Frequently Asked Questions
At MUHIDE, we’re dedicated to addressing your common questions and ensuring transparency. If you don’t find the information you need, please reach out to our friendly team for assistance.
1. How can MUHIDE platform help my company?
MUHIDE is a fintech platform that authenticates and legally govern the trade relationship between buyers and sellers. The platform is designed in a user-friendly way where buyers of goods or services are empowered to efficiently manage sellers and sub-contractors, securing optimal deals and substantially curbing risks related to fraud, inaccuracies, and financial inefficiencies.
This unified platform facilitates the seamless onboarding of all stakeholders, offering an encompassing e-procure-to-pay system. Through MUHIDE, trade documents undergo seamless digitization by converting them into immutable smart contracts impervious to alteration or manipulation.
Buyers will be able to invite their sellers onto the platform, executing transactions with transparency visible to participating financiers. This enhanced transparency prompts financiers to readily finance sellers, bolstered by comprehensive end-to-end visibility and risk mitigation.
2. Can MUHIDE platform facilitate financing for buyers and sellers?
Absolutely, MUHIDE's platform offers a robust solution that empowers sellers with receivables financing opportunities.
On the flip side, buyers stand to finance their purchases by financiers that tap into the MUHIDE platform to strategically mitigate potential risks.
3. What trade transactions can be executed on MUHIDE platform?
All types of individual, public and private sectors’ transactions can be executed on MUHIDE platform including trade of goods, services and installation services. The platform currently focuses on private sector (B2B) transactions, with other types of transactions to be activated soon.
4. Is MUHIDE platform suitable for businesses of all sizes?
Indeed, MUHIDE platform is tailored to serve the unique needs of businesses, regardless of their scale – from microenterprises and SMEs to large corporations. We also offer dedicated solutions for banks, financiers and the governmental sector.
5. How does the platform work?
- MUHIDE customers register directly from the website, and all companies are authenticated through MUHIDE’s integration with the "Wathq" platform.
- Upon entering the platform, they input their company details and invite team members with different permissions.
- Buyers invite sellers to join the platform.
- A unified sales and purchase agreement is signed by an authorized person from both companies, verified through “Nafath,” and a digital signature certificate is sent to both the seller and the buyer.
- Company employees invited to the platform carry out their tasks through it, overseeing the entire process from Request for Quotation to delivery and invoice issuance.
- On the delivery date, both buyers and sellers must use MUHIDE's mobile app to manage and streamline the receiving and delivery processes, ensuring the rights and protections of both parties.
6. I am already using an ERP for my procurement activities, will using MUHIDE duplicate my work?
Not really, Muhide platform provides you with the flexibility to seamlessly integrate MUHIDE platform with your ERP system. This integration eliminates the need for redundant tasks and ensures a streamlined workflow.
MUHIDE platform thrives as a comprehensive standalone solution, presenting a diverse array of services. However, if you decide to maintain your existing ERP, MUHIDE integration bridges the gap, extending to you the advantages and values that extend beyond the scope of traditional ERPs.
7. Does MUHIDE platform follow a specific Law in the Saudi market?
Yes, MUHIDE has been designed in compliance with and based on the Electronic Transactions System issued by Royal Decree No. M/18 dated 8/3/1428.
8. Do you offer any training or resources to help users maximize the platform's benefits?
Of course, we've got you covered. MUHIDE user manuals are available in both English and Arabic in addition to demonstrations.
We also provide training sessions when needed and operate a call center to promptly assist with any questions from your team or other stakeholders. Your experience with us is designed to be smooth and supported every step of the way.
9. How does MUHIDE platform compare to other procurement and financing solutions? What makes MUHIDE unique?
The MUHIDE platform stands apart from conventional ERPs and standard procurement software in significant ways. MUHIDE distinction lies in addressing a realm that these providers do not cover. While ERPs and procurement software primarily focus on specific operational aspects, MUHIDE focuses on authenticating and governing your trade relationships, while also incentivizing financiers to extend credit for buyers' purchases and discount sellers' invoices.
Unlike conventional systems that focus solely on digitizing supply chain transactions, MUHIDE's uniqueness lies in its comprehensive approach. We don't just automate processes; we take it a step further by mitigating risks, expanding your business opportunities, reducing costs, and ensuring meticulous oversight of every transaction.
MUHIDE is the only platform that offers a delivery assurance protocol ensuring tamperproof transactions and providing legal and documented evidence.
