DBS, UOB launch new advisory services to help businesses

Singapore-DBS

DBS Bank and United Overseas Bank on Tuesday launched new advisory services to help their corporate clients.

DBS said its working capital advisory programme seeks to help companies free up cash flow by assisting them in analysing their physical and financial supply chains.

For example, the programme can help to identify if the firm has too much inventory on-hand where cash is tied-up or if the firm’s customers are behind in payments.

The bank can then recommend that the firm reduce its inventory to free up cash or put in place an automated payment reminder so that the firm’s customers can pay on time.

DBS estimates that there is US$2.7 trillion worth of “trapped cash” in Asia due to sub-optimal working capital management.

Its transaction banking business generates about S$1.5 billion in revenue annually and has delivered a 29 per cent compound annual growth rate over the last four years.

Meanwhile, UOB has set up a foreign exchange (FX) advisory and trading unit dedicated to help small businesses, defined as companies with an annual turnover of less than S$20 million.

UOB said a team of more than 40 FX specialists can advise firms on hedging solutions, conduct business cash flow analysis and provide insights on financial market trends.

The specialists are based in Malaysia, Indonesia, Singapore and Thailand.

According to UOB’s data, 14 per cent of small business customers currently use currency conversion or hedging solutions such as spot and forward contracts as part of managing their day-to-day operations.

The bank expects this to double to at least 30 per cent in three years.

Apart from the FX advisory and trading unit, UOB is also launching a new mobile app to provide real-time FX information, news and research reports to small businesses.

The mobile app, called UOB Business, was developed following a UOB survey done in 2013, which found that 70 per cent of small business owners work outside of their office.

 

 

 

Source : Channel News Asia | March 18, 2014

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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