Lebanon risks missing IMF preconditions for EFF owing to weak governance: S&P – Arab News

RIYADH: The Saudi-based Red Sea Development Company said on Monday that it had implemented the first wave of Enablon modules an integrated data enterprise software system to automate manual tools and processes as part of its ambitions as a global leader in responsible development.

The move aims to integrate, automate and streamline governance, risk compliance, health and safety, environment and sustainability, business continuity and internal audit practices across the organization.

The project was launched in January last year and the design and consultation process lasted 15 months, the company said. Wolters Kluwers Enablon was selected based on its industry-leading position as a provider of integrated software solutions, it said.

We began this journey at the height of the global pandemic, with the aim of integrating several of our risk and control functions. The main objective was to enhance monitoring, reporting and alignment across the multiple functions involved in the delivery of standard setting health and safety practices, said John Pagano, CEO of TRSDC.

The rollout has arrived at an opportune time, with manpower at site exceeding 16,000 TRSDC employees and contractors, he said. This was a large-scale implementation project which engaged multiple internal and external stakeholders.

TRSDC established a committee, with management consultants Ernst & Young, Wolters Kluwer as the software provider and Wipro as the implementation consultant, which oversaw the progress and implementation of the solution.

Laurent Dechaux, vice president and managing director, Wolters Kluwer Enablon, said: Our Enablon Vision Platform offers TRSDC a full 360-degree view of risk, addressing the environmental, health and safety challenges of the project.

Ernst & Young said that during the 15-month implementation, their priority was to ensure TRSDC requirements were met with a focus on future adoption and value: TRSDC was indeed a pioneer in conceptualizing the alignment between its risk and controls functions, (and) utilizing the strength of Enablon.

Given the remote location of many of the sites under development at The Red Sea Project, Enablons solution can also be used in an offline mode, allowing incident data or inspection and audit reports to be prepared and then uploaded once a device is connected to the network.

Additional features are being assessed in efforts to continue to automate and enhance operations through the Enablon integrated platform. The system will also be rolled out for AMAALA and the growing number of projects in the TRSDC portfolio, the Public Investment Fund-owned company said.

Work is on track to welcome the first guests to The Red Sea Project by the beginning of next year, when the first hotels will open. Phase one, which includes 16 hotels in total, will be completed by the end of 2023.

On completion in 2030, The Red Sea Project will comprise 50 resorts, with up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include an international airport, luxury marinas, golf courses, entertainment and leisure facilities.

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Lebanon risks missing IMF preconditions for EFF owing to weak governance: S&P - Arab News