United Arab Emirates (UAE) based terminal operator DP World has signed an agreement with technology group Oracle to develop an updated and integrated technology platform for its global business operations.

Oracle’s software as a service (SaaS) platform, cloud applications, will be used to standardise DP World’s key core processes, including finance, operations, procurement and human resources.

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The platform will also feature various technologies related to artificial intelligence, machine learning, Internet of Things (IoT) and blockchain in order to ensure more efficient operations, as well as create intelligent logistics services to help customers.

“Our decision to partner with Oracle is driven by our vision for global connectivity through intelligent logistics, reducing costs and creating value for all our stakeholders.”

DP World Group chairman and CEO Ahmed Bin Sulayem said: “Our decision to partner with Oracle is driven by our vision for global connectivity through intelligent logistics, reducing costs and creating value for all our stakeholders.

“Innovative tech solutions are the way forward in the 21st century, and we’re equipping ourselves with an effective platform to grow into new sectors where technology can maximise efficiencies and enable us to deliver transformational products and services.

“This is all part of our innovative culture that complements the smart initiative of Dubai and the example set by our leaders to expand our horizons in the digital world.”

In addition, the latest digital transformation initiative supports DP World’s strategy to develop complementary sectors in the global supply chain, including industrial parks, free zones and logistics to add value for all stakeholders.

The initiative is also expected to create new services and support diversification using cloud-based applications.