Jaggaer One platform wins "Most Innovative Technology" at Procurement Middle East Awards
Jaggaer, the world’s largest independent spend management company, has been recognised this week at the third annual Procurement Middle East Conference in Bahrain. The company’s Jaggaer One Spend Management Platform received the top prize in the “Most Innovative Technology”.
The company launched the technology in the Middle East two days previously. Hossam Refaat, Managing Director for Jaggaer Middle East and North Africa collected the Award from H.E. Eng. Basim Bin Yacob Al Hamer, Chairman of Bahrain Tender Board and Dr Mohamed Bahzad, Secretary General, Bahrain Tender Board.
“The Jaggaer One Spend Management Platform integrates the most innovative procurement software on the market, yet the proposition is clear and simple: All Processes, All Spend, One Platform. Our mission is to empower procurement professionals by simplifying, streamlining and automating business processes. And this clearly appealed to the judges,” commented Refaat at the ceremony.
The Middle East is a high growth region for Jaggaer. The company is reportedly working closely with the Kingdom’s digital transformation efforts as it embraces the latest generation of smart procurement systems, commonly referred to as Procurement 4.0.
The Jaggaer One platform was officially launched in the US in February 2019. Developed over the previous 15 months, the platform represents the next stage in the evolution of our company and is the most complete business-to-business spend management offering available globally. It was developed with market and customer input and is a solution that any business can rely upon and scale as it transforms its procurement operations,” commented Robert Bonavito, Jaggaer CEO.
The platform is designed to meet the requirements of multiple industries, institutions and sectors including Manufacturing, Transportation, Pharmaceutical, CPG, Retail, Education and the Public Sector. Modine Manufacturing, Hyster-Yale Group, Varian Medical Systems, Carl Zeiss, Illycaffe’ and the University of Colorado are already confirmed as users.
EU and US agree end to Airbus-Boeing supply chain tariffs
The EU and US have agreed to resolve a 17-year dispute over aircraft subsidies, suspending tariffs on billions of dollars' worth of goods that have plagued procurement leaders on both sides of the Atlantic.
Under an agreement reached by European Commission Executive Vice-President Valdis Dombrovskis and US Trade Representative Katherine Tai on Tuesday, the tariffs will be halted for a period of at least five years.
It will bring an end to punitive and disruptive levies on supply chains that have little to do with the argument, which became embroiled in the trade battle. Businesses on both sides of the dispute have been hit with more than $3.3bn in duties since they were first imposed by the US in October 2019, according the EC.
The US imposed charges on goods upto $7.5bn in response to a World Trade Organisation ruling that judged the EU’s support of Airbus, its biggest aircraft manufacturer, unlawful. A year later in November 2020, the EU hit back. The WTO found the US had violated trade rules in its favourable treatment of Boeing, and was hit with EU duties worth $4bn.
In all the tariffs affected $11.5bn worth of goods, including French cheese, Scotch whisky, aircraft and machinery in Europe, and sugarcane products, handbags and tobacco in America. Procurement leaders on both sides of the fence were forced to wrestle with tariffs of 15% on aircraft and components, and 25% on non-aircraft related products.
Boeing-Airbus dispute by the numbers
- The dispute began in 2004
- Tariffs suspended for 5 years
- $11.5bn worth of goods affected by tariffs
- $3.3bn in duties paid by businesses to date
- 15% levy on aircraft and 25% on non-aircraft goods suspended
Both sides welcome end to tariffs
European Commission President Ursula von der Leyen branded the truce a “major step” in ending what is the longest running dispute in WTO history. It began in 2004.
“I am happy to see that after intensive work between the European Commission and the US administration, our transatlantic partnership is on its way to reaching cruising speed. This shows the new spirit of cooperation between the EU and the US and that we can solve the other issues to our mutual benefit,” she added.
Both aircraft manufacturers have welcomed the news. Airbus said in a statement that it will hopefully bring to an end the “lose-lose tariffs” that are affecting industries already facing “many challenges”. Boeing added that it will “fully support the U.S. Government’s efforts to ensure that the principles in this understanding are respected”.
The US aerospace firm added: "The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action."
This week’s decision expands upon a short-term tariff truce announced in March this year. The EC says it will work closely with the US to try and further resolve the dispute, establishing a Working Group on Large Civil Aircraft led by each side’s trade minister.
Airbus last month signalled to suppliers that post-pandemic recovery was on the horizon, telling them to scale up to meet a return to pre-COVID manufacturing levels. “The aviation sector is beginning to recover from the COVID-19 crisis,” said Airbus chief executive Guillaume Faury, adding that suppliers should prepare for a period of intensive production “when market conditions call for it.”