The Saudi Investment Recycling Company (SIRC), owned by the Public Investment Fund (PIF), has successfully deployed solutions from global technology company SAP that will modernize its business processes.
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.
Genuine commitment
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.”
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 analyse and report on sustainability KPIs and its carbon footprint.
Pivotal role
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.”