UOB and SAP to offer SMEs back-off capabilities
(14 November 2017 – Asia) United Overseas Bank Limited (UOB) and software providers SAP have announced a partnership to offer SAP Business One to the bank’s small- and medium-sized enterprise (SME) customers. SAP Business One will be made available as part of UOB BizSmart2.
The tie-up with UOB is the first time SAP is offering SAP Business One to SMEs through an Asian bank.
The solution will combine in a single package some key functionalities to help SMEs digitise their back-office processes such as accounting and sales. SMEs can choose from three options, depending on the functionalities they require and the number of employees in the organisation, the most basic option will be complimentary.
Managing Director and Head of Group Business Banking, UOB, Lawrence Loh, said, “UOB has been supporting SMEs for more than 80 years and we know that ensuring efficient operations is their priority. While SMEs are keen to reap the benefits of digital technology, it can be costly to implement such technology. A survey we conducted among SMEs earlier this year showed that two in five respondents indicated that cost was a barrier to using digital solutions. To help SMEs overcome this challenge, we have worked with SAP to offer a complimentary, entry-level version to help our customers begin their digitalisation journey.”
“Through the collaboration, we believe our customers would benefit from the use of an enterprise resource planning solution to automate and to manage their administrative processes. Having a direct link to their operating accounts with UOB would enable them to manage their company finances more effectively.”
In a joint media release the firms said they were partnering “in light of both organisations’ common goal to help ASEAN SMEs seize growth opportunities in the digital economy.”
SAP’s President in Asia Pacific and Japan, Scott Russell, said, “SMEs are key drivers of the ASEAN economy and need to be equipped with the right infrastructure and tools to operate in today’s business environment. As more SMEs become digitally-savvy, we recognise the need to help them digitise the way they run and manage their business. UOB BizSmart featuring SAP Business One could help SME business owners make the transition to digital and take away the hassle of managing complicated operational tasks manually, empowering them to focus on driving business outcomes.”
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