As part of Tadawul’s comprehensive strategy to improve operational efficiency, the management of the Saudi stock exchange decided to implement an enterprise resource planning (ERP) solution. Abdullah Al-Suweilmy, Tadawul’s GM, said: “We selected Oracle E-Business Suite, which improved our access to real-time data, allowing us to enhance the flow of information between departments, making the entire business more efficient and further improving our service to customers.”
According to analyst group IDC, there has been a five-fold surge in demand for ERP, storage, security and content management applications in the Kingdom during the last year, with much of this growth being fueled by public sector demand.
“Tadawul’s swift and successful implementation of Oracle E-Business Suite — the new system was rolled out in less than 45 days — is considered the fastest Oracle E-Business Financial Implementation in Saudi Arabia and one of the fastest implementations in the world,” explained Oracles’ Saudi Managing Director Abdul Rahman Al-Theheiban. “By educating and providing ongoing support to its staff, Tadawul has been able to maximize the benefits that the Oracle solution delivers. Given the current government’s focus on migration to e-government services as part of an effort to modernize public sector infrastructure, we anticipate similar success stories in the very near future.”