A partnership between United Overseas Bank Limited (UOB) and SAP will see the bank’s small and medium-sized enterprise (SME) customers gain access to SAP Business One as part of the UOB BizSmart program.
This is the first time SAP has offered the solution to SMEs through an Asian bank.
SMEs will be able to choose from three Business One options, with various levels of functionality to help digitise back office processes such as accounting and sales. The most basic option will be free.
“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,” said Lawrence Loh, managing director and head of group business banking, UOB.
“A survey we donated 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 customer 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.”
SAP and UOB share a common goal to help ASEAN SMEs seize growth opportunities in the new economy.
Scott Russell, president, SAP Asia Pacific and Japan, 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 Biz Smart 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.
