< Previous20 CEO MIDDLE EAST DECEMBER 2023 aisal Alatig is the CEO of channels by stc, with over 21 years of experience in the Telecommunications, Information technology, Marketing, and Strategic Management. Alatig has held a number of leadership positions inside stc group and channels by stc. Before becoming the CEO of channels in March 2021, Alatig served as the Vice President of Strategy and Category Management, where he managed more than a SAR17bn ($4.5bn) revenue of telecom and non-telecom for consumers and businesses portfolios in channels KSA and its subsidiaries in the Gulf. He has also chaired over the Bahrain and Oman channels’ executive committees. Prior to that, he held the posi- tion of the Vice President of Strategic Management, where he led the devel- opment of a long-term strategy based on the technological and consumer trends, corporate performance, the competitive and regulatory environ- ment. During his tenure as CEO of channels by stc, the company has expanded, added new partners, and became the preferred distributor and sales arm for mega brands. Alatig has received his Master’s in Business Administration and Man- agement from King Saud University and his Bachelor’s degree in Systems Engineering from King Fahd Univer- sity of Petroleum & Minerals. In this interview, we will highlight the company’s journey, technology, expansion, and more. Could you tell us more about the success of the company and your prominent leadership? channels by stc has grown and will continue to grow in the future, as a result of the valued contributions made by our skilled human resources. Team members that work seamlessly to accomplish the goals of the com- pany’s strategies while providing them with the space to flourish. As our distinguished workforce elevates our business towards broader horizons. channels by stc is the sales and distri- bution arm of stc group and one of the leading companies in the field of sales and distribution in the telecommu- AS THE CEO OF CHANNELS BY STC, THE SALES AND DISTRIBUTION ARM OF STC GROUP, FAISAL ALATIG IS PLAYING A KEY ROLE IN THE KINGDOM’S VISION FOR THE FUTURE F PARTNERS IN PROGRESS FAISAL ALATIG WE HAVE MADE A COMMITMENT TO CONTINUE BEING THE PARTNER OF CHOICE IN THE INDUSTRY TECHNOLOGY22 CEO MIDDLE EAST DECEMBER 2023 Over the years, channels by stc has managed to build strategic partnerships with key players in the industry nications sector with a wide regional network operating in Saudi Arabia, Bahrain, Oman, and Kuwait. Known as the preferred partner of choice for major companies in the region by introducing a package of diversified services and solutions. As a professional and trustworthy business enabler, we managed to build strategic partnerships with key players in the industry both for consumer and enterprise products and services with stc Bahrain, stc Kuwait, Omantel, Salam Mobile and more operators and MNVOs, we go beyond telecom- munications, including but not limited to Apple, Samsung, Huawei, Lenovo, ASUS, Microsoft, Amazon, Foodics, and many more. In the past several years, we have made a commitment to continue being the partner of choice in the industry. To this end, we consistently work to reach our customers by improving operational efficiency and the quality of our services. We are proud to say that today channels by stc serves more than 15 million customers and oper- ates over 70,000 points of sale with more than 137 distribution hubs. What are channels by stc’s main market drivers and your expansion plans for the foreseeable future? We became aware of the need to react quickly and adapt to market needs and partners requirements as the digital transformation accelerated by increasing marketing research, keep- ing up with the rapidly changing tech- nological trends, and putting a greater emphasis on satisfying the needs of our primary growth drivers. Being a member of a family brand within the stc group enabled us to reach a wider range of partners with solid relationships. Moreover, we diver- sified our product lines that we offer to our consumers that include TVs, PCs, tablets, wearable technologies, speak- ers, and many more. We also provide our B2B customers with a variety of products that will help them grow their business such as Sunmi, Dahua, Aruba, and many more. In addition to the company’s last mile delivery services. channels by stc is renowned for being a forward-thinking organisation that is constantly seeking to explore and develop new business streams by persistently keeping up with the most recent technological advancements and overcoming present obstacles. We con- tinue capitalising on growth prospects locally and regionally to expand market share and establish a dominant posi- tion in important growth markets. We