Sure Global Technology Company Profile

Background

Overview

Established in 2004, Sure Global Technology is a Saudi Arabian company specializing in providing technological and consultative solutions to both public and private organizations within the Kingdom. The company offers a comprehensive suite of services, including software development, infrastructure management, support and operations, digital transformation consulting, and products tailored for small and medium-sized enterprises (SMEs). In recent years, Sure has expanded its focus to include financial technology (FinTech) through its subsidiary, SurePay, and has been actively investing in promising startups.

Mission and Vision

Sure Global Technology is committed to delivering innovative and high-quality technological solutions that empower organizations to achieve digital transformation and operational excellence. The company's vision is to be a leading provider of integrated IT services in the region, fostering growth and efficiency for its clients through advanced technology and expert consulting.

Industry Significance

Operating in the rapidly evolving IT services and consulting industry, Sure Global Technology plays a pivotal role in supporting Saudi Arabia's Vision 2030 by enabling digital transformation across various sectors. The company's diverse service offerings and strategic investments position it as a significant contributor to the Kingdom's technological advancement and economic diversification.

Key Strategic Focus

Core Objectives

Digital Transformation: Assist organizations in adopting and implementing digital solutions to enhance operational efficiency and competitiveness.

FinTech Expansion: Develop and offer innovative financial technology products and services through SurePay to meet the evolving needs of businesses and individuals.

Startup Investment: Identify and invest in promising startups to foster innovation and expand the company's service portfolio.

Areas of Specialization

Software Development: Design and develop custom software solutions tailored to client requirements.

Infrastructure Services: Provide comprehensive infrastructure management, including cloud computing and network solutions.

Information Security: Implement robust security measures to protect organizational data and systems.

Digital Transformation Consulting: Offer strategic guidance to organizations navigating digital transformation initiatives.

Key Technologies Utilized

Cloud Computing: Deploy scalable and flexible cloud solutions to meet diverse business needs.

Artificial Intelligence (AI): Integrate AI technologies to enhance decision-making processes and operational efficiency.

Cybersecurity: Utilize advanced security protocols to safeguard digital assets and information.

Big Data Analytics: Leverage data analytics tools to extract actionable insights from large datasets.

Primary Markets Targeted

Public Sector: Collaborate with government entities to implement e-services and digital solutions.

Private Sector: Serve businesses across various industries seeking digital transformation and IT consulting services.

SMEs: Provide tailored products and services to support the growth and development of small and medium-sized enterprises.

Financials and Funding

Funding History

Sure Global Technology has demonstrated consistent growth and financial stability since its inception. The company went public on the Saudi Parallel Market (Nomu) on October 24, 2022, with an authorized capital of SAR 76,946,250 and a paid-up capital of SAR 76,946,250.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed. However, the company's strategic investments in FinTech and startups indicate a proactive approach to capital allocation aimed at fostering innovation and expanding service offerings.

Notable Investors

While individual investor information is not publicly available, the company's listing on the Saudi Parallel Market suggests a diverse shareholder base, including institutional and individual investors.

Utilization of Capital

The capital raised through public offerings and investments is primarily utilized for:

Research and Development: Enhancing existing services and developing new technological solutions.

Infrastructure Expansion: Upgrading and expanding IT infrastructure to support growing client needs.

Strategic Investments: Funding acquisitions and investments in startups to diversify service offerings and enter new markets.

Pipeline Development

Key Pipeline Candidates

SurePay: A subsidiary focused on providing innovative financial technology solutions, including electronic payment services and products fully integrated with Point of Sale (PoS) systems.

Stages of Development

SurePay: In the development and deployment phase, offering integrated e-payment services to businesses and individuals.

Target Conditions

SurePay: Aims to address the growing demand for seamless and secure electronic payment solutions in the region.

Anticipated Milestones

SurePay: Plans to expand its service offerings and integrate additional features to enhance user experience and market reach.

Technological Platform and Innovation

Proprietary Technologies

SurePay Platform: A proprietary platform developed to offer comprehensive e-payment solutions, including integration with PoS systems and centralized management for performance reporting.

Significant Scientific Methods

Data Analytics: Employ advanced data analytics techniques to derive actionable insights and inform strategic decisions.

AI Integration: Incorporate artificial intelligence to enhance service offerings and operational efficiency.

Leadership Team

Executive Profiles

Mohammed Saud Mohammed Alessa: Chief Executive Officer (CEO) since April 28, 2021.

Essam Othman Yousuf Al Muqayad: Director of Finance (CFO) since August 14, 2009.

Basem Al-Sallom: Chief Executive Officer (CEO) from December 31, 2017, until April 28, 2021.

Bandar Nasser Kahlif Al Shammari: Human Resources Officer (HRO) since June 18, 2022.

Leadership Changes

Mohammed Saud Mohammed Alessa: Appointed CEO on April 28, 2021, succeeding Basem Al-Sallom.

Competitor Profile

Market Insights and Dynamics

The IT services and consulting market in Saudi Arabia is experiencing rapid growth, driven by the government's Vision 2030 initiative, which emphasizes digital transformation across various sectors. This dynamic environment presents opportunities for companies like Sure Global Technology to expand their service offerings and market presence.

Competitor Analysis

Solutions by STC: A subsidiary of the Saudi Telecom Company, offering a wide range of IT services, including cloud computing, cybersecurity, and system integration.

Zain KSA: A leading telecommunications company providing integrated ICT solutions and services across the Kingdom.

Mobily: Offers a comprehensive suite of ICT services, including cloud solutions, data centers, and managed services.

Strategic Collaborations and Partnerships

Sure Global Technology has established partnerships with over 150 technological companies, enhancing its service capabilities and market reach.

Operational Insights

The company's extensive experience in executing over 120 IT projects across both governmental and private sectors demonstrates its strong market position and ability to deliver tailored solutions that meet diverse client needs.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion of Service Offerings: Continue to diversify and enhance service offerings, particularly in FinTech and digital transformation consulting.

Geographical Expansion: Explore opportunities to extend services beyond Saudi Arabia to other regions in the Middle East and North Africa.

Innovation and R&D: Invest in research and development to stay at the forefront of technological advancements and meet evolving market demands.

Future Business Directions

Digital Transformation Leadership: Position the company as a leader in digital transformation services, capitalizing on the growing demand for such solutions.