United Overseas Bank Malaysia (UOB) and SAP, a leading business software provider, launch a tie up to offer UOB SmartBusiness to the bank’s small and medium sized enterprise (SME) customers. This is the first time SAP is offering its enterprise software, SAP Business One to Malaysian SMEs through a bank.
UOB SmartBusiness is a cloud based integrated digital business solution design to help SMEs make cost savings and improve their operating efficiency. It enables SMEs to streamline and to digitise their back-office processes such as accounting, payroll and business management system through a secure and integrated digital solution. SMEs can also link their UOB SmartBusiness account to their UOB current account, enabling an automated bank reconciliation process through the matching of transactions to sales invoices or bill payments.
Wong Kim Choong, CEO of UOB Malaysia says, “With UOB SmartBusiness, we want to provide digitalise solutions for small businesses. SMEs can choose from there options, depending on the functionalities they require. The starter pack will be complimentary for UOB Malaysia’s Business Banking customers. The other options are priced between RM49 to RM200 a month, depending on the customise solutions.”
Brad Gray, Head of General Business, Southeast Asia, SAP says, “For SAP, 80% of our 380 000 customers are SMEs. In Malaysia, 37% of the GDP is from SMEs and they contribute 65% of employment. We provide a portfolio solution to SMEs. With SmartBusiness, it will help SMEs with their digitalisation journey.”
Other collaborators on UOB SmartBusiness include human resources software provider, HReasily and mobile business software provider, Enterpyze.