KPMG and Penny Software Announce Strategic Partnership to Drive Procurement Digitalization and Local Supplier Tracking

KPMG Middle East, a leading professional services provider, has announced a strategic partnership with Penny Software, a leader in the field of procurement technology based in Saudi Arabia. This partnership is set to transform procurement processes and streamline compliance with Saudi Arabia's local sourcing regulations.

Combining KPMG Middle East’s extensive advisory expertise with Penny’s innovative procurement platform, this collaboration offers a powerful tool for businesses to enhance operational efficiency and transparency. Penny’s platform, which has already helped companies manage over US$1 billion in purchasing and has supported more than 100,000 procurement activities globally, includes a unique tool called the Local Content Tracker. This tool gives organizations real-time insights into their purchasing activities, helping them track and increase the percentage of goods and services sourced locally. This feature aligns with the standards set by Saudi Arabia’s Local Content & Government Procurement Authority (LCGPA), enabling companies to meet national goals for supporting local industries and suppliers.

"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 Middle East. "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, adds, "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."

The partnership is designed to equip organizations with the necessary tools to fully digitize their procurement activities, fostering sustainable cost savings and enhanced operational resilience. As this collaboration progresses, it underscores both firms' commitment to innovation and excellence in procurement, aiming to deliver substantial value in an evolving regional market.

Kenan Nouwailati, Partner and Head of Procurement, Supply Chain and Local Content Advisory at KPMG Middle East

Iyad Aldalooj, CEO of Penny Software