do this with a clear strategic roadmap and a diverse product portfolio that meets the requirements of our clients. We release new solutions, prod- ucts, and services in response to the market needs. Of course, there are other considerations we make when entering a new market in addition to studying the demand for our goods and services such as the economic channels by stc provide B2B customers with a variety of products that will help them grow their business FAISAL ALATIG DECEMBER 2023 CEO MIDDLE EAST 23 More than 128 Saudi cities are served by “dal” with more than 16,000 professional Saudi agents situation in the region or country we are looking to join. What are some of the challenges the company has faced, and how did you overcome those obstacles? In channels, we believe that with every challenge lies great growth opportuni- ties. The pandemic has provided a great opportunity to increase global commerce, and we frequently see in- novation emerge from these times of disruption. We were prepared at chan- nels as we had a detailed plan for busi- ness endurance and mitigating risks. Our digital and IT infrastructures were ready along with our operations and on-ground teams as they have worked readily and smoothly. Through our use of this chance, we reached our clients through our last mile delivery service (dal) by providing our products and services. In order to speed up the ordering and delivery procedures, we also used cutting-edge solutions which helped us get a greater market share and establish ourselves as important players in the industry. Can you tell us more about the last mile delivery service and how do you see this service expanding? channels by stc, was able to directly provide the last mile delivery service through “dal”, giving us and our partners a competitive advantage. Our aim was to revolutionise the last mile delivery, and give our deliv- ery agents a secure and developed application to ease managing the service. “dal” came from the Arabic word “dalilah,” which means someone who knows the way and leads others. This state-of-the-art technology not only offers partners a more seamless experience with flexible delivery but also contributes to the expansion of the retail, banking, and health sectors by providing detailed information at every stage and enabling partners to degree of flexibility to ensure that it was more than just a platform. Addi- tionally, we added high-level technol- ogies that enable delivery partners to communicate instantly via chats and receive informative notifications. By allocating delivery requests to agents based on location and destination, these capabilities provide a rapid and efficient delivery process. dal has earned recognition from major clients and organisations for providing a customer-centric platform and excelling in delivering exceptional performance in the last mile delivery solutions. Our commitment to reduc- ing lead times through a multi-model strategy and last-mile delivery has been crucial to our success in the industry. How does channels by stc contribute to Saudi Arabia’s Vision 2023 and the visitor’s seasonality? We continue to work toward Saudi Arabia’s aim of boosting other economic resources by increas- ing the contribution of the tourism industry each year. channels by stc has introduced a selection of special deals and offerings that are intended to benefit visitors who are coming for tourism, leisure, work, or pilgrims and as we have leveraged during the seasonal festivals, mega sports events, and Hajj and Umrah. In order to meet their demand for SIMs and devices, while also assigning highly skilled employees who can speak more than 11 languages. We are continuously preparing for this growth by enhancing the environ- ment for innovation, broadening our services, training our employees, and advancing the logistics value chain. At the same time, we keep an eye on the regional and global markets to en- able the institutional and operational capabilities to steer them and take advantage of the finest merger, part- nership, and expansion opportunities. “OUR COMMITMENT TO REDUCING LEAD TIMES... HAS BEEN CRUCIAL TO OUR SUCCESS IN THE INDUSTRY” TECHNOLOGY monitor and track in real-time. More than 128 Saudi cities are served by “dal” with more than 16,000 professional Saudi agents. The major- ity of deliveries occur on the same day, with over 10 million orders de- livered successfully and a 98 percent client satisfaction rate. We were able to consistently im- prove “dal” while keeping the highest 24 CEO MIDDLE EAST DECEMBER 2023 hen it comes to seeking in- spiration for running a busi- ness, you’d be hard-pushed to find a better source than the UAE. Ranked among the top ten com- petitive countries in the world by IMD’s Global