Friday 10 July 2020

Farnek launches new smart eProcurement portal

DUBAI, October 23, 2019

Leading UAE-based technology and sustainability-driven facilities management (FM) company Farnek has officially launched a new online eProcurement portal.

The platform has been designed to enable Farnek to increase efficiency and improve delivery times via its automation of the procure to pay process, covering supplier online registration, the purchase request to purchase order process besides the timely online approvals and delivery notes, said a statement from Farnek.

It will also help in speedy process of supplier invoicing and payments, tendering, as well as contract tracking and reporting, through the utilisation of online dashboards, it added.

Commenting on the launch of the new system, CEO Markus Oberlin said: "Harnessing eProcurement is an integral element of improving the efficiency of our organisation and to ultimately add to our growth aspirations and overall profitability."

"As a leader in sustainable FM, we are also introducing paperless processes across all departments, while also increasing transparency," he noted.

The typical benefits of the eProcurement system include reducing the number of manhours on menial tasks, including paper-based documents and approval processes, which are now completed efficiently via the application and also cuts out the need for hard copy filing, because everything is saved digitally on the system.

The tendering process is also simplified and completed almost exclusively online, promoting an enhanced selection process and accommodating smart comparisons.

"We wanted to create a system that enhanced our service delivery, using the latest technology. Therefore, by digitalising our procurement process we can now ensure not only an efficient service, but material delivery as well," he noted.

“The implementation of this digital platform, which was configured and customised to meet the specific requirements of multiple departments within Farnek, has undergone several months of research and development as well as testing, to ensure the system will meet the expected outcome. End-user training across our organisation has also been delivered to ensure the smooth transition of these new digital services,” added Oberlin.

Technology and innovation are crucial to Farnek’s success moving forward and forms a key part of the company’s business strategy.

As such, Farnek has an ongoing multi-million-dirham investment plan to digitally transform its business model, by developing and introducing, new solutions based on smart apps, big data, machine learning and AI, said the statement.  

Farnek’s unique ability to offer such a variety of services with fully integrated smart and sustainable solutions has resulted in several contract wins with many of the UAE’s leading companies, including Emaar’s Dubai Mall and Burj Khalifa, Dubai Airports, Emirates, Etihad, and Du, it added.-TradeArabia News Service


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