The revenue forecast for the global Integration Platform as a service (IPaaS) is projected to reach $13.9 billion by 2026. Investments in cloud solutions have increased after the Covid-19 Pandemic and technologies such as IoT, Machine Learning, Artificial Intelligence and IPaaS have penetrated most of the industry sectors. With the rising popularity of hybrid and multi-cloud strategies in the region, IPaaS has the potential to grow to up to $206 million by 2028 in the MENA region.
As part of the annual awards ceremony, International Business Magazine opened nominations for two categories, Leading IPaaS Company in the Middle East, 2024, and Best Integration Platform as a Service (IPaaS), Saudi Arabia 2024. The winner for the two categories was announced unanimously on the receipt of the nominations from Reachware, an integration platform and a business intelligence reporting tool based out of Saudi Arabia.
International Business Magazine had an exclusive interaction with Hamza Abusitta, CEO and Co-Founder of Reachware. Following are the excerpts from it –
Kindly share more details about your new partnerships and recent strategic alliance and restructures at Reachware.
Reachware is an advanced automation tool and Integration Platform as a Service (IPaaS), designed to enable seamless communication between systems and help businesses unify their separate SaaS applications into one cohesive ecosystem. Our platform empowers organizations to operate more efficiently by simplifying complex integrations and ensuring all systems work together effortlessly.
At Reachware, we prioritize forming strategic partnerships with both local and global organizations to achieve our core mission: connecting all the essential components and business needs. We recently secured a $3 million seed fund led by Sadu Capital to further this mission and are thrilled to announce a significant deal with NEOM to automate its internal systems with central systems. This landmark project, valued at an investment volume of $10-15 million, is the largest of its kind in the Kingdom. By aligning ourselves with key technology providers, financial institutions, and regulatory bodies, we ensure that Reachware automates and streamlines operations for businesses of all sizes and complexities.
We integrate with over 250 systems globally, including major platforms like Oracle, SAP, Odoo, Revel, and locally with systems such as ZATCA, Salla, Foodica, Muqeem, Moyaser, and Zid. These integrations are key to our mission of deeply connecting businesses to easily meet regulatory requirements while enhancing their point-of-sale operations.
What trends and innovations could prove to be the major disruptors of your market?
One of the most disruptive trends in our market is the rise of hyper-automation and real-time data-drive and decision-making. As businesses increasingly demand faster, more efficient operations, the need for seamless system integration has become critical. Platforms like Reachware, with executed transactions of over $250 million, are at the forefront of this shift, enabling businesses to function as unified ecosystems. Another major disruptor is the growing demand for industry-specific solutions. Businesses no longer seek generic integrations—they want tailored platforms that address their unique challenges, whether in retail, finance, e-commerce, hospitality, or logistics.
Describe some of the opportunities and challenges you observe in the Saudi Arabia’s market.
The Saudi Arabia’s market presents significant opportunities, particularly in digital transformation and automation. The government’s Vision 2030 initiative emphasizes technological advancement and economic diversification, creating a favourable environment for businesses like Reachware. With a growing demand for seamless integration solutions, there’s a strong potential for expanding our partnerships and customer base.
However, there are also challenges. Developing a solid architecture while maintaining cost control can be complex, especially as businesses seek to modernize their systems. Additionally, migrating existing data to new platforms poses risks, including potential performance bottlenecks that could affect operations during the transition. Addressing these challenges is crucial for ensuring smooth implementation and optimal system performance.
What is your idea of a harmonious and positive company culture?
At Reachware, we believe in creating a harmonious and positive company culture that mirrors our innovative approach to system integration. Just as we seamlessly connect various aspects of business systems, we strive to integrate all facets of our employees’ professional lives.
We call our team members “Reachers” because they consistently reach for higher goals. Our culture is designed to support these ambitious Reachers by connecting all the pieces of their professional puzzle – from personal growth and well-being to career development and beyond.
At Reachware, we strive to build an environment where every Reacher thrives and leads by example, contributing positively to society and making a strong impact on a more integrated world. By understanding their needs, goals, and potential, we empower our team to aim higher and achieve their best. As Reachware grows, our Reachers grow with us—fostering a dynamic and fulfilling workplace where success and innovation go hand in hand.
How does Reachware approach Corporate Social Responsibility?
At Reachware, we approach Corporate Social Responsibility (CSR) with the same commitment to fairness and innovation that drives our technology solutions. One of our core values is maintaining equal distance with all our suppliers, ensuring fair trade opportunities by allowing them to easily communicate and collaborate.
This openness also gives customers the freedom to build their connected solutions, tailored to their unique needs.
Sustainability Through Innovation: Our solutions align with sustainable business practices by reducing manual errors and streamlining workloads. This helps businesses achieve efficiencies, such as:
• $135K reduction in the cost of resolving data errors over three years.
• Over 5,000 hours saved annually through process automation.
Local Engagement and Education: We actively participate in Saudi local events and expos, especially the hiring expos for fresh graduates. We’re not just recruiting; we’re helping to grow Saudi Arabia’s tech ecosystem by engaging with young talent.
Embracing Diversity with Saudi Roots: We proudly maintain our Saudi heritage while embracing diversity and inclusion. This balanced approach enables us to bring global perspectives to local challenges, fostering innovation and cultural richness across our team and solutions.
What is your current growth strategy for the MENA region?
Reachware’s MENA growth strategy is rooted in a phased expansion approach. We’re initially focusing on solidifying our leadership in Saudi Arabia, then expanding into the GCC, with the ultimate goal of becoming a major integration and localization provider across the entire Middle East region. While expanding, we maintain our core strengths in automation and integration solutions. We’re forming strategic partnerships to enhance our capabilities and reach, investing in local talent, and tailoring our solutions to address specific regional challenges. By aligning with digital transformation initiatives across MENA, we aim to position Reachware as a key driver of integrational advancement, leveraging our expertise to meet the evolving needs of businesses throughout the region, stage by stage.
integration solutions, led by Mr. Jehad AlBen Hamad, Mr.
Saeed Al Asmari, and Mr. Bander Al Thubaity.