Competitiveness Year- book 2023, the UAE is redefining itself as global leader in innovation, ease of doing business, financial investment and digital acceleration. The UAE is one of the fastest- growing economies in the world, thanks to its diversification strategies, advanced infrastructure, favourable I’ve been fortunate enough to learn fi rst-hand what it means to do business in such a vibrant, dynamic, and forward-thinking environment FIVE BUSINESS LESSONS I’VE LEARNED AS A DUBAI-BASED CEO LEADERSHIP BY LORENZO JOORIS, CEO OF CREATIVE ZONE WLEADERSHIP DECEMBER 2023 CEO MIDDLE EAST 25 “WITH ITS ‘CAN DO’ ATTITUDE AND ENTREPRENEURIAL SPIRIT, DUBAI IS THE IDEAL PLACE TO DRAW INSPIRATION FOR YOUR BUSINESS, NO MATTER WHERE IN THE WORLD YOU’RE BASED” business policies and forward-think- ing government initiatives. As a Dubai-based CEO, I’ve been fortunate enough to learn first-hand what it means to do business in such a vibrant, dynamic, and forward-think- ing environment. With its ‘can do’ attitude and entre- preneurial spirit, Dubai is the ideal place to draw inspiration for your business, no matter where in the world you’re based. Here are some valuable lessons I’ve learned as a Dubai-based CEO that can be applied to any business, in any location. greater. When it comes to attracting and retaining top professionals, com- petition in the Dubai tech market is as fierce as it gets. As such, businesses have had to pull out all the stops to attract the best talent. One of the most important lessons I’ve learned from the highly com- petitive Dubai job market is that it’s critical to present your company as an attractive employer. This can be boiled down to three broad rules-of-thumb: • Research to understand the local job market dynamics for your industry and region. • Offer a strong Employer Value Proposition (EVP) – not just via com- petitive salaries and attractive ben- efits packages but also in terms of a compelling company culture. Creative freedom, inspiring leaders, a positive work environment and opportunities for growth could seal the deal when it comes to attracting top talent. • Seek a diverse workforce – Dubai is a global city that thrives on diversity. With over 200+ nationalities and a strong female presence in core busi- ness and leadership roles, the UAE is committed to fostering Inclusion and Diversity. Promoting I&D as part of your recruitment strategy will give you access to a larger talent pool of creative individuals, who may have the skills you so desperately need. 2. Cultivate a compelling company culture Family and community are ingrained in Emirati values and traditions and, therefore, have a profound impact on UAE work culture. This sense of belonging extends to the workplace, where employers have a reputation for taking care of their employees. So much so, that the UAE has a dedicated ‘happiness agenda’. The National Happiness and Positivity Charter aims to promote the mental and physical wellbeing of employees through a num- ber of government initiatives. For companies in the UAE, this 1. Attract and retain the best talent In a bid to move away from its reli- ance on oil-based revenues, the UAE is investing heavily in the technology industry. The ‘We are the UAE 2031’ vision aims to double the country’s GDP and position itself globally among the top 10 countries in attract- ing global talent. One of the fastest growing indus- tries in the UAE, tech is the new oil. ICT spending is expected to reach $23 billion by 2024, with an annual growth of 8 percent since 2019. AI alone, is forecast to contrib- ute around $96 billion by 2030. That equates to almost 14 percent of the national GDP. But to achieve this ambitious target, it’s vital that companies in the UAE have access to the best talent – not an easy feat when there’s a global talent shortage. Recruiters estimate that around 80 percent of employers globally are struggling to find the tal- ent they need. In the ever-changing, fast-paced technology sector, the challenge is even LEADERSHIP 26 CEO MIDDLE EAST DECEMBER 2023 means cultivating a compelling com- pany culture that promotes respect, equality, inclusivity, and trust between work colleagues, teams, and leaders. But it’s not enough to write a passionate mission statement on your company’s website if you’re unwilling to make real promises. Company cul- ture is all about ‘showing, not telling’. A positive and compelling com- pany culture means prioritising the following, every day: • Customer service excellence • Cultural awareness • Inclusion & Diversity • Employee wellbeing and engagement • A good work/life balance • Sustainability and social responsibility 3. Engage with your team Around 88 percent of the popula- tion living and working in the UAE is