KPMG deepens procurement technology offering with Penny Software
KPMG has announced a Middle East-focused strategic partnership with Penny Software, a procurement technology company based in Saudi Arabia.
The partnership will see KPMG add Penny Software’s platforms and solutions to its procurement consulting offering, deepening its capabilities in local sourcing regulations. Based out of Riyadh, Penny Software is a cloud-based source-to-pay system that helps organizations digitise and manage their full procurement cycle from request to approval.
Since its inception, Penny Software’s platform has helped companies manage over $1 billion in purchasing spend and supported more than 100,000 procurement activities globally. A key part of its proposition is its Local Content Tracker, which helps KSA-based organizations track goods and services sourced locally. This feature enables organizations to meet national goals for supporting local industries and suppliers, known as Local Content requirements.
“Through our partnership with Penny Software, we are integrating cutting-edge technology with strategic insights to revolutionize procurement and compliance processes,” said Kenan Nouwailati, Partner and Head of Procurement, Supply Chain and Local Content Advisory at KPMG. “This initiative will empower our clients with the tools necessary for enhanced governance and efficiency across their procurement lifecycle.”
Iyad Aldalooj, CEO of Penny Software, added: “Joining forces with KPMG allows us to broaden the impact and reach of our technologies. Together, we are delivering a comprehensive procurement solution that not only simplifies but also optimizes the procurement operations for our clients across the region.”
