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Sun 8 Jan 2006 04:00 AM

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Tadawul deploys Oracle

Tadawul, the securities trading, clearing and settlements system in Saudi Arabia has implemented Oracle’s e-business suite in an attempt to drive even greater operational efficiency.

Tadawul, the securities trading, clearing and settlements system in Saudi Arabia has implemented Oracle’s e-business suite in an attempt to drive even greater operational efficiency.

Abdullah Al-Suweilmy, Tadawul’s general manager, 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 analysts at research house IDC, the Kingdom has witnessed a fivefold increase in demand for ERP, storage, security and content management applications during the last year, with a large proportion of this growth fuelled by public sector investment.

Abdul Rahman Al Theheiban, managing director at Oracle Saudi Arabia, added: “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.”

“By educating and providing ongoing support to its staff, Tadawul has been able to maximise the benefits that the Oracle solution delivers. Given the current Saudi government focus on migration to e-government services as part of an effort to modernise public sector infrastructure, we anticipate similar success stories in the very near future,” he continued.

Tawfege Al-Utagey, Tadawul’s director of IT, added, “Our implementation of the Oracle e-business suite by an experienced Saudi team, complemented by the expertise of the Oracle consulting group in the region, has proved that ERP projects can be rapidly rolled out for fast results and increased return on investment.”

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