Dubai Investments - the leading diversified investments company listed on the Dubai Financial Market has signed an agreement with C1 India to accelerate the procurement progressions across the company’s diversified businesses.
The signing ceremony was attended by Khalid Bin Kalban, Vice Chairman and CEO, Dubai Investments, Suresh Nanda, Chairman, C1 India and Downtown Investments Management, Mohamed Al Ali, General Manager and Brandon Joseph, Senior Vice President, Downtown Investments Management LLC.
Dubai Investments plans to roll out the initial phase of the implementation with the Company’s glass subsidiary Emirates Float Glass (EFG), specializing in manufacturing of float glass in architectural and automotive applications. Dubai Investments opted C1’s solution, upgrading the Company’s purchasing system, optimizing workflow management, tracking supplier performance and reducing data governance issues.
The implementation of the digital procurement transformation services is an innovative approach by Dubai Investments to harness the power of digital technologies to drive transformative processes in procurement. The implementation of the new services will enhance cost optimization and support risk management towards improving performance and mitigating procurement associated risks.
“Driven by digital capabilities, efficient procurement solutions today have fundamentally transformed organizations’ procurement function and brought significant bottom-line benefits to companies. We were looking for an automated centralized procurement system for our sourcing cycles with better mobility, stability and improved performance. During the assessment, we found C1’s procurement solution the best fit for our various business needs. We plan to expand the scope of the implementation across various businesses and benefit from process automation and end-to-end transparency of all transactions in the procurement cycle,” said Khalid Bin Kalban, Vice Chairman and CEO, Dubai Investments.
With exceptional third party validations, progressive thinking and creative approach towards providing excellent visibility, insights and recommendations, Dubai Investments will benefit from C1’s best-in-class practices, domain knowledge and expertise, proven technologies, and innovation in responding to simplifying procurement operation complexities.
“C1 is committed to long-term value creation based on trust, transparency and business integrity. We have spent two decades working in this space and providing vital procurement solutions for the government and leading private & public sector organizations across the globe. We’re delighted to have Dubai Investments on board with us and are committed to their continued success. We look forward to a great professional relationship”, said Sanjay Puri, CEO at C1.