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FINANCIAL SERVICES | Staff Reporter, Singapore
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UOB to offer cloud-based solutions for SMEs

UOB BizSmart can help businesses automate administrative processes.

UOB has partnered with labour movement initiative NTUC U SME to offer digital solutions that can significantly boost the productivity of SMEs.

The collaboration will offer UOB BizSmart, a cloud-based integrated business solution, to the 16,000 partner enterprises of the U SME network. The digital solution can help automate administrative processes like payroll, invoicing and inventory management.

“At UOB, we have been helping SMEs to seize opportunities, to overcome business challenges and to benefit from the use of digital solutions,” said Mervyn Koh, UOB Managing Director and Country Head of Business Banking, Singapore. “We understand that SMEs are looking to manage their costs by harnessing digital technology for productivity growth, over methods such as sourcing for cheaper suppliers or reducing overheads.”

Also read: UOB partners with co-working operators to provide startups with rental discounts

Through UOB BizSmart, SMEs will be able to access SAP Business One, an integrated enterprise resource planning software suite which can help reduce the SME productivity gap against larger companies.

SMEs can select from three options within the UOB BizSmart bundle, depending on the functionalities and the number of users they require, with the most basic option being complimentary.

The bank will also work in close coordination with NTUC to organise monthly workshops with business process consultants to orient and provide practical guidance to SMEs on the features of UOB BizSmart.

“We hope that by partnering UOB and leveraging platforms like UOB BizSmart, we will be able to better provide our SME partners with the necessary tools to digitalise their business operations with ease,” said NTUC U SME Assistant Director-General Yeo Guat Kwang.

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