An industry that never stands still
At the centre of Vision 2030 is diversification from an economy based on natural resources to being driven by trade, innovation and investment through technology. ICT will contribute around 5% to the KSA’s total GDP and 8% to non-oil GDP by 2022 according to Oxford Business Group.
Like the industrial revolution before it, the digital revolution is changing the world for ever. Economically, socially and practically, our lives will never be the same again.
Even now, the way we work, the entertainment we consume, the personal connections we make, are all facilitated by technology. It affects everything we do - with more to come once the Internet of Things goes mainstream. The technology, media and telecommunications (TMT) industry is a massive part of that development. It, like the world around it, is constantly evolving.
Fortunately, the TMT industry and the businesses within it thrive on change. They are rising to the challenge. Just as technology firms are innovating and scaling rapidly, media companies are personalising and integrating; and all the while telecommunication companies are feeding the monster that is the ever-increasing demand for bandwidth. The lines are rapidly blurring between these formerly distinct sectors.
The winners in this environment are those prepared to assess the risks and possibilities, and rethink their strategies. Ambitious businesses are developing new operating models and compliance procedures. They are thinking seriously about M&A’s, both at home and abroad. And they are competing for talent more fiercely than ever before.
They are succeeding at achieving accelerated growth; however, adaptability and focus are crucial components as well: cool heads and clear thinking is imperative and that’s where Grant Thornton comes in.
Why Grant Thornton?
We are specialist advisers to the TMT industry. We’re all about minimising risk, maximising profitability, and unlocking the potential for growth for businesses.
Local sector knowledge and technical capability are fundamental parts of our service, but there is more to us than that. We have a deep, practical understanding of the industry, around the world, for businesses at every stage of their maturity.
We work with a broad range of dynamic organisations, from emerging companies to rapidly expanding ones, as well as established industry players, in more than 135 countries worldwide. So, whatever your size or location, you can be sure that we understand your business needs today and what you will need to grow tomorrow.
Our international network of member firms will support your ambitions and help you connect across borders. Our people are responsive, proactive and pragmatic. We will deliver a commercial solution that works for you.
So whether you need to improve efficiency, scale operations as you grow, or access alternative sources of funding, we can help. We have the insight and experience to help you succeed.
Our TMT team offers services tailored to your industry, including working with you to:
- grow and scale your operations
- identify and manage risk
- manage your corporate finances
- provide transactional advisory services including post M&A merger and integration support
- advise on business process improvements and optimisation.
To learn more about our TMT services contact our team.