expatriate. While multiculturalism offers a range of benefits, dealing with employees from different cultures and with different attitudes to work can be challenging. From a leadership perspective, working with a diverse workforce requires cultural awareness, patience and, above all, open communication. But employee engagement goes beyond a smile and a few words of encourage- ment. It’s an emotional investment that requires active participation and involvement in the workplace. More than ever in Dubai, I feel the need to engage with my team through- out the day. Whether it’s solving chal- lenges, building together, or providing valuable feedback, open communica- tion is essential for the day-to-day running of my business. Personal engagement with employ- ees on all levels can say far more about LEADERSHIP DECEMBER 2023 CEO MIDDLE EAST 27 your company culture and ethos than a long-worded mission statement. If your team feel valued and relevant, you may well be rewarded with greater productivity, efficiency, and loyalty. 4. Strengthen your public presence If you want your business to grow and thrive, then networking is a must. Making connections and building relationships is ingrained in the Dubai work culture. Networking can open doors to new business and investment opportuni- ties. It’s the best way to keep up to date with business trends and news. It can also connect you with potential employees, customers, or clients. Here in Dubai, we’re fortunate to have a wealth of year-round network- ing events to choose from. These include exhibitions, trade fairs, confer- ences, industry social events, and even virtual networking options. Many events are held at Dubai’s networking hub, the World Trade Centre. Drawing influential business leaders from across the globe, the WTC welcomes over 3 million people from 185 countries every year. Wherever your business is located, it makes sense to seek out networking options in your area. Social media is a fantastic medium for building an online presence. It’s also a great way to network virtually. But nothing beats being physically present at events and meeting people face-to-face. 5. Adapt to change, don’t fear it The UAE is a country that thrives on change. The ‘We are the UAE 2031’ vision highlights its commit- ment to diversification and non-oil reliance. By taking proactive steps towards sustainability and self-suf- ficiency, the vision aims to position the UAE globally as a leader in new economies, healthcare, tourism, and food security. Fuelled by goals to diversify its economy, the UAE is also leading the Middle East in the adoption of smart technologies, AI and robotics, most notably in the government sector. As such, it’s fast becoming a global standard for modernisation and digital progression. The way the world does business has changed dramatically over the last few years. In today’s digital age, busi- nesses across the globe, from micro- businesses to multi-national corpora- tions, must adapt - not just to survive, but to thrive. Even the smallest businesses now use software automation tools to streamline their processes. But many savvy SMEs are already one step ahead and are benefitting from the use of AI, for example for intensive data analysis and 24/7 customer service assistance. In today’s customer-centric envi- ronment, more than ever, businesses must adapt and evolve to remain com- petitive. But moving on from old and familiar processes isn’t always easy. The following are just a few exam- ples of how you could facilitate change in your company: • Embrace technology • Openly communicate with your team and stakeholders • Lead by example • Invest in proper training • See failures as a positive learning curve • Delegate and promote accountability To sum up, the UAE can be a great source of inspiration for aspiring en- trepreneurs. A young country built on ancient lands, the Emirati is a melting pot of cultures, traditions, modernity, and progressiveness. Just consider – it’s only in the last few decades that Dubai has transformed into the vibrant, global business hub it is today. Maybe the ultimate lesson the UAE can teach us is to dream big. And maybe, with enough drive and commit- ment, anything is possible.28 CEO MIDDLE EAST DECEMBER 2023 n the realm of business, the debate over the extent to which financial over- sight should be exercised is a tale as old as commerce itself. Should businesses track every cent, or does such meticulousness border on the obsessive, potentially stifling agility and growth? On one end, we cham- pion vigilance, while on the other, we advocate for strategic leniency. The path to financial clarity is not linear; it ebbs and flows with the tides of business dynamics. The Case for Rigorous Tracking The proponents of