https://arab.news/zt8hz
RIYADH: Saudi Arabia’s small and medium enterprises covered under Aramco’s Taleed program are set to have access to affordable software as the oil giant signed a memorandum of understanding with open-source end-to-end business software provider Odoo.
Under the agreement, the integrated software firm will provide SMEs with the necessary digital services and support to propel their digital transformation journey in the Kingdom, according to a press release.
Aramco launched the Taleed program in October with an aim to accelerate the growth of SMEs in Saudi Arabia as it looks to boost their contribution to economic development and support job creation.
The main objective of the strategic collaboration is for Odoo to enable SMEs to become less time and cost-consuming and more efficient, it added.
The solutions to be offered by Odoo are meant to elevate the performance of SMEs as a whole including boosting revenues, cutting costs, innovating, and more.
In addition to this, it said that having one platform instead of several applications from various software providers will allow SMEs to further simplify their data collection process, generate precise reporting, and come up with accurate as well as targeted decisions.
“Digital transformation is more important than ever and Odoo with its fully integrated and intuitive software is a perfect choice for every business that wants to benefit from it in the most effortless way possible,” said Pavitra Singh, managing director of Odoo Middle East DMCC.
The strategic partnership between both entities is part of their long-term goals and objectives outlined under the Saudi Vision 2030.
Under the Vision 2030 goals, the SME sector is eyeing 35 percent contribution to the national gross domestic product by 2030 and Aramco is keen on being part of that, senior Vice President of technical services at Aramco Ahmad Al Sa’adi said in an exclusive interview with Arab News.
This comes as the SME sector is perceived as a vital economic engine, a key generator of new employments, and the foundation of global economy, Al Sa’adi disclosed.
Furthermore, SMEs will play a significant role in achieving Saudi Arabia’s objectives of lowering the unemployment rate from 11.6 percent to 7 percent, increasing women’s participation in the workforce from 22 percent to 30 percent, according to Saudi Press agency.
The Taleed program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives, with aim to deliver funding and financial solutions to existing and new businesses through five funds, with a combined capital exceeding SR3 billion ($800 million), a press release stated.
While the Taleed program currently caters to around 150 SMEs, it is targeting to reach as much as 15,000 SMEs in the near future, according to Al Sa’adi.
SMEs that are part of the program will have access to special programs, funding, training, consulting services, and many more, Al Sa’adi revealed.