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FINANCIAL TECHNOLOGY | Staff Reporter, Singapore

UOB unveils digital business solutions for SMEs

Businesses can soon gain real-time overview of their operations.

UOB has tied up with Irish fintech startup Enterpryze to roll out a mobile solution enabling SMEs to access SAP Business One through its cloud-based solution UOB BizSmart.

UOB BizSmart enables businesses to automate certain administrative processes like payroll, invoicing and inventory management so that businesses are able to direct their energies towards more productive activities that require their attention.

The collaboration with Enterpryze enables business owners to gain access to real-time overview of their operations from financial position to inventory levels which they could use to make informed business decisions.

“Most of us now depend on our mobile device because of the speed and convenience it provides and how it ensures optimal use of our time wherever we are,” Lawrence Loh, managing director and head of group business banking at UOB said in a statement. “As the same would apply for small businesses, we have harnessed mobile technology to help them be more efficient and productive.”

Also read: UOB partners with coworking operators to offer 20% rental discount to startups and SMEs

It is found that small businesses that use mobile services more intensively are more likely to generate revenue growth of up to two times faster than their peers.

“By working with Enterpryze to offer mobile capabilities, we can improve the customer experience to include access to business management tools within UOB BizSmart to help small businesses increase their productivity for better business performance,” Loh added.

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