The Saudi Investment Recycling Company (SIRC), a wholly-owned unit of the kingdom's sovereign wealth fund PIF, has signed an agreement with global technology major SAP to become the first customer in the Kingdom of Saudi Arabia to implement the SAP Sustainability Control Tower. 

 

This milestone underscores SIRC’s commitment to pioneering sustainability within the kingdom, aligning with Saudi Vision 2030 and laying the groundwork for its ambitious plans to become a chief enabler of domestic carbon credits.

 

This partnership highlights SIRC’s commitment to pioneering Saudi Arabia’s sustainability landscape and accelerating the kingdom’s transition to a circular economy, underpinned by SAP’s advanced technology and sustainability expertise. 

 

Building on their partnership, which began in 2022 with an initial ERP deployment, SIRC and SAP last year signed an agreement to deepen their collaboration to support SIRC’s ambitious sustainability strategy, while also exploring how AI-infused solutions could enhance customer services and tackle industry-specific challenges.

 

This new agreement will see SIRC leverage RISE with SAP to drive AI-powered, scalable operations while establishing a solid data foundation to measure and report sustainability objectives via the SAP Sustainability Control Tower. 

 

As per the deal, SIRC will be able to track enterprise carbon footprints, measure sustainability metrics, and prepare for regulatory disclosures. 

 

The SAP Sustainability Control Tower enables seamless reporting across various global frameworks, supporting SIRC’s mission to drive a sustainable economy in the Kingdom. Additionally, SIRC is leveraging SAP’s Waste Management Industry Solutions to implement an innovative approach to waste collection and treatment, further aligning with Saudi Vision 2030’s goals for sustainable environmental practices, it added.

 

 Abdulrahman Alobayed, HR & Shared Services Executive Vice President of SIRC, said: “SIRC is the driving force behind circular economy investments, and we are known for spearheading innovative and transformative initiatives that pave the way for a cleaner, greener tomorrow."

 

"With SAP’s cutting-edge solutions, we’re building the foundation to monitor our environmental impact more effectively – advancing Saudi Vision 2030’s goals and setting the stage for issuing local carbon credits to boost the Kingdom’s sustainability achievements. At the same time, we’re enhancing our services to customers and partners with a comprehensive suite of SAP AI-powered applications, including customer relationship management and industry-specific solutions," he added.

 

In developing the digital transformation roadmap, SIRC and SAP identified three main objectives: creating a solid foundation for sustainability management; establishing an easily scalable service center for its subsidiaries; and deploying business AI to tackle industry-specific challenges and enhance customer services. 

 

The adoption of the Sustainability Control Tower and RISE with SAP, including AI-infused enterprise resource planning, customer relations management and industry-specific solutions, will satisfy all of these objectives,

 

Dr Fahd Nawwab, Vice President, SAP Saudi Arabia, said: "This partnership with SIRC is a testament to SAP’s commitment to helping our customers in Saudi Arabia realize their environmental and business goals with scalable, AI-powered solutions.''

 

"We are proud to support SIRC’s journey to establish a sustainable business model, creating the data transparency required to enable carbon credit trading in the Kingdom," he added. 

 

In the coming months, SIRC and SAP will continue to expand their focus on customer experience through enhanced CRM platforms and rollout of SAP Concur for expense management, providing a comprehensive approach to sustainable, tech-enabled growth. Looking ahead, the companies plan to explore additional SAP solutions. 

 

This will include future-focused technologies for carbon management and Industry 4.0 advancements at SIRC’s Reviva plant, which could serve as a model for other plants in the Kingdom and beyond.-TradeArabia News Service