Photo caption: Sultan Saud Alsaif, Executive Director of Technology & Innovation, SIRC, and Dr Fahd Nawwab, Vice President, SAP Saudi Arabia, attended a ceremony to celebrate the successful deployment of several technology solutions and to sign an MoU extending the relationship between their companies.
Riyadh, KSA – 16 April 2024 – The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), has announced the successful deployment of solutions from global technology company SAP that will modernize business processes including procurement infrastructure and employee management. The two parties are also deepening their existing relationship, signing a memorandum of understanding (MoU) to explore the creation of a digital transformation roadmap that will enable SIRC to enhance its environmental performance and reporting capabilities and leverage new technologies to enrich customer services.
SIRC and its subsidiaries Akam and Reviva successfully deployed SAP S/4HANA enterprise resource planning (ERP) solution, SAP Analytics Cloud, SAP Ariba and SAP SuccessFactors, with implementation at several other subsidiaries to follow soon. This represents an extension of the company's partnership with SAP, which began in 2022 with SIRC adopting an ERP solution.
Sultan Saud Alsaif, Executive Director of Technology & Innovation at SIRC, commented, 'As champions of the circular economy and supporters of the National Waste Management Framework, SIRC seeks out investors and partners who share a genuine commitment to supporting the environment. Through the MoU with SAP, we are collaborating on innovative ways to leverage technology that will enhance our contributions to, and reporting on, environmental protection initiatives. At the same time, our operations need to run efficiently and productively, following best industry practices, which is why we have deployed SAP Analytics Cloud, Ariba and SuccessFactors as part of a comprehensive digital transformation program. These deployments ensure our employees are engaged and our procurement is managed intelligently, while the automation of business processes and data analysis improve efficiencies, ultimately enhancing the experience for all parties involved.'
Established in 2017, SIRC is committed to achieving the environmental and sustainability objectives outlined in the Kingdom's Vision 2030 through advancing waste management practices, promoting recycling initiatives, conserving natural resources, and moving towards a circular economy. The company develops, owns, operates and finances various activities across all waste types in the Kingdom.
Alongside the current deployments, SIRC and SAP will be focusing in particular on two strategic priorities this year as part of the MoU. The first is enhancing customer experience, which could include SIRC implementing a next-generation CRM platform. The second is exploring how SAP's portfolio of sustainability-focused solutions could be leveraged to help SIRC analyze and report on sustainability KPIs and its carbon footprint.
Dr. Fahd Nawwab, Vice President, SAP Saudi Arabia, commented, 'Given the pivotal role played by SIRC as the driving force behind circular economy investments in the Kingdom, it was important to have future-proof, scalable and intelligent spend and human resource management solutions that could be integrated seamlessly into its existing SAP landscape. Sustainability is core to SAP's corporate strategy and our purpose to help the world run better and improve people's lives. SAP's values are aligned with those of SIRC, so it is natural for our partnership to extend beyond a technical digital transformation to co-innovating and collaborating on environmental initiatives and reporting.'
The SAP Ariba portfolio offers an end-to-end spend management system with integrated supplier information, lifecycle, performance, and risk management functions. SAP SuccessFactors Human Experience Management (HXM) Suite provides comprehensive global HR software, spanning core HR and payroll, talent management, HR analytics and workforce planning, and employee experience management.
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