UOB’s SME customers in Thailand will have access to a suite of business applications including SAP Business One
United Overseas Bank (Thai) (UOB (Thai)) is helping small- and medium-sized enterprises (SMEs) save time and money with the launch of Thailand’s first cloud-based integrated digital business solution, UOB BizSmart
UOB BizSmart consists of a suite of cloud-based integrated business applications that help to improve the performance of Thai SMEs when managing administrative tasks such as payroll, accounting, inventory and resourcing.
A direct data feed to the SME’s operating accounts with UOB enables the reconciliation of their transactions, such as supplier payments and daily sales, in one click.
SMEs can select from three UOB BizSmart bundled options, depending on the functionalities and the number of users they require. The most basic option is complimentary.
According to the 2018 ASEAN SME Transformation Study by United Overseas Bank (UOB), EY and Dun & Bradstreet, 73 per cent of Thai SMEs are looking to increase their productivity by harnessing digital technology.
This was also their most preferred cost management method over sourcing for cheaper suppliers or reducing overheads.
Ms Sayumrat Maranate, Executive Director and Head of Business Banking, UOB (Thai), said, “UOB has been supporting SMEs for more than 80 years and we know that ensuring efficient operations is their priority.
We recognise that SMEs can benefit from the use of digital technology to drive business performance.
As such we launched UOB BizSmart to provide Thai SMEs with a simple and cost-effective way to manage their business processes which in turn helps them to free up more resources to focus on other parts of their business.”
With UOB BizSmart, Thai SMEs can benefit from cost savings of up to 60 per cent as compared with using multiple software programmes purchased individually.
They can access to UOB BizSmart anywhere and anytime on mobile and desktop.
As part of UOB BizSmart, Thai SMEs can automate their HR processes such as payroll, staff and leave management through HReasily, a cloud-based HR solution developed by an Asia-based financial technology company of the same name.
SMEs will also have access to SAP Business One, an integrated enterprise resource planning, as part of a tie up between UOB and SAP.
This is the first time SAP is offering SAP Business One to Thai SMEs through an Asian bank.
Mr Claus Andresen, President and Managing Director, SAP Southeast Asia, said, “Across the region, ASEAN governments have acknowledged the integral role that technology plays in helping SMEs achieve efficiency and productivity.
By providing SMEs with solutions that enable their digital transformation, it will open up new opportunities for these SMEs to scale beyond where they are today.
As a leading enterprise technology company, SAP is pleased to collaborate with UOB in this journey to drive growth for SMEs in Thailand and across ASEAN.”