UOB and SAP tie up to improve SMEs’ operating efficiency through digital solutions

UOB’s SME customers will have access to a suite of cloud-based business applications including SAP Business One

Singapore, 16 November 2017 — United Overseas Bank Limited (UOB) and SAP today announced a tie up to offer SAP Business One[1] to the Bank’s small- and medium-sized enterprise (SME) customers. SAP Business One will be made available as part of UOB BizSmart[2].

The tie-up with UOB is the first time SAP is offering SAP Business One to SMEs through an Asian bank.

The solution will combine in a single package some key functionalities to help SMEs digitise their back office processes such as accounting and sales. SMEs can choose from three options, depending on the functionalities they require and the number of employees in the organisation, the most basic option will be complimentary.

Mr Lawrence Loh, Managing Director and Head of Group Business Banking, UOB, said, “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. A survey we conducted among SMEs earlier this year showed that two in five respondents indicated that cost was a barrier to using digital solutions[3]. To help SMEs overcome this challenge, we have worked with SAP to offer a complimentary, entry-level version to help our customers begin their digitalisation journey.”

“Through the collaboration, we believe our customers would benefit from the use of an enterprise resource planning solution[4] 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, the market leader in enterprise application software, is partnering UOB in light of both organisations’ common goal to help ASEAN SMEs seize growth opportunities in the digital economy.

Mr 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 digitize the way they run and manage their business. UOB BizSmart 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.”

Other potential collaborators on UOB BizSmart include Enterpryze, a mobile business software provider for micro and small enterprises and HReasily an innovative HR solutions company.

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About United Overseas Bank Limited

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 offices in 19 countries and territories in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. UOB is rated among the world’s top banks: Aa1 by Moody’s and AA- by Standard & Poor’s and Fitch Ratings respectively.

In Asia, UOB operates through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and representative offices across the region.

UOB plays an active role in the community, focusing on art, children and education. It has, over more than three decades, held the longest-running art competition in Singapore, the UOB Painting of the Year, which has since been extended across Southeast Asia. In recognition of its contributions to the arts, UOB was conferred the Singapore National Arts Council’s Distinguished Patron of the Arts Award for the 13th consecutive year in 2017. UOB also encourages its employees across the region to be involved in its regular volunteer activities. This includes the annual UOB Heartbeat Run/Walk which is held in China, Hong Kong, Indonesia, Malaysia, Singapore and Thailand.

 

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 365,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com.

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[1] SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve SMEs. SAP Business One provides businesses with instant access to critical business information in areas including financials, sales, customer relationship management and inventory.

[2] UOB BizSmart was launched in Singapore in August 2016. UOB BizSmart consists of a range of digital solutions that manage key operating aspects of small businesses such as accounting, human resource management, point-of-sales, employee management and information security. These digital solutions are (or will be) offered, sold and provided by separate external third parties who are all independent contractors and beyond the control of United Overseas Bank Limited and its affiliates.

[3] The survey was conducted in February 2017 among 200 SMEs to understand their views on how they can benefit from digital technology.

[4] Enterprise resource planning or ERP refers to the systems and software packages used by organisations to manage day-to-day business activities, such as accounting, procurement, project management and manufacturing.