Enterpryze solution selected by leading Asian bank to support SMEs

Karen Ferreira -

Singapore’s United Overseas Bank to offer Irish company’s solution to its business customers. 

An online and mobile-access solution to SAP Business One developed by Dublin based Enterpryze is to be offered by one of Asia’s largest banks to small- and medium-sized enterprises (SMEs) across Southeast Asia.

United Overseas Bank Limited (UOB) – a leading bank in Asia headquartered in Singapore – has adopted the Enterpryze platform as a key element of its UOB BizSmart initiative to help customers digitalise their businesses.

Enterpryze software will be offered as part of UOB BizSmart to the Bank’s customers across Singapore, Thailand, Malaysia, and Indonesia to help them enhance efficiencies. Enterpryze will deliver services including invoicing, inventory management, expenses, with a payroll system delivered separately by Asia-based HReasily.

Mr Morgan Browne, founder of Enterpryze– an EY Entrepreneur of the Year finalist – said that the selection of Enterpryze by one of Asia’s biggest banks reflects the rapid advancement of the disruptive solution.

“This is a very big moment for Enterpryze. It is a global validation of our solution, having launched less than a year and a half ago. That one of Asia’s best-known banks chose our solution, which provides access to SAP Business One, for its SME customers shows the progress we are making. SMEs make up more than 95 per cent of businesses in Southeast Asia, opening up new market opportunities for us. In addition, it’s also what will flow from this thanks to the global recognition the partnership will give Enterpryze; Banks globally will be looking at this move by one of the biggest players in the industry to support their customers. We continue to have huge support back home that is making this happen, not least from Enterprise Ireland. This is testament to their work also,” he said.

The announcement is in addition to Enterpryze going live in seven countries in East Africa in August last year. The company, which is on target for the 200-job announcement made at its launch in late 2016, is now working with 30 banks globally thanks to the partnership with SAP. It grew its customer base to 5,000 users across 24 countries in its first 12 months of activity.

The UOB BizSmart solution is being deployed by UOB as a key solution for SMEs across Southeast Asia to improve productivity levels. According to the ASEAN[2], SME productivity can be as low as 20 per cent when compared with larger companies. With UOB BizSmart, SMEs will be able to automate administrative processes which in turn enables them to halve the time spent on administrative work and frees up resources for SMEs to focus on other areas of business.

 

[1] Refers to Association of Southeast Asian Nations

[2] The study, conducted by UOB, EY and Dun & Bradstreet, focused on SMEs with annual revenues of between US$1m and US$20m to capture general characteristics of these enterprises but excludes micro or larger enterprises that might present other unique sets of opportunities and challenges.