stringent expense tracking stand on a bedrock of cau- tion. The rationale is straightforward: unwatched finances could breed inef- ficiencies that erode the bottom line. In the startup ecosystem, particularly in the current financial environment, investors and stakeholders don’t just prefer but expect a detailed ledger. They seek to scrutinize every dime and understand the impact of each financial decision. Such meticulous- ness is not a matter of preference but a fundamental expectation. It’s a practice that ensures the company’s expenditure—the burn rate—is not just a figure on a balance sheet but a crucial indicator that is judiciously managed to maintain a trajectory towards profit. Financial prudence is not merely about frugality; it’s a strategic weapon. For instance, during eco- nomic downturns or market contrac- tions, businesses with a granular understanding of their cash flow can pivot and adapt more readily. They can make informed decisions on cost-cutting, investment delays, or strategic reallocations. Such strate- gic financial stewardship is far from hypothetical. Empirical evidence lends credence to the efficacy of this approach. Research conducted by Bain & Company, a beacon in the field of business consulting, cor- The case for and against meticulous expense tracking in business BALANCING THE SCALES LEADERSHIP BY ARMIN MORADI, CO-FOUNDER & CEO – QASHIO ILEADERSHIP DECEMBER 2023 CEO MIDDLE EAST 29 “EFFECTIVE FINANCIAL MANAGEMENT REQUIRES BOTH THE BIRD’S-EYE VIEW AND THE WORM’S- EYE VIEW” roborates the assertion that mastery in cost management correlates with superior business performance. Companies that excel in this disci- pline not only eclipse their competi- tors in operational effectiveness but are also poised to realize substan- tially enhanced financial results. This correlation is not incidental but indicative of a broader trend where precision in financial management translates to competitive advantage and heightened business success. The Flip Side: The Perils of Overzealous Oversight However, the counterargument holds its ground on the belief that excessive financial micromanage- ment can lead to analysis paralysis. Particularly in dynamic economic regions like the Middle East, where the market tempo requires swift and decisive action, an obsession with the granular details of finance can be a hindrance. Here, the pursuit of ag- gressive growth and rapid innovation demands a certain level of financial fluidity. The peril, as they articulate, is that an enterprise can become so entangled in the web of fiscal exami- nation that it loses sight of emerging opportunities. Indeed, the demarca- tion between careful fiscal steward- ship and counterproductive paranoia is razor-thin, and straying too far into the realm of over-caution risks not just opportunities but relevance. For example, a rigid adherence to expense tracking can lead to a cul- ture of penny-pinching that under- mines employee morale and stifles innovation. When staff members are too preoccupied with justify- ing every expense, they might forgo initiatives that could drive growth or enhance efficiency. A Harvard Business Review article suggests that companies fostering a culture of cost innovation rather than cost- cutting are more likely to witness sustainable growth. rigour to smaller, routine expendi- tures. As the UAE and KSA continue to solidify their position as global business hubs, companies here can adopt a hybrid model, leveraging technology like Qashio to automate and streamline expense tracking. This way, the focus can remain on strategic decision-making rather than on the transactional minutiae. Conclusion: The Path Forward In conclusion, the question of whether businesses should track every cent is not a matter of ‘yes’ or ‘no’ but ‘how’ and ‘when.’ Tracking expenses is undoubtedly crucial, but it should not impede the operational agility and innovative spirit that character- izes successful businesses, especially in a vibrant economic landscape like that of UAE and KSA. By embracing technology and fostering a culture that balances fiscal responsibility with entrepreneurial zeal, businesses can navigate the fine line between due diligence and excessive oversight, steering clear of the path to failure and toward sustained success. Drawing Comparisons: A Middle Ground So, where should businesses draw the line? The answer lies in balance. Ef- fective financial management requires both the bird’s-eye view and the worm’s-eye view. It’s about knowing when to zoom in on the details and when to step back and appreciate the broader financial landscape. For instance, while it’s crucial to scrutinize significant expenses and investment decisions closely, it may not be necessary to apply the same Next >