There are 4 Companies in Saudi Arabia
that provide Due Diligence Services!

 A modern sector for information and communication technologies is integral to today’s advanced industrial activities.

Saudi Vision 2030 aims to transform Saudi Arabia into a globally competitive ICT hub, with modern technologies and an empowered information society.

The ambition envisages many investment themes, including the development of digital content and media, the expansion of the telecommunication system, the digitization of the country, and the creation of new high-tech and smart industries.

The government is working alongside the private sector to modernize the ICT infrastructure, enhancing the regulatory framework to enable new innovative investments, and building the most suitable ecosystem to support entrepreneurs and digital talents.

Why you should work with Saudi Arabian IT companies

IT is used by the government sector to construct smart cities. It is also used in citizen engagement, which includes digital signs, iBeacons, mobile payments, mobile applications, and smart waste management; for public safety and emergency response, which includes connected officers, intelligent operation centers, and acoustic sensors; for social services like connected caseworkers, food bank inventory, and one-touch emergency response; for environmental monitoring like the study of weather/atmosphere; and to permit and license issuing activities. 

Taking into account that local Saudi IT companies can handle and have expertise in these fields, it is easy to deduct that they can bring something new and innovative on the global market. 

What to be aware of when working with Saudi Arabian IT companies

A low level of utilization across some components of the economy was reflected in the “Digital Middle East” report issued in October by global management consultancy McKinsey, which highlighted that just 15% of small and medium-sized enterprises in Saudi Arabia have an online presence.
 

According to McKinsey, Saudi Arabia’s digital economy contributes 3.8% to GDP, below the regional level of 4.1% and less than half the 8% seen in the US.  The report also noted that Saudi Arabia, along with other countries in the Middle East, had only captured a fraction of its digital potential.

How reliable are Saudi Arabia’s IT companies

IT companies located in Saudi Arabia are considered to be reliable, especially for regional players. The main contributor to the level of trust is the country’s reputation and the role it plays in the region. On the other hand, on a global level, there are not so many Saudi IT companies and web agencies that are popular, which is a good reason for deeper research in the search for an appropriate IT company for each project

How Does the Saudi IT industry relate to the neighboring countries?

Of the nine countries ranked in McKinsey’s Digitisation Index for the Middle East, Saudi Arabia was fourth – behind the UAE, Qatar, and Bahrain – with solid state-based demand offset by weak private sector uptake and only moderate ICT supply and innovation capacity.

Due diligence services are like thorough investigations that help businesses make informed decisions. They assess risks and opportunities when entering into partnerships, acquisitions, or other critical business transactions.

Many IT companies offer due diligence services, specializing in analyzing technology, data security, and compliance aspects of potential business ventures. Notable IT companies providing due diligence services include Deloitte, KPMG, and Ernst & Young (EY).

Due diligence service providers use a combination of tools and technologies to assess various aspects of a business. These may include data analytics platforms, cybersecurity tools, compliance management software, and financial modeling software. They also leverage document management systems and communication tools for efficient collaboration during due diligence processes.

Due diligence and audit services share similarities in their examination of the financial and operational aspects of a business. However, they differ in scope and purpose. Due diligence is typically conducted before entering into a business transaction to evaluate the potential risks and rewards. In contrast, audit services are often part of ongoing financial reporting and compliance requirements within a business.

Due diligence services are closely related to other advisory and consulting services, including:

• Financial Advisory: Providing financial insights and recommendations.

• Cybersecurity Assessment: Evaluating a company's cybersecurity posture.

• Mergers and Acquisitions (M&A) Consulting: Assisting in the strategic aspects of M&A transactions.

• Compliance Consulting: Ensuring adherence to industry regulations and standards.

Selecting the best IT company for due diligence services requires evaluating their expertise, industry knowledge, track record, and the comprehensiveness of their due diligence process. Seek providers who can tailor their services to your specific industry and transaction type.

Due diligence service providers are essential for various projects, including:

• Mergers and Acquisitions: Evaluating the financial health and potential risks of target companies.

• Investment Assessments: Analyzing potential investments in startups or new ventures.

• Partnership Agreements: Assessing the suitability and risks of partnering with another organization.

• Regulatory Compliance: Ensuring adherence to data protection and industry-specific regulations.

Conducting due diligence is essential for businesses of all sizes and industries. Some examples include private equity firms, which need to assess potential investments and portfolio companies; startups, which must evaluate the feasibility and risks of new business ventures; large corporations, which conduct due diligence on acquisitions and strategic partnerships; and financial institutions, who ensure compliance and risk management in lending and investments.

The cost of due diligence services can vary significantly based on the scope and complexity of the project. Factors such as the size of the target company, industry regulations, and the depth of analysis required influence the price. In the US, costs can range from a few thousand dollars to millions for complex M&A transactions. UK and Australian costs can be similar but may also vary depending on regional factors and the specific nature of the project. It's advisable to obtain quotes and assess the value provided by service providers before proceeding with due diligence.