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RETAIL BANKING | Staff Reporter, Singapore

UOB moves to boost SMEs' online sales management

The bank aims to enhance processes like inventory storage and management.

UOB has tied up with e-commerce firm Synagie to enable its small and medium enterprise (SME) clients in Singapore to have a preferential access to Synagie’s range of e-commerce solutions, according to a statement. 

Also read: UOB unveils digital business solutions for SMEs

Amongst the solutions are which is a one-stop cloud-based platform that allows businesses to integrate their sales and distribution in Singapore and Malaysia across multiple e-marketplaces such as Lazada, Qoo10 and Shopee, as well as offline channels using a single dashboard. It also offers on-demand warehousing and fulfilment services on a pay-per-use basis.

Through the partnership with Synagie, the bank’s SMEs clients can manage a wide array of e-commerce processes including inventory storage and management, digital marketing and multi-channel sales, distribution, and fulfilment of customer orders. SMEs may also access comprehensive overview of their customer demand and cash flow, and a more effective reconciliation of their financial accounts through the solutions. will also provide real-time big data analytics tools to help businesses understand their customers’ buying preferences, thereby better identifying sales and marketing opportunities.

“The consolidated management of their sales and distribution on a single dashboard will also provide them with a better understanding of their own cash flow needs, enabling them to seek financing promptly,” UOB head of enterprise banking Choo Kee Siong said in a statement. 

The two firms are eyeing a regional collaboration, with the launch in Malaysia by end-2018, and progressively rolled out to Thailand, Vietnam, and Indonesia.

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