TAQA Selects BravoSolution For Spend Management

Solution Will Uncover Savings Opportunities and Accelerate Post-merger Efficiencies

Malvern, Pa. –May 5, 2009 – BravoSolution (www.bravosolution.com), the international leader in supply management software and services, today announced that TAQA, a global energy company, has licensed BravoSolution’s Spend Management solution to identify savings opportunities and synergies following a series of mergers and acquisitions.

TAQA, the Abu Dhabi National Energy Company, is an international energy conglomerate.  Since its inception in 2005, the company has grown rapidly through mergers, acquisitions and joint ventures and now operates throughout the world to provide energy and related services in power generation, combined heat and water, desalination, upstream oil & gas, pipelines and gas storage.  To take advantage of its new scale, TAQA has identified significant savings targets for an aggressive strategic sourcing program using a sourcing wave plan fueled with insights delivered by BravoSolution Spend Analysis.

”We are very pleased to embark on this project with BravoSolution as a partner,” said Shawn Olds, Group Vice President of Global Sourcing at TAQA. “TAQA is a dynamic, fast-growing energy company, and BravoSolution Spend Analysis will afford our growing global sourcing practice the opportunity to dramatically improve the way we identify and prioritize savings opportunities as we continue to grow both organically and through acquisition.”

BravoSolution’s spend analysis solutions will provide the visibility and decision support tools to maximize this savings potential and meet or exceed their objectives.  The first phase of the project will kick off immediately with TAQA NORTH, a subsidiary of the parent company, based in Calgary, AB.  The BravoSolution team will work closely with each business unit to understand historical spend and translate information across the company to find commonalities among purchasing categories and vendors.  Using this master view of division wide spend, BravoSolution will assist TAQA to develop a sourcing wave plan that not only saves money by taking advantage of the company’s aggregated buying power but also allows TAQA to approach its suppliers in a more transparent manner.  The wave plan will identify short- and long-term opportunities that drive immediate savings while ensuring sustainable results.

 “TAQA operates worldwide and we were looking for a partner who could help us aggregate our spend information from widely disparate sources,” said Keith Gelman, Strategic Sourcing Project Manager at TAQA NORTH.  “After speaking with several multinational businesses who have achieved dramatic results with BravoSolution Spend Analysis, we are convinced that BravoSolution will be a partner committed to our long-term success.”

BravoSolution’s experience in delivering spend management solutions in the natural resources industry will help TAQA to quickly develop detailed, accurate insights into their spend and to develop targeted, detailed sourcing wave plans.  BravoSolution has helped many of the world’s largest natural resources businesses in the oil and gas, forestry, water purification and delivery, and energy industries to improve their supply management processes with best-in-class tools and expert services.

“Global business leaders like TAQA are increasingly recognizing the critical role of spend management in planning and managing the supply management process,” said John McNeill, general manager of BravoSolution US.  ”TAQA has a unique opportunity to take advantage of enormous efficiency gains following their recent acquisitions, and BravoSolution’s experience in supporting the spend analysis process across geographies, operating companies, and business lines will allow us to be an effective partner in this important initiative.”

Spend Analysis from BravoSolution provides sourcing and finance professionals flexible and detailed visibility into organization-wide spend. BravoSolution’s comprehensive opportunity planning and compliance analytics are an essential component in supporting complex decision making for some of the world’s largest organizations.  In 2008 alone, BravoSolution supported its customers in managing more than $450 Billion in spending.

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