Nahdi digitally transforms financial management


July 2, 2020 | By RetailME Bureau

Saudi Arabia-based pharmacy retail chain, Nahdi Medical Company has digitally transformed its financial management, payment systems and financial planning with Infor Treasury Management.

This solution allows vast improvements to Nahdi Medical’s financial management and planning capabilities, placing the company in a strong position to expand its operations in line with Saudi Arabia’s Vision 2030 ambition to increase the private sector participation in the provision of healthcare services.

Nahdi Medical operates one of the region’s largest pharmacy retail chains, with a network of pharmacies in all cities and villages across the Kingdom, a clinic in Jeddah and an expanding presence in the UAE. However, the size and scale of the company presented challenges for its finance department, which had relied on manual systems for tasks including payments, financial control and financial planning.

“By deploying Infor Treasury, we have completely transformed the way our finance department operates. We can now achieve far more with the same resources, while also gaining a wealth of data and analysis to help us plan effectively as we expand our operation with medical clinics in Saudi Arabia and new pharmacies in our home market and across the GCC,” said Mohamed Seddeak, head of treasury and corporate finance, Nahdi Medical.

Nahdi Medical deployed three modules from Infor Treasury Management – including Bank Account Management, Treasury Cash Management and Treasury Payments. Combined, these modules have enabled Nahdi Medical to fully automate and simplify all finance-related aspects of its business, from bank reconciliation to cash payments and working capital strategies, while enabling the company to collect and analyse important financial data.

 

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