Intelligent Tech Channels Issue 65 | Page 58

MARKET MOVEMENT
TMF Group enters Saudi Arabia by acquiring PROVEN ’ s corporate services business

TMF Group , a provider of compliance and administrative services , announced acquisition of the Business Process Outsourcing , corporate services , corporate immigration , and visa services divisions of PROVEN , a business outsourcing organisation in the Middle East .

Since its establishment in 2009 , PROVEN has been at the forefront of enabling businesses to operate seamlessly in Saudi Arabia and other Middle Eastern regions , including the United Arab Emirates , Bahrain , Egypt , and Kuwait . It has since expanded to cater to international markets while maintaining its reputation as a trusted partner for organisations looking to streamline their operations .
The acquisition represents a significant step in TMF Group ’ s expansion as the Saudi Arabia economy is the largest in the Middle East and the eighteenth largest in the world .
With a decade of experience , PROVEN ’ s team brings a wealth of expertise , advanced technology , and a modern service delivery model to help their partners achieve maximum value creation .
This strategic acquisition enables PROVEN to support inbound business from TMF
( Left to right ) Zaid Al Mashari , CEO PROVEN Arabia with Stewart Adams , Regional Managing Director Middle East , and Africa , TMF Group signing the acquisition agreement
Group ’ s 125 offices globally while expanding its corporate services value chain . TMF Group will benefit from integrating PROVEN ’ s regional corporate services businesses into its existing global infrastructure .
As a result , TMF Group will open a new , permanent office in Riyadh , and build on the existing Saudi Arabia clients currently served by TMF Group ’ s Dubai office . TMF Group is a provider of critical administrative services , helping clients invest and operate safely around the world .
Launched in 2009 with the vision of helping businesses operate fluidly in Saudi Arabia , PROVEN has evolved to become an outsourcing organisation in the Middle East . PROVEN provides services across different regions , including Saudi Arabia , United Arab Emirates , Bahrain , Egypt , Kuwait , moving towards international markets .
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ServiceNow to acquire artificial intelligence powered platform G2K to transform retail and beyond
Karel van der Poel , Senior Vice President and General Manager at ServiceNow

ServiceNow announced it has signed an agreement to acquire artificial intelligence , AI powered platform G2K to transform retail and other industries . G2K ’ s technology allows organisations to connect real-time data across storefronts and other physical spaces for a complete view of operational data .

ServiceNow plans to add G2K ’ s smart IoT technology to the Now Platform , enabling businesses to intelligently action digital and instore data with enterprise-grade workflows .
Many organisations still struggle to turn vast amounts of data into actions that have business impact . This is especially true for retailers that have the unique challenge of managing operations based on a wide variety of digital and in-store data streams across thousands of stores , employees , and customers , and must be able to connect data back to central operations .
Through this acquisition and working in partnership with top retail customers , ServiceNow plans to develop an AI-powered end-to-end workflow solution with G2K ’ s technology for the retail industry , with the flexibility to apply to other industries like transportation , healthcare , entertainment , and manufacturing in the future .
G2K ’ s technology gives retailers the ability to connect real-time data across storefronts and other physical spaces and uses AI to translate that data into insights that allow organisations to act . G2K can help businesses plan inventory based on demand , improve on-site customer experiences , address in-store maintenance or other mechanical issues , and increase employee productivity .
By integrating these end-to-end physical capabilities within the Now Platform , ServiceNow becomes one of the only leading companies providing enterprise-grade retail workflows , enabling businesses to seamlessly bridge the physical world into a digital workflow platform .
Founded by Karsten Neugebauer and Omar El Gohary in 2013 , G2K employs 200 + employees across Berlin , Cairo , Dubai , Mexico , and is headquartered in Munich , Germany .
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