Batic Investments and Logistics Co. signed, today, March 29, an agreement with New York-listed Accenture Co. (NYSE: ACN) an agreement to develop Batic’s growth strategy.
Batic started to compare global consultation firms in the fourth quarter of 2021.
The Saudi group expected robust growth, on the comprehensive reform of all operations inside business units. A team of experts at Accenture will build on the planned targets of Batic’s SAR 300 million rights issue in 2021.
Moreover, Accenture will help the group adapt to future market challenges and changes and achieve exceptional growth. Batic and Accenture will work on developing the group’s strategy through transforming into a leading investment company with innovative business models in the respective segments.
“The new strategy will help us increase profits by improving our existing operations, ensuring the sustainability of free cash flows, and bringing us closer to meeting the expectations and aspirations of our shareholders,” said Mohamed Al-Zamil, Managing Director, Batic.
The company’s Director of Strategy and Business Development Mohamed Al-Khattaf, said: “We have high expectations for the value that Accenture can add, and we are confident that this collaboration will benefit our shareholders.”
Francesco Pavoni, Strategy & Consulting Products Head at Accenture said: “We are proud to collaborate with and support Batic in developing its growth strategy, identifying expansion opportunities, and achieving sustainable long-term growth.”
“As a global consulting firm, we are confident that our unparalleled ability to deliver 360 degrees of greater value to our clients, partners and stakeholders will enable Batic to accelerate its business transformation in line with Vision 2030 objectives, while optimizing operations at record speed and high performance,” he added.
Expert advisors will analyze and set the group’s performance to identify opportunities to improve business performance and provide additional value to shareholders. The strategy aspires to transform each of Batic’s subsidiaries into market leaders across their respective sectors. The development of the group’s growth strategy will also be the first step in a promising long-term collaboration between Batic Investments and Logistics and Accenture.
Accenture also collaborates with clients around the world to develop their own growth strategies and deliver competitive advantages by combining the breadth of technology capabilities with expertise. This creates exceptional new value for companies and communities in the world while pushing the boundaries of collaboration on a large scale and across the entire organization.