Riyadh, Saudi Arabia — Teradix, a leading provider of advanced eProcurement solutions across the MENA region, has been awarded a $140,000 grant from the prestigious TAQADAM Accelerator programme at King Abdullah University of Science and Technology (KAUST). This funding aims to support Teradix’s ambitious expansion into the Saudi market, enhancing its capabilities to streamline procurement processes and deliver unmatched value to businesses across the Kingdom.
The grant, awarded under TAQADAM’s mandate to foster technological innovation and entrepreneurship in Saudi Arabia, will be instrumental in driving Teradix’s growth in the region. With this financial backing, Teradix plans to advance its eProcurement solutions, empowering organisations to reduce costs, increase operational efficiency, and elevate their overall procurement experience.
Teradix provides a comprehensive platform for seamless, intuitive procurement management, designed to serve businesses of all sizes. From requisitions to contracts, Teradix’s solution covers the entire procurement lifecycle, ensuring efficiency at every step. The platform includes innovative sourcing tools—ranging from straightforward Requests for Quotations (RFQs) to sophisticated reverse auctions—enabling businesses to achieve significant savings on each procurement request. A centralised interface enhances supplier engagement, promoting better communication and collaboration. Meanwhile, customisable dashboards and advanced reporting provide powerful insights, enabling clients to make informed, data-driven decisions and optimise their procurement strategies.
“Winning this grant from the TAQADAM Accelerator programme is a testament to our team’s focus and commitment,” said Khaled Aboshady, Co-Founder and CEO of Teradix. “This support not only validates our innovative approach to eProcurement but also provides us with vital resources to establish a strong presence in the Saudi market. We’re excited to bring unparalleled value to our clients in the Kingdom and to drive digital transformation in procurement processes.”
Teradix’s entry into Saudi Arabia marks a significant milestone, reinforcing its position as a transformative force in the MENA eProcurement space. With its expansion, the company aims to reshape procurement practices, foster digital innovation, and strengthen its role as a key player in the region’s evolving procurement landscape.
