolution collaboration
The newly signed three-year contract extends what is already a successful four-year relationship between the two organisations
Bank Muscat, the flagship financial services provider in Oman, has signed a three-year extended agreement with BravoSolution, a strategic procurement solution provider.
Building on successful four-year relationship, the bank is expected to continue managing its tendering activities through BravoSolution's strategic procurement platform BravoAdvantage.
Bank Muscat became one of the first banking institutions in the country to run a reverse auction through the BravoAdvantage platform, which resulted in a 20% reduction in overall cost on a single project.
Commenting on continuing relationship, Said Al Aufi, Group deputy general manager of Projects & Infrastructure at Bank Muscat, added: "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, in keeping with the spirit of our ‘Let's Do More' vision.
"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," he concluded.
Dan Quinn, SVP 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."