{"id":2943,"date":"2020-05-04T12:59:52","date_gmt":"2020-05-04T08:59:52","guid":{"rendered":"https:\/\/techxmedia.com\/?p=2943"},"modified":"2025-04-18T02:17:13","modified_gmt":"2025-04-17T22:17:13","slug":"sidf-digitally-transforms-boost-sar-184-billion-industrial-market","status":"publish","type":"post","link":"https:\/\/techxmedia.com\/en\/sidf-digitally-transforms-boost-sar-184-billion-industrial-market\/","title":{"rendered":"SIDF digitally transforms to boost SAR 184 billion industrial market"},"content":{"rendered":"\n

The Saudi Industrial Development Fund (SIDF) has announced a\ndigital transformation partnership with technology company SAP. Saudi Arabia\ncontinues to post strong industrial growth, with Invest\nSaudi showing<\/a> the market is worth SAR 184 billion and is growing 6 percent\nper year. Today, the Kingdom holds 60 percent of the GCC\u2019s industrial market.<\/p>\n\n\n\n

In line with Saudi Vision 2030\u2019s nationwide digital\ntransformation goals, along with the National Industrial\nDevelopment and Logistics Program<\/a>, and the National Transformation\nProgram 2020, SIDF\nwas trusted to boost the competitiveness and sustaining strategic initiatives\nof the Kingdom\u2019s industry, mining, energy, and logistics sectors.<\/p>\n\n\n\n

SIDF worked with SAP channel partner in Saudi Arabia to replace\nmore than 70 legacy applications in the core business with real-time digital\ndashboards, including one for customer relationship management. Thanks to the\nfully automated system, SIDF has gone paperless, with fully digital and\nelectronic approvals.<\/p>\n\n\n\n

Showing the strong business results, SIDF has delivered\nautomation through the Tamkeen platform, leading to 60 percent less time to\nprocess loan applications and 70 percent less time for loan disbursements.<\/p>\n\n\n\n

\u201cAs the Kingdom\u2019s industrial sector grows, SIDF needed to\nmigrate 40 years\u2019 worth of data to one digital platform to deliver the optimal\nfinancing for the Kingdom\u2019s industries,\u201d said Abdulaziz Al-Ghufaili, Vice\nPresident of Technology, SIDF. \u201cNow, we have full and real-time visibility on\nour loan processes, leading to more streamlined loans and a more competitive\nindustrial sector aligned with Saudi Vision 2030.\u201d<\/p>\n\n\n\n

SIDF\nhas also Intelligently deployed innovative technologies, including the\nintegration of automatic credit check and the automatic banking interface Bank\nCommunication Manager. SIDF has also embraced new technologies such as Advanced\nJava, AngularJS, Business Intelligence\/Business Objects, Json, and UI5 to anticipate,\nmeet and exceed the needs of clients.<\/p>\n\n\n\n

The success story has culminated in SIDF winning an SAP MENA Quality Award, which recognize the region\u2019s top digital transformation initiatives, in the \u201cBusiness Transformation\u201d category.<\/p>\n\n\n\n

\u201cSIDF shows how financial\norganizations can digitally transform into Intelligent\nEnterprises and continue the commitment of supporting the industry to reach\ntheir full potential,\u201d said Taha AlMadani, <\/strong>Head\nof Customer Success and Active Quality Management, SAP Middle East North. \u201cAs part of SIDF\u2019s focus on\ncustomer experience, Saudi industrial players can apply for and receive loans\nquicker and receive feedback in real-time. We will continue to support Saudi\nVision 2030 with the latest innovations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In line with Saudi Vision 2030\u2019s nationwide digital transformation goals, along with the National Industrial Development and Logistics Program, and the National Transformation Program 2020, SIDF was trusted to boost the competitiveness and sustaining strategic initiatives of the Kingdom\u2019s industry, mining, energy, and logistics sectors.<\/p>\n","protected":false},"author":8,"featured_media":2949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9639,9621,9653,9624],"tags":[655,576,492,1327,710,399,1328,210,552,1326],"contributor":[],"class_list":["post-2943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech-emerging-technologies","category-emerging-technologies","category-energy-industry-news","category-smart-sectors","tag-business_transformation","tag-digital_transformation","tag-energy","tag-industries","tag-ksa","tag-logistics","tag-mining","tag-partnership","tag-saudi_vision_2030","tag-sidf"],"featured_image_src":"https:\/\/techxmedia.com\/en\/wp-content\/uploads\/2020\/05\/SIDF-logo-en-w-e1588583881533.png","author_info":{"display_name":"Rabab","author_link":"https:\/\/techxmedia.com\/en\/author\/rabab\/"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/2943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/comments?post=2943"}],"version-history":[{"count":0,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/posts\/2943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media\/2949"}],"wp:attachment":[{"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/media?parent=2943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/categories?post=2943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/tags?post=2943"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/techxmedia.com\/en\/wp-json\/wp\/v2\/contributor?post=2943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}