The Kingdom of Saudi Arabia has been witnessing a strong reform in all industries, especially due to the digital revolution. As a component of its National Transformation Programme, its economic diversification plan is gaining traction and digitally revolutionising industries. KSA has created a competitive business climate, especially in the non-oil-producing sectors, thus reaching a milestone towards Vision 2030. According to one report, Saudi Arabia’s GDP surpassed USD 1 trillion in 2022 for the first time. With growth accelerating to 5.8 percent year over year in Q2 2023 and standing 13.9 percent higher than in 2019, the country’s non-oil private sector has been leading the way in growth for 2023.
The Kingdom has set out six fundamental strategies, which are: Saudi Vision 2030, Digital Inclusion, E-Participation, Data Protection and Privacy, the National Strategy for Data and AI, and the National Cybersecurity Strategy. These crucial policies aim to successfully implement and gain adoption through a dynamic shift in the Saudi government’s previously facilitative approach. There is also a massive commitment in KSA to support tech innovation through various initiatives, including regulatory reforms, investment incentives, and the establishment of tech-focused economic zones such as NEOM and the King Abdullah Financial District. The International Monetary Fund (IMF) has forecast that the Kingdom can reach USD 1.3 trillion in fiscal revenue by the end of 2028.
According to the National Transformation Program’s 2022 report, the kingdom leads regionally and ranks third globally in the World Bank’s GovTech Maturity Index 2022. Saudi Arabia has digitised over 6,000 government services, representing 97 percent of total government services. At the LEAP 2023 conference in Riyadh, Saudi Arabia announced more than USD 9 billion in investments in its technology sector. These investments have led to positive effects, including an increase in business opportunities. KSA has also established a secure atmosphere for investors through a variety of programs, such as making business transactions and contracts easier using technology. These programs encompass issues like e-signatures, online dispute resolution platforms, enhanced technology for document review and compliance, and easier contracting through online platforms like Ejar, Najez, and Absher.
Saudi’s Path to Efficiency
ERP has become an important factor in the process of this digital transformation. The nation’s significant investments in digital infrastructure and technology adoption are reflected in the strength of the ERP market. The enterprise resource planning (ERP) market in Saudi Arabia is forecast to reach a market size of more than USD 40 million by 2029. ERP providers are customising their offerings to meet the diverse demands of several industries. An ERP solution is a collection of all-inclusive software programs created to help organisations consolidate and simplify a range of business activities.
The government’s investments in infrastructure and technology, in line with Vision 2030 plans, have made the environment conducive to ERP deployment. Due to their seamless connection and instant data access, cloud-based ERP solutions are quickly becoming the go-to option for businesses all over Saudi Arabia.
Numerous businesses are leading this movement and making a difference with their changes. One such company is Tamkeen Intelligent, a digital transformation partner that uses innovative strategies and solutions to assist companies of all kinds in adapting to the constantly changing digital landscape. It dedicates itself to providing a wide range of streamlined, synergized, and synchronised digital solutions to assist organisations in achieving their goals of increasing productivity, optimising resources, and realising their full potential.
Crowning Achievements
Tamkeen Intelligent is renowned for its ERP solutions and digital offerings. They provide four digital solutions: intelligent sales management (ISM), intelligent inventory management (IIM), intelligent collection management (ICM), and intelligent time management (ITM). ISM streamlines the entire sales process, including sales team routes, journey planning, customer collections, customer discounts, and promotions. Furthermore, ITM helps in calculating the hours and project expenses without manual transactions. IIM is a mobile application fully integrated with Microsoft Dynamics 365 that maintains an ideal inventory level and records goods movements between sites. In addition to that, it manages warehouse activities such as picking, packaging, and shipping. This app prevents product obsolescence and damage and ensures your products are never out of stock. Lastly, because ICM helps in the automated collection process of financial processes, businesses can minimise errors, reduce costs, and optimise their resources for long-term success.
Acknowledged for their initiatives and novel integrations at the 2024 World Business Outlook Awards, Tamkeen Intelligent took home two prestigious titles: Best Digital Transformation Partner Saudi Arabia 2024 and Best Enterprise Resource Planning (ERP) Solutions Provider Saudi Arabia 2024.
Transforming Tomorrow
Working together with the global and local tech communities is essential to Saudi Arabia achieving its ambitious transformation plan. New technology and creative methods are brought in via international cooperation, which strengthens the local innovation ecosystem. Through these partnerships, Saudi tech companies may access international markets and connect with mentors, investors, and other stakeholders. This helps Saudi Arabia accelerate its goal of becoming a leading digital economy and improves its competitiveness globally.
Blog by Tamanna Shaikh
