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Financial Transformation of the Finance Function in KSA
Financial transformation is an important step in the economic development and maturation of any country that wishes to compete in the global market. As it stands, Saudi Arabia's financial sector is still in the process of developing its full potential. With recent government initiatives and the implementation of more robust economic policies, the Kingdom is taking steps to improve its financial stability and modernize its finance function.
In this article, we will explore why financial transformation is necessary for KSA, how businesses can prepare for it, and the potential benefits that this transformation can bring.
Zakat and Tax Home
Blog
Financial Transformation of the Finance Function in KSA
Financial transformation is an important step in the economic development and maturation of any country that wishes to compete in the global market. As it stands, Saudi Arabia's financial sector is still in the process of developing its full potential. With recent government initiatives and the implementation of more robust economic policies, the Kingdom is taking steps to improve its financial stability and modernize its finance function.
In this article, we will explore why financial transformation is necessary for KSA, how businesses can prepare for it, and the potential benefits that this transformation can bring.
Financial services Home
Blog
Evolution of the Financial Services Industry in KSA
The financial services industry is experiencing a seismic shift. Disruptive companies such as Uber and Airbnb have disrupted traditional businesses such as hotel chains and taxi firms with innovative technologies. In the same vein, financial technology (FinTech) startups are shaking up the financial services industry with innovative technologies that are changing how we bank, make payments, and invest.
Travel, tourism & leisure Home
Aviation Insights
Preparing for the return of travel
From liquidity to debt and restructuring, we address the diverse and complex
challenges faced by airlines, leasing companies and aircraft funds in particular.
We also consider implications for employers and how financial planning for the
medium and long term will be affected.
Healthcare Home
GrowthiQ
Lessons on big data from the healthcare sector
The healthcare sector is still experimenting with using big data but, as Anne McGeorge the national managing partner of healthcare at Grant Thornton US shares, it already has plenty to teach us about the benefits and challenges of big data analytics.
Services
Advisory
Steering the right course to growth
Create Value, Transform value, Protect value
At Grant Thornton, we offer a comprehensive range of advisory services to help you achieve your goals. We help you create, transform and protect value. From finding ways to finance growth to understanding how to manage risk and regulation; from identifying opportunities to optimise operations, to getting the best from talent, our global network provides the expert support you need to thrive in a fast changing world.
Create value
- Explore your strategic growth options, advise on and project manage the chosen solution
- Establish the true commercial potential of the business you are looking to acquire
- Apply experience, determination and pragmatism to bring deals safely through to conclusion
- Deliver valuation support during transactions and disputes and expert advice in support of regulatory and administrative matters
- Diagnose and address underperformance, and devise workable solutions that maximise value and deliver a sustainable recovery
- Help you understand how best to protect and maximise value.
Transform value
- Define strategic goals and formulate solutions that keep you ahead of disruptive change
- Help you sustain and finance growth, manage risk and talent, optimise operations and protect value
- Improve financial processes and systems, reduce costs and transform your finance function
- Remove the burden of back office operations and compliance challenges, enabling you to focus on growth
- Deliver systematic improvements across people, processes and technology, right through the supply chain
- Engage, specify and deliver scalable technology solutions
- Help you make better use of increasingly large amounts of data, using tools and analysis to transform decision-making processes.
Protect value
- Implement effective and reliable governance and compliance procedures
- Help you understand and manage risk and seek an appropriate balance between risk and opportunities
- Develop systems to prevent fraud and corruption
- Assess cyber risk and help you manage it by improving culture, technologies and processes
- Provide a rapid, practical response to get you operating securely again as fast as possible in the event of a security incident.
Talk to us
Learn more about our Advisory team and how they can help you steer the right course to growth.