Ramco Systems partners with MCA Management Consultants to transform payroll operations in GCC region
Ramco Systems Limited, a leading global provider of payroll software, has announced a strategic partnership between its wholly owned subsidiary, Ramco Systems FZ-LLC, and MCA Management Consultants, a premier professional services firm in the Gulf Cooperation Council (GCC) region.
This collaboration brings together Ramco's advanced payroll platform – Ramco Payce – and MCA's deep expertise in HR advisory and transformation services, with the goal of helping organizations across the GCC region digitize and modernize their payroll processes.
Ramco Payce, trusted by over 500 organizations worldwide, offers a robust global payroll solution that covers compliance in more than 150 countries. The platform is available both as a cloud-based solution and a managed service, and is designed to streamline payroll management with features like self-service reporting, an actionable payroll workspace, and serverless payroll capabilities.
With this new partnership, businesses in the GCC can benefit from faster payroll implementations, thanks to Ramco's quick deployment toolkit, while also gaining insights and strategic guidance from MCA's advisory team. The partnership emphasizes innovation through AI, machine learning, and robotic process automation, offering clients a touchless, end-to-end payroll experience.
This alliance strengthens Ramco's presence in the Middle East and highlights its commitment to helping companies in the region simplify payroll operations, ensure compliance, and improve accuracy.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 days ago
- Yahoo
Trends, Competition, Forecast & Opportunities, 2020-2030 - Digital Retail Surge and Youthful Consumer Base Accelerate Growth
The Saudi Arabia perfume and deodorants market is poised for growth driven by rising disposable income, a youthful demographic embracing global trends, and expanding retail and e-commerce platforms. Opportunities stem from cultural significance, premium brand interest, and a shift to sustainable packaging, despite supply chain challenges. Saudi Arabian Perfume & Deodorants Market Dublin, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Perfume & Deodorants Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Perfume & Deodorants Market was valued at USD 2.51 Billion in 2024, and is expected to reach USD 3.98 Billion by 2030, rising at a CAGR of 7.99%. Market growth is primarily driven by increasing disposable income, a growing middle-class population, and strong cultural emphasis on personal grooming and fragrance. Fragrance holds a significant place in Saudi traditions, encouraging consistent demand across both male and female demographics. The country's young population, particularly those under 30, is more inclined toward global beauty trends and premium brands, further accelerating adoption. The rapid expansion of organized retail and digital commerce platforms has enhanced product accessibility. Aggressive marketing campaigns, celebrity collaborations, and frequent product innovations are helping brands penetrate both metropolitan and semi-urban markets, further supporting market expansion. Key Market Drivers Expansion of Retail and E-Commerce Platforms The rapid growth of retail and e-commerce platforms is a crucial factor propelling the Saudi perfume and deodorant market. With a high internet penetration rate and a digitally savvy youth population, online retail is becoming a dominant channel for personal care purchases. As of 2021, over 28 million people in Saudi Arabia were active e-commerce users, reflecting a strong shift toward digital consumer behavior. This is further bolstered by increased female workforce participation and government support for digital infrastructure. Social media influence and celebrity endorsements are also shaping consumer preferences, making online platforms a popular destination for fragrance shopping. These developments are enhancing product reach, offering greater variety, and improving customer convenience - key drivers for market growth. Key Market Challenges Supply Chain Disruptions Supply chain inefficiencies represent a significant obstacle to the Saudi perfume and deodorant market. Delivery challenges, particularly in reaching remote or less urbanized areas, can impact product availability. Additionally, major cities such as Riyadh and Jeddah are facing warehousing shortages, with occupancy rates exceeding 95%, leading to higher logistics costs. Import regulations, customs delays, and tariffs further complicate the timely delivery of raw materials and finished goods. nvironmental shifts are also impacting the availability and pricing of natural ingredients used in fragrances. Together, these issues create cost pressures and stock shortages that hamper market efficiency. To maintain consistency in supply, brands must invest in local logistics capabilities and optimize sourcing strategies through partnerships and digital tracking systems. Key Market Trends Sustainability and Eco-Friendly Packaging Growing environmental awareness among Saudi consumers is accelerating the shift toward sustainable packaging in the perfume and deodorant segment. Brands are increasingly adopting eco-conscious materials such as biodegradable plastics, recyclable bottles, and refillable containers in an effort to reduce environmental impact. This trend is particularly resonant among younger consumers who prioritize ethical and sustainable purchases. Brands that align their packaging strategies with sustainability goals are gaining consumer trust and brand loyalty. Additionally, companies are integrating sustainability into their broader corporate responsibility frameworks, strengthening their market positioning and appeal. As regulatory support and consumer demand for green solutions increase, sustainable packaging is set to become a defining feature in future product development strategies. Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $2.51 Billion Forecasted Market Value (USD) by 2030 $3.98 Billion Compound Annual Growth Rate 7.9% Regions Covered Saudi Arabia Report Scope Key Market Players: Arabian Oud L'Oreal S.A. Unilever Gulf FZE The Estee Lauder Companies Avon The Saudi Perfume & Cosmetics Company (SPCCL) Helios Lifestyle Limited dsm-firmenich Ramsons Perfumes Private Limited Bella Vita Luxury Saudi Arabia Perfume & Deodorants Market, By Type: Perfumes Deodorants Saudi Arabia Perfume & Deodorants Market, By Packaging: Below 50 ml 50-100 ml 101-150 ml 151-200 ml Above 200 ml Saudi Arabia Perfume & Deodorants Market, By Category: Mass Premium Saudi Arabia Perfume & Deodorants Market, By Gender: Unisex Male Female Saudi Arabia Perfume & Deodorants Market, By Distribution Channel: Supermarkets & Hypermarkets Apparel & Beauty Stores Specialty Stores Pharmacies Online Others Saudi Arabia Perfume & Deodorants Market, By Region: Eastern Western Northern & Central Southern For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Perfume & Deodorants Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Yahoo
2 days ago
- Yahoo
Saudi Arabia $1 Billion Travel Insurance Market Trends, Competition, Forecast & Opportunities, 2020-2024 & 2025-2030 - Hajj and Umrah Drive Specialized Insurance Needs Amid Booming Inbound Tourism
Key opportunities in Saudi Arabia's travel insurance market include leveraging rapid tourism growth driven by Vision 2030, enhancing digital platforms for policy purchase, and catering to increased demand during events like Hajj and Umrah. Addressing low consumer awareness through education can further expand market potential. Saudi Arabian Travel Insurance Market Dublin, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Travel Insurance Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Travel Insurance Market was valued at USD 1.00 Billion in 2024, and is expected to reach USD 2.49 Billion by 2030, rising at a CAGR of 16.32%. The travel insurance market in Saudi Arabia is rapidly evolving, reflecting the nation's commitment to becoming a leading global tourism destination. This growth is largely fueled by the government's Vision 2030 initiative, which aims to diversify the economy by enhancing tourism infrastructure and attracting international visitors. The market is characterized by a variety of insurance products, including trip cancellation, medical coverage, baggage loss, and personal liability. Increasing awareness of travel-related risks, especially following the global pandemic, has led consumers to seek comprehensive insurance solutions that provide peace of mind. Digital transformation is also reshaping the landscape, with more travelers opting to purchase policies online through user-friendly platforms. This shift allows for easier comparison and selection of coverage tailored to individual needs. Additionally, significant demand arises from the influx of pilgrims during Hajj and Umrah, necessitating specialized travel insurance products. Overall, the Saudi Arabia travel insurance market presents substantial opportunities for growth, innovation, and improved customer experiences as the tourism sector continues to expand. The consolidation of regulatory oversight from two entities to one reflects the country's commitment to achieving the goals of Saudi Vision 2030 and the Financial Sector Development Program (FSPD). A key component of this initiative is fostering growth and advancing the insurance sector. The Authority has already reported a 14.6% growth in the sector during the third quarter of 2023, and this growth is expected to continue into 2024 as the Authority becomes fully operational and implements a new legal framework. Key Market Drivers Increasing Influx of Both Domestic and International Tourists Saudi Arabia's tourism sector is witnessing rapid growth in 2024, with inbound international visitors reaching around 30 million-a 9.5% increase from the previous year. This surge is driven by strategic efforts to promote non-religious tourism, significantly boosting the country's economy and global image. International tourist arrivals rose by 73%, while tourism revenues soared by 207%, positioning Saudi Arabia as a leading tourism market globally. On the outbound front, Saudi travelers spent approximately $103.8 billion abroad in 2024, marking an 18% rise from 2023. This growth reflects increased global mobility and interest in international travel among Saudi citizens. The outbound tourism market is projected to reach USD 25.49 billion by 2027, growing at over 15% annually. Overall, both inbound and outbound tourism underscore Saudi Arabia's expanding role as a global tourism hub and its economic diversification efforts. The increasing influx of both domestic and international tourists is a significant driver of the Saudi Arabia travel insurance market. With the government's Vision 2030 initiative, aimed at diversifying the economy and reducing dependence on oil, there