10. Do I need large staff to maintain MUHIDE Platform?
No, you won't require a large staff to maintain MUHIDE Platform. In fact, MUHIDE platform is designed to reduce manual work by automating various processes. This efficiency allows your employees to shift their focus from routine tasks to more critical and strategic responsibilities.
MUHIDE empowers your existing team to optimize their efforts and make a greater impact without the need for additional staff.
11. What savings should I expect in implementing MUHIDE solutions?
By implementing MUHIDE solutions, you can anticipate a range of significant savings. Expect notable reductions in procurement time as processes become more streamlined.
Additionally, the implementation of MUHIDE will act as a deterrent to fraud, safeguarding your financial interests. The enhanced governance and comprehensive visibility provided by MUHIDE platform will help you plug financial leakage.
As a buyer, using MUHIDE gives you an edge. Sellers can access invoice discounting through MUHIDE's banking partners, allowing you to negotiate better credit terms with them. The platform also serves as a shield against commercial disputes and defective deliveries, sparing you from potentially costly scenarios.
As a seller, MUHIDE provides you with legal evidentiary tools that protect deliveries and secure your financial rights in an unprecedented manner. This significantly reduces risk costs and acts as a preventive measure against financially costly errors, saving both time and effort.
In essence, embracing MUHIDE leads to a cascade of savings that positively influences your bottom line, ensuring a more resilient and prosperous business landscape.
12. Can MUHIDE help with price benchmarking?
Certainly. MUHIDE is highly capable of assisting with price benchmarking. MUHIDE sophisticated platform offers invaluable insights that empower you to conduct thorough price analyses across a wide spectrum of sellers and diverse projects or orders.
13. Do I have to replace sellers who are not tech savvy, so I can use MUHIDE Solutions?
Absolutely not. In fact, MUHIDE platform has been meticulously crafted to ensure user friendliness and seamless communication with sellers, contractors, and subcontractors alike. We recognize the diverse technological backgrounds of stakeholders, and MUHIDE interface is designed to be intuitive and accessible to everyone.
Moreover, we provide comprehensive user manuals to guide you every step of the way. Additionally, MUHIDE dedicated call center is readily available to provide assistance whenever needed, ensuring a smooth experience for all parties involved. Your sellers' technological comfort is a priority, and MUHIDE platform is tailored to accommodate and empower them.
14. Does the platform require monetary approvals?
No, since the platform is not involved in the payments which are securely and exclusively managed by the banks, accordingly, it does not require licensing from the central banks.
15. Can a seller request an invoice discounting (early payment)?
The sellers can initiate a request for early payment from the financiers, leveraging successfully generated commercial invoices. The financiers, in response, offer early payment discount rates(based on the financiers’ policies) and sellers have the flexibility to accept or decline the financier's offer.
16. What about the disputes between buyers and sellers?
We do not get involved in the disputes between buyers and sellers. MUHIDE platform uses digital agreements and a joint agreement that both the buyer and seller need to digitally accept. These agreements have terms in place to safeguard both parties using the platform and they are based on the recognized judicial systems.
Moreover, MUHIDE's design serves as a comprehensive framework governing all aspects of the operational relationship conducted on the platform. At its core is a delivery assurance protocol, a pioneering mechanism that offers an unprecedented level of protection for both buyers and sellers. This protocol significantly minimizes the likelihood of potential commercial disputes, ushering in a new era of enhanced trade confidence.
17. Is the platform a Marketplace?
Not really, think of the Platform as a special club, once buyers are registered, they can connect with sellers who are already members, invited by other buyers or invite new sellers. The main objective is to create a platform to authenticate and legally govern the trade relationships.
18. What are the reports which can be extracted from the platform?
The platform offers a real time dashboard that illustrates the funds utilization, it includes a built-in analytics section that provides in-depth insights into the entire supply chain operations and procurement-to-payment cycle.
19. Does MUHIDE have any information security certifications?
We are an ISO 27001 certified company.
20. Which blockchain technology MUHIDE uses?
MUHIDE uses Ethereum technology.
21. Is MUHIDE Blockchain-based or Blockchain-enabled?
MUHIDE platform is blockchain-enabled, the platform utilizes blockchain technology to transform traditional manual documents into smart contracts stored in the google cloud in KSA.
22. Is MUHIDE platform web based or available as a mobile application?
The MUHIDE platform primarily operates through the web, yet it seamlessly extends its functionality through a dedicated mobile application, catering specifically to the delivery process.