More help is on the way for small-and-medium-sized enterprises (SMEs) to go digital and enhance their productivity.
NTUC U SME and United Overseas Bank Limited (UOB) announced their partnership on 7 May 2018 to help SMEs use digital technology with UOB BizSmart.
It is a cloud-based integrated business solution which will be offered to U SME’s more than 16,000 partners.
Benefits of UOB BizSmart
According to a joint news release by UOB and U SME, UOB BizSmart will enable SMEs to automate their administrative processes like payroll, invoicing and inventory management.
The result? The time spent on administrative work can be reduced to only two and a half days instead of the current four.
This allows SMEs to focus on other parts of their business such as improving the customer experience for better business performance.
UOB BizSmart can also help them narrow the productivity gap between SMEs and larger companies.
It gives access to SMEs to use SAP Business One, an integrated enterprise resource planning software suite designed to receive information on sales, customer relationship management and inventory.
Working With NTUC
Also on the cards is a collaboration between UOB and NTUC to organise monthly consultation workshops with business process consultants to help SMEs understand how they can use UOB BizSmart to improve their processes.
NTUC Assistant Director-General and U SME Director Yeo Guat Kwang said: “For many SMEs out there, the most difficult part is usually taking the first step. By working closely with our U SME partners and UOB, and through the monthly consultation workshops, we hope to provide clear directions and practical steps on how our partners can embark on this digitalisation journey to stay competitive, make SME jobs less laborious, and also help their employees transit into the digital economy.”
More details about the programme can be found at:
www.uob.com.sg/business/BizSmart
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