United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has joined forces with SAP to offer UOB SmartBusiness, a cloud-based integrated digital business solution powered by SAP Business One, to the bank’s small and medium-sized enterprise (SME) customers.
UOB SmartBusiness helps SMEs to streamline and digitise their back office processes including accounting, payroll and business management simply, quickly, and securely, enabling both improved operational efficiency and reduced costs.
SMEs can link their UOB SmartBusiness account to their UOB current account, which enables automated bank reconciliations for improved speed and security.
UOB SmartBusiness features functionality from human resources software provider HReasily and mobile business software provider Enterpryze to enable use anywhere anytime.
Three package options are available, depending on the functionality required and the size of the organisation. Packages are Micro One, Micro One Plus, and Mobile One. Pricing ranges from free up to RM240 per month. Both paid packages allow a free 30-day trial.
UOB Malaysia executive director and country head of business banking Raymond Chui said the bank targets to sign up 4,000 customers for the new service by the end of next year.
“As SMEs progress through different growth stages, managing a larger and more complex business poses new challenges,” said Chui. “To help our SME customers improve their operational efficiency as they grow, UOB Malaysia is working with SAP to provide SMEs a scalable and affordable digital solution that will save time and money.”
SAP head of general business for Southeast Asia, Brad Gray, called SMEs the cornerstone of the Malaysian economy, accounting for more than 98 per cent of all the business establishments in the country.
“SMEs can up their game by further digitising their core business processes to help them achieve success with instant access to information and streamline everything from finance to talent management,” said Gray.
“UOB SmartBusiness can 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 their core business models and drive business outcomes.”
This collaboration marks the first time SAP has offered SAP Business One, to Malaysian SMEs through a bank.