What if you could streamline your procurement process and get the best quotes quickly, all in one platform? This is the vision that inspired Procural, a Bahrain-based startup revolutionizing the procurement landscape. As an all-in-one e-procurement tool for both government and private sectors, Procural offers a comprehensive B2B marketplace for tenders in Bahrain.
Major buyers such as Nass Corporation, CINQO CONTRACTING W.L.L., ALZAYANI INVESTMENTS, and YOUSIF ABDULRAHMAN ENGINEER CO. W.L.L, URBASER BAHRAIN CO W.L.L, DURRAT RESORT MANAGEMENT COMPANY W.L.L. and many more trust Procural to handle their day to day purchases and large tenders.
The inception of Procural stemmed from firsthand industry challenges. Uzair Usman, Founder & CEO, shared the following, “With over a decade of experience, we encountered issues like limited transparency, scattered data, and difficulty finding the right suppliers. It was frustrating to lack access to a wider pool of vendors and have limited visibility into pricing.” These hurdles inspired Uzair and his team to create a solution that could revolutionize the procurement landscape.
Procural’s journey from concept to launch has been marked by several significant milestones. Over the past year, the team has tirelessly worked to develop a platform that seamlessly integrates procurement and sourcing functionalities.
“We’ve been committed to continuously improving our platform,” Uzair stated enthusiastically. “This includes the implementation of advanced matchmaking algorithms powered by data analytics and machine learning.” The platform’s ability to match buyers’ needs with suppliers’ capabilities has been a game-changer, fostering stronger relationships and streamlining the procurement process. They make it so easy, right?
The platform’s success is evident from its impressive transaction volume. “We’re proud to have achieved $30 million in closed deals facilitated through our platform within just one year!” Uzair expressed. This achievement highlights the trust and commitment from both buyers and sellers on Procural. Additionally, the startup has managed to build a robust network by onboarding over 2,000 high-quality suppliers from diverse industries, and more than 50 established buyers.
With that, Procural’s innovative approach and impact could not have gone unnoticed. “We were honored by winning the Startup Pitch Night award in March 2024, and being chosen as the Innovation and Tech Business of the Year for the Entrepreneurship Award 2024,” Uzair remarked proudly. These accolades are a testament to Procural’s innovative spirit and their significant contribution to the Bahraini business landscape.
What sets it apart from traditional procurement methods and other B2B marketplaces through several key differentiators, Uzair thoroughly explained, “Traditional procurement methods are stuck in the past, hindering growth and innovation. They are burdened by manual data entry, limited visibility into spending, and a slow, error-prone approval process.” Procural addresses these inefficiencies by offering a secure, cost-effective, and user-friendly cloud-based platform.
“Procural revolutionizes procurement by eliminating manual work and paper trails,” Uzair described. “Our real-time data visibility provides complete control over the procurement process, offering valuable insights for informed decision-making.” The platform’s open marketplace connects buyers with a vast pool of qualified suppliers, fostering competition and leading to better pricing and service options.
Moreover, Procural’s comprehensive suite of features, including spend control, purchase order management, and supplier management, caters to businesses of all sizes. They’re not leaving anyone behind!
Still, the journey to develop Procural was not without its challenges. Uzair candidly discussed, “Finding and retaining top-tier developers was a constant battle in the fast-paced IT industry. We were fortunate to have a highly skilled development partner who was instrumental in managing our IT infrastructure and platform development.”
Looking ahead, Procural envisions a future where data-driven decision-making is at the forefront of procurement. “The future of procurement hinges on data,” Uzair emphasized. “By empowering buyers with a clear understanding of their procurement landscape, Procural will equip them to control costs effectively.” The platform plans to continuously integrate cutting-edge technologies like AI and machine learning to automate processes and support data-driven decision-making.
Of course, we had to ask Uzair for words of advice for fellow B2B innovators, and he delivered!, “The key to success lies in understanding real customer problems, not just creating products.” He continued to state that building a strong, diverse team, then launching fast and iterating based on market feedback is better than creating “a perfect product.“
With their commitment to innovation, transparency, and efficiency, Procural is poised to set a new standard for B2B procurement, transforming it from a routine function to a strategic advantage for businesses, first in Bahrain then across the MENA region.
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