May 21, 2024

Tabadul boosts Digital Logistics, FinTech Solutions Infrastructure

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Tabadul, the Saudi Electronic Information Exchange Company, continues to make great strides in supporting the logistics sector and fintech services, offering scalable and innovative technology solutions through an integrated smart digital ecosystem that covers all stages of the supply chain and serves the government and business sectors.

Tabadul has become a key contributor to the achievement of the national goals related to improving and developing the business environment and increasing operational efficiency and reliability of services. Tabadul also contributes to the digital transformation objectives outlined by Saudi Vision 2030 by accelerating the digitalization needed for achieving business sustainability and taking proactive approaches during COVID 19.

Industry sources added that the Tabadul has established a secure system of back-end services to ensure business continuity in coordination with its partners from the governmental and business sectors. It has also supported the sector by designing, deploying, and operating e- payment systems and e-invoicing services and standardizing their procedures, in addition to forging partnerships and agreements with major entities and offering consultancy services to government entities and the private sector concerning electronic logistics transactions and fintech solutions.

Hesham Alnasser, Tabadul’s Chief of Sales & Marketing Officer

In this regard, Hesham Alnasser, Tabadul’s Chief of Sales & Marketing Officer stated, “Logistics automation has become a keystone for the logistics sector’s services. We focus on building the necessary infrastructure to enhance our capabilities to drive the digital logistics transformation in the Kingdom and the region. Inspired by the vision of our astute leadership and the National Industrial Development and Logistics Program (NIDLP), launched by HRH Crown Prince Mohammed bin Salman, we are committed to providing cutting-edge solutions and innovative services to support the logistics sector and contribute to enhancing the Kingdom’s position in the World Bank‘s Logistics Performance Index and Trading Across Borders indicator.”

Additionally, Tabadul added that it is overviewing to surge the operational efficiency of the Kingdom’s ports and improve and accelerate the management and clearance of shipments,  Tabadul adopted the Truck Management System (TMS) project, a key contributor to NIDLP.

Parallelly, Tabacdul aids the trade in the logistical arena with innovative financial services that complement its logistics solutions. It has recently launched “Wthaq”, the first-of-its-kind digital platform for automating bank guarantees in Saudi Arabia and the region. The digital platform enables users to verify bank guarantees and issue them electronically through Saudi banks. Users can also verify the validity and duration of the bank guarantees through the platform, thereby renewing, amending, or canceling them.

Tabadul added that this latest project lays down the perfect groundwork for regulating the ports’ capacity by utilizing bespoke technologies to book appointments, monitor and manage the movement of trucks, and link all relevant government agencies and stakeholders as needed. This has contributed to reducing congestion and entry-exit procedures for trucks in ports, in addition to tracking and managing the movement of the truck fleet and organizing the work of carriers.

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