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UOB and Enterpryze: Bank Feeds Built for Business Owners

At Enterpryze – we believe that the key to a better and smoother business lies in managing your finances.

This is why everything starts with one powerful interface to tracking and improving your cash flow.

Enterpryze is securely connected with UOB to introduce the next level of business banking and accounting for Asian businesses.

Done through UOB BizSmart (for Singapore) and UOB SmartBusiness (for Malaysia) – this integration allows businesses to have higher flexibility than before to send and receive payments, see real-time bank feeds and tracking it all from one dashboard.

What is UOB BizSmart and UOB SmartBusiness?

These are programmes designed to assist existing and new SMEs customers of UOB bank to digitize their business operation and processes in line with the fourth industrial revolution.

As the name suggests, it is to make businesses smarter with system partners such as Enterpryze providing businesses with an all in one system and yet cost-friendly depending on which spectrum of growth these businesses belong to.

When it comes to managing their business banking and accounting – business owners commonly face 3 issues.

i. Small businesses face problems with payment tracking whenever they received payments from customers

ii. Payments that are received and due are not captured accurately in real-time to determine the cash flow status of the business and how they can improve on their cash collection days.

iii. Banking reconciliation done manually is not easy for auditors to track and verify. As a result, there will be an influx of queries from time to time by auditors and this daunