KPMG and Microsoft have announced two important strategic initiatives that they say will expand the scope of their global alliance: firstly, to provide clients in Saudi Arabia and around the world with a portfolio of digital solutions, and secondly, to enable KPMG’s smart audit platform, KPMG Clara — built on KPMG business experience and the Microsoft intelligent cloud.
The two organizations are establishing the Global Digital Solution Hub, which will leverage Microsoft Azure intelligent cloud services and artificial intelligence (AI) technology with KPMG business experience to help companies transform all areas of their businesses — including finance, operations, customer experience, and insights-driven decision-making.
The companies also announced plans to place the new KPMG smart audit platform, known as KPMG Clara, on Microsoft Azure. This will make KPMG the first of the Big Four professional services firms to enable its member firms to conduct external financial statement audits utilizing Azure, a comprehensive, cloud-based platform.
Samer Abdallah, head of digital transformation, data and analytics, KPMG Saudi Arabia, said: “In our recent 2017 KPMG Global CEO Outlook Survey, nearly half of the CEOs responding expect major disruptions in their sector from technological innovation within the next three years, with more than 90 percent of CEOs surveyed in Saudi Arabia viewing technological disruption as more of an opportunity than a threat.”
He added: “Similar technological trends are also projected by the research firm Gartner estimating that by 2020, 30 percent of new solutions will include artificial intelligence (AI) technologies.
“Creating the Global Digital Solution Hub re-affirms KPMG’s and Microsoft’s commitment to develop innovative solutions to address our clients’ needs in the digital disruption era. New solutions from the hub will leverage artificial intelligence, data and analytics, to optimize our clients’ business performance, profitability, and growth.”
Satya Nadella, Microsoft CEO, said: “As every industry and every organization becomes digitized, leaders are looking for the right technologies and partners to accelerate their transformation.
“Working with firms like KPMG, we aim to help customers harness the intelligent cloud and build AI capability to drive business outcomes and unlock new opportunities.”
KPMG Global Chairman John Veihmeyer said: “Placing our smart audit platform on the Microsoft Azure cloud and leveraging other Microsoft technologies will accelerate and expand digital capabilities to further enhance quality, consistency and efficiency.”
KPMG, Microsoft announce portfolio of digital solutions
KPMG, Microsoft announce portfolio of digital solutions
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
