Teradix receives $140K TAQADAM grant to support its growth in Saudi Arabia
In order to transform procurement procedures in the Saudi market, Teradix, a top supplier of cutting-edge eProcurement solutions in MENA, announced that it has received a $140,000 grant from King Abdullah University of Science and Technology’s (KAUST) esteemed TAQADAM Accelerator program.
In order to support Teradix’s strategic expansion into Saudi Arabia, the money obtained from the TAQADAM Accelerator program will be essential. With an emphasis on improving its eProcurement solutions, Teradix hopes to spur expansion, optimize procurement procedures, and provide clients in the area with unmatched value.
For companies of all sizes, Teradix provides an extensive range of user-friendly procurement solutions that are intended to increase savings and simplify operations. The platform guarantees that every stage of the procurement process is effective and easy to use by facilitating the smooth management of spending from requisitions to contracts. Every procurement request can result in significant savings for organizations using cutting-edge sourcing tools, such as sophisticated reverse auctions and basic RFQs. By bringing all of the interactions together in one place, Teradix also improves supplier engagement by encouraging improved cooperation and communication. They also offer useful insights and analytics through their customizable dashboards and reports, which enable companies to optimize their procurement strategies and make well-informed decisions.
Khaled Aboshady, Co-Founder and CEO of Teradix, expressed his excitement about the milestone, stating, “Winning this grant from the TAQADAM Accelerator programme is a testament to our team’s sheer focus and efforts. It not only validates our innovative approach to eProcurement but also provides us with the vital resources to expand our presence in the Saudi market and deliver unparalleled value to our clients in the Kingdom.”
The launch of Teradix into the Saudi market marks a new phase in the company’s efforts to revolutionize procurement procedures and promote digital innovation in the area. The business is ready to use this grant to further accelerate its growth trajectory and establish itself as a major force in the e-procurement market.
