Odoo and Aramco have partnered to offer low-cost business software to companies sponsored by Taleed To increase SMEs' contribution

Aramco inked a memorandum of agreement with open-source end-to-end business software supplier Odoo, paving the way for Odoo to provide its software at a reduced cost to the small and medium businesses in Saudi Arabia that are part of the Taleed programme. According to the press release, the deal would allow the integrated software company to deliver the essential digital services and support to help SMEs in the Kingdom accelerate their digital transformation. In October, Aramco introduced the Taleed programme to help small and medium-sized businesses (SMEs) in Saudi Arabia expand their operations and increase their contribution to the country's economic development and the creation of new jobs. Odoo intends for its solutions to improve the overall performance of small and medium-sized enterprises (SMEs) by helping them streamline their data collection process, generate precise reporting, and come up with accurate and targeted decisions in areas such as revenue growth, cost reduction, innovation, and more.

“Digital transformation is more important than ever and Odoo with its fully integrated and intuitive software is a perfect choice for every business that wants to benefit from it in the most effortless way possible,” stated Pavitra Singh, managing director of Odoo Middle East DMCC.

The strategic alliance between the two organisations is an important step toward achieving the long-term aims of the Saudi Vision 2030. According to an exclusive interview with Arab News, Aramco's senior vice president of technical services, Ahmad Al Sa'adi, stated that the company is eager to contribute to the SME sector's aim of contributing 35% of the national GDP by 2030, as outlined in the Vision 2030 goals. Al Sa'adi explained that this is because the SME sector is widely recognised as a fundamental component of the global economy.

In addition, the Saudi Press agency claims that SMEs will play a crucial role in realising Saudi Arabia's goals of reducing the jobless rate from 11.6% to 7% and boosting women's workforce participation from 22.5% to 30.5%. A press release stated that the Taleed programme aims to promote "sustainable SME growth across multiple sectors through a portfolio of 20 initiatives," with the intention of providing "funding and financial solutions to existing and new businesses through five funds with a combined capital exceeding SR3 billion ($800 million"). Al Sa'adi claims that the number of small and medium-sized enterprises (SMEs) served by the Taleed initiative will soon increase to 15,000. Al Sa'adi disclosed that participating SMEs will have access to a wide range of benefits, including specialised programmes, funding, training, advisory services, and more.