Monaqasat, An Online Tender Process Management Platform
Monaqasat is an online tendering service that covers all middle eastern markets, and aims to be a central hub for all tendering activities, from sharing of documents to online bidding.
The idea is to enable users to manage their tendering and procurement process in an easy, efficient and secure way; catering to the needs of all types of institutions of all sizes and industries in the Middle East region.
Monaqasat aims at offering a full experience to the institutions using it, by implementing the complete tendering process, allowing its users to create tenders, invite stakeholders, submit and review tender documents, submit their online bids and automatically generate tender reports the instant the tender is completed, all from the confort of their own offices.
Monaqasat’s pricing structure and the way it generates revenue is setup as follows:
- Institutions using the service need to pay a yearly membership fee (AED 2000 / year) to access the majority of features of the system and be able to create and manage an unlimited amount of tenders.
- On the other hand, a tender access fee needs to be paid by participating bidders; this fee is defined as a percentage of the tender documents fees (30%).
The company recently announced that in just a year since the company launched in 2009, Monaqasat.com has attracted more than 500 companies to use the platform, and that project tenders worth over Dh1 billion ($272 million) have been managed and awarded through their online platform.
Companies using the system include banks, consultants and contractors such as ADCE (the engineering branch of ADCB), KEO, ACG, Helal & Partners, Syrconsult, Heberger Engineering, Dar Al Omran Abu Dhabi Architectural Engineering Consultancy and Al Meedan, Al Fara’a, Dhafra Intl Projects, Dhafir Development & Contracting LLC, Group 3, Q Construction LLC and Al Mezin General Contracting.
Monaqasat is a product of NuServ O.T.S. L.L.C., an Abu Dhabi based company, that was founded by Karim Helal and Vlad Romascanu.