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.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Extravagant, conceptual, great food and views are some of the ways that
UAE-based Moroccan beauty brand izil’s constant transformation and evolution to meet the
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
The once powerful department stores that anchored malls and streets around the
Who isn’t a sucker for discounts? Customers today are spoiled for choice
The various e-commerce and virtual retail stores that cater to different product
A private helicopter carrying the chairman and managing director of Lulu Group,
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association