has been a concerted effort to promote tourism. Major investments in infrastructure, such as airports, hotels, and attractions, have made the Kingdom more accessible to travelers. Events like the Hajj and Umrah pilgrimage attract millions of visitors annually, creating a high demand for travel insurance tailored to this unique demographic. Pilgrims often require specific coverage for medical emergencies and travel disruptions, which insurers are now beginning to provide. Additionally, cultural and entertainment events, like the Riyadh Season, are attracting more tourists, further boosting the need for comprehensive travel insurance. As more people travel to Saudi Arabia for both leisure and religious purposes, the demand for protection against unforeseen events, such as health issues or trip cancellations, will continue to grow, making tourism a key driver in this market. Key Market Challenges Low Consumer Awareness One of the major challenges facing the Saudi Arabia travel insurance market is low consumer awareness regarding the importance and benefits of travel insurance. Many travelers remain uninformed about the potential risks associated with travel, such as medical emergencies, trip cancellations, or lost baggage. This lack of awareness can lead to underinsurance or a complete absence of coverage, leaving travelers vulnerable to significant financial losses. Efforts to educate consumers about travel insurance are still in their infancy, and misconceptions often persist. Some travelers may view insurance as an unnecessary expense rather than a vital safety net. Additionally, cultural attitudes toward insurance in general can hinder the perceived value of travel insurance. This gap in understanding creates a challenge for insurers who need to market their products effectively. To address this issue, companies must invest in educational campaigns that highlight the risks of travel and the benefits of coverage, targeting both local and international travelers. Increased awareness is crucial for expanding the market, as informed consumers are more likely to seek out and purchase travel insurance. Key Market Trends Digital Transformation Digital transformation is revolutionizing the Saudi Arabia travel insurance market, driving increased accessibility and customer convenience. In 2024, over 70% of travel insurance policies were purchased online through mobile apps and digital platforms, reflecting a significant shift from traditional offline channels. Insurers are increasingly investing in user-friendly digital platforms that allow travelers to compare policies, obtain quotes, and purchase coverage with ease. Mobile applications and websites are being enhanced to facilitate instant access to information, making it more convenient for travelers to secure the protection they need. Additionally, the integration of artificial intelligence and data analytics is enabling insurers to offer personalized products based on individual travel habits and preferences. This technological advancement not only improves customer engagement but also streamlines the claims process, making it faster and more efficient. Insurers can leverage data to assess risks more accurately, leading to better pricing strategies. As digital channels become more popular, traditional distribution methods are being supplemented or replaced, pushing the industry toward a more tech-driven future. Report Scope Key Market Players Tawuniya Insurance Company Al-Rajhi Company for Cooperative Insurance Walaa Cooperative Insurance Company Allianz Saudi Fransi Cooperative Insurance Company Gulf Insurance Group (GIG) Arabian Shield Cooperative Insurance Company Gulf General Cooperative Insurance Company LIVA Insurance Company SALAMA Cooperative Insurance Company AL-Etihad Cooperative Insurance Company Saudi Arabia Travel Insurance Market, By Trip Type: Domestic Outbound Hajj and Umrah Inbound Saudi Arabia Travel Insurance Market, By Mode Of Purchase: Airline Banks Online Travel Agencies Offline Travel Agencies Others Saudi Arabia Travel Insurance Market, By Traveler Type: Senior Citizens Education Travelers Business Travelers Family Travelers Independent Travelers Saudi Arabia Travel Insurance Market, By Mode of Payment: Card Payments E-Wallets Bank Transfers Other Online Payment Saudi Arabia Travel Insurance Market, By Region: Northern & Central Western Southern Southern Key Attributes: Report Attribute Details No. of Pages 88 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $1 Billion Forecasted Market Value (USD) by 2030 $2.49 Billion Compound Annual Growth Rate 16.3% Regions Covered Saudi Arabia For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Travel Insurance Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Yahoo
2 days ago
- Yahoo
Saudi Arabia Office Furniture Market Trends, Competition, Forecast & Opportunities, 2020-2024 & 2025-2030
The Saudi Arabia Office Furniture Market offers growth opportunities driven by urbanization, expanding business sectors, and Vision 2030. The demand for modern, ergonomic, and smart furniture is rising with new offices and co-working spaces. E-commerce growth boosts online sales, while sustainability trends influence designs. Saudi Arabian Office Furniture Market Dublin, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Office Furniture Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" report has been added to Saudi Arabia Office Furniture Market was valued at USD 798.34 Million in 2024, and is expected to reach USD 987.94 Million by 2030, rising at a CAGR of 3.62%. The Saudi Arabia Office Furniture market is experiencing significant growth, driven by rapid urbanization, expanding business sectors, and increasing government initiatives to diversify the economy under Vision 2030. The rise in commercial construction projects, establishment of new offices, and expansion of co-working spaces are fueling demand for modern and functional office furniture. Also, there is a growing emphasis on employee well-being and productivity, leading to higher demand for ergonomic and adjustable furniture solutions. Technological advancements have also contributed to the development of smart office furniture, integrating features like wireless charging and IoT connectivity. Also, increasing awareness about sustainability is encouraging the adoption of eco-friendly materials and designs. Together, these factors are reshaping the Saudi office furniture market, making it more innovative and employee Market Drivers Rising IT Sector Across the RegionThe rapid expansion of Saudi Arabia's IT sector is a significant driver of growth in the nation's office furniture market. As a part of this, according to a recent study, as of 2024, Saudi Arabia's IT sector is projected to be worth US$50.60 billion in 2024 and US$76.05 billion in 2029. As part of Vision 2030, Saudi Arabia is diversifying its economy by investing heavily in digital infrastructure and technology hubs like Riyadh Techno Valley and Digital City. These initiatives have attracted numerous tech companies, leading to a surge in demand for modern office there's an increased need for contemporary office furniture that supports collaborative work environments and integrates technological features. The emphasis on employee well-being and productivity has further propelled the demand for ergonomic and smart furniture solutions. Also, the rise of remote and hybrid work models has influenced office layouts, prompting businesses to adopt flexible and modular furniture designs. This evolving landscape underscores the integral role of the IT sector in shaping the future of office furniture demand in Saudi Market Challenges Fluctuating Prices of Raw MaterialFluctuating raw material prices pose a significant challenge to the Saudi Arabia office furniture market, impacting both production costs and supply chain stability. The country's limited domestic production of essential materials like wood and metal necessitates reliance on imports, making the industry vulnerable to global price volatility. Geopolitical tensions, such as the Russia-Ukraine conflict, have disrupted supply chains, leading to increased costs for timber and other the Saudi government's efforts to reduce import dependency, including increased tariffs on imported furniture effective from June 2020, have further strained the market. These factors contribute to higher production costs, which can lead to increased prices for consumers and reduced profit margins for manufacturers. To mitigate these challenges, companies are exploring alternative materials, investing in local production capabilities, and adopting more efficient manufacturing processes. However, until these measures are fully implemented, fluctuating raw material prices will continue to be a significant hurdle for the growth and stability of the Saudi office furniture Market Trends Rise of E-Commerce and Online SalesThe rise of e-commerce and online sales is significantly transforming the office furniture market in Saudi Arabia, aligning with the nation's digital transformation goals under Vision 2030. As a part of this, according to a recent study, as of 2025, the eCommerce market is expected to generate US$16.53 billion in revenue. This growth is driven by factors such as the expansion of remote work, the proliferation of digital platforms, and the increasing demand for ergonomic and modular office solutions. Consumers are increasingly favoring online platforms for their convenience, diverse product offerings, and competitive pricing. Major online retailers like have emerged as leading players in this space, reflecting the shift in consumer purchasing behaviour. This digital shift is further supported by the government's initiatives to enhance digital infrastructure and promote e-commerce activities, making online sales a pivotal component of the office furniture market's future growth in Saudi Arabia. Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $798.34 Million Forecasted Market Value (USD) by 2030 $987.94 Million Compound Annual Growth Rate 3.6% Regions Covered Saudi Arabia Report Scope: Key Market Players HNI Corporation Jeraisy Furniture Factory Al Sharq Al Masiya Trading Company Haworth, Inc. Onmuse Office Furniture Co., Ltd Zhejiang Sunon Furniture Manufacture Co., Ltd Kimball International, Inc. Office Space -Masahat Almaktab Excel Furniture Lotus Systems Saudi Arabia Office Furniture Market, By Type: Chairs Desks Filing Cabinets & Lockers Others Saudi Arabia Office Furniture Market, By Raw Material: Wooden Metallic Plastic Others Saudi Arabia Office Furniture Market, By Price Range: Mass Premium/Luxury Saudi Arabia Office Furniture Market, By Sales Channel: Contract/Direct Sales Furniture Retail Outlets Online Others Saudi Arabia Office Furniture Market, By Region: Eastern Western Northern & Central Southern For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Office Furniture Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
