The Ministry of Finance has launched the newly updated catalogue for the Digital Procurement Platform, which has expanded to include 35 categories containing more than 120,000 products and services provided by 230 suppliers, a report said.

The event, gathering the attendance of representatives from more than 30 federal entities, featured an introduction to the advantages of purchasing through the catalogue compared to traditional processes, contributing to a 75% reduction in procurement steps and reducing the time required for the purchase process from an average of 60 days to six minutes, Emirates News Agency, WAM, said.

The central procurement unit at the Ministry of Finance has negotiated with suppliers to obtain the best prices for products and services.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, said: “We aspire to be global leaders in the financial field, and to contribute to achieving the UAE’s vision. Our event today marks a new milestone on the path of innovation, collaboration, and the exchange of ideas.

“Together with our partners from federal government entities, we are charting a course towards a future where efficiency, transparency, and innovation define government procurement.

“The Digital Procurement Platform is part of the strategic directions expressed by the five major transformational projects of the Ministry of Finance, including the first project, the Supply Strategy of the Federal Government, which aims to incorporate new categories of suppliers for the federal government to support national economic growth and enhance government efforts aimed at expanding and diversifying the supplier base in the federal government.

“This, in turn, contributes to improving the quality of services and products for federal procurement at competitive prices.”

The Digital Procurement Platform is a strategic and vital project in digital transformation, especially in managing purchasing operations at the federal level. It has brought about a positive change in terms of efficiency, transparency, monitoring expenses, and expenditures.

The acceleration of purchasing processes and the simplification of procedures have facilitated access to purchasing and supplier information in the system automatically and electronically. This transformation reflects our commitment to sustainable digital transformation and the spirit of innovation in enhancing the efficiency of spending in government work.

The platform has provided an easy and flexible user experience by designing a simple user interface to facilitate navigation, minimising complexity and increasing productivity, which has helped to speed up the procurement process more effectively.

It has succeeded in enhancing automation and electronic catalogues to shorten the required time for the purchasing process. A system that allows a clear view of transactions and expenditure analysis for better financial decisions, including support and preservation of resources for future generations, has also been provided.

Participants at the launch event were introduced to the newly updated catalogue that reduces the number of steps for procurement processes from 11 to three. In addition, new features in the Digital Procurement Platform were presented, including electronic contract drafting, contract signing using digital identity, the reporting dashboard, and the budget verification feature.

The platform also provides a reverse auction feature when launching a digital tender and tracks the progress of purchase requests and orders. The catalogue also displays a section for SMEs, to facilitate access to their products and services.

The new catalogue categories include advertising and media services, real estate insurance, travel services, consulting services, installations and interior design, property management, information technology services, legal services, photography and video, studies and research, training, translation, and other services.

In addition, a panel discussion about emerging technology in digital procurement took place during the launch event.