Companies that harness the benefits of technology to manage their supply chains with greater effectiveness and efficiency will gain a competitive edge in today’s digital economy.
To this end, UOB offers SMEs and corporations a suite of market-ready and proprietary digital solutions to manage their supply chain processes across all stages. The digital solutions help businesses to achieve improved cash flow, better productivity and improved business performance.
UOB adopts a four-step approach to help businesses manage their supply chain better.
UOB performs industry benchmarking for businesses to see how they stand against competitors in the industry.
We help businesses find areas for improvement in their management of physical supply chain processes – opportunities to streamline and automate their processes. By analysing the client’s receivables, stock holdings and other financing requirements, we also help businesses to save costs by unlocking savings that will either benefit the business or its supply chain trading partners.
Thereafter, UOB helps businesses overcome their challenges in supply chain management with the adoption of digital solutions to automate and digitalise operational processes. Our solution partners include:
*Available on UOB BizSmart
The Bank’s specialists will also recommend to businesses the relevant banking solutions to help them optimise their supply chain and working capital. Examples of these solutions include:
A challenge commonly faced by clients in the F&B industry, particularly large restaurant chains, is the high volume of invoices from suppliers that need to be processed manually. Besides the substantial amount of time and resources spent on a low-value activity, discrepancies in the invoices can often result in late payments.
UOB can help such clients harness technology to manage their supply chains with greater efficiency.
For example, a restaurant chain could benefit from integrating EzyProcure to automate the procure-to-order process, with reconciliation services from order to payment; financing solutions which include early payment discounting and virtual payment solutions; and UOB’s Business Internet Banking Plus to make timely payments and gain better visibility of its cash flows through consolidated reports.
To learn more about our integrated working capital solutions, get in touch with us.
Find out how you can ride on the growth opportunities in ASEAN with our FinTech in ASEAN: The Next Wave of Growth whitepaper, in collaboration with Singapore FinTech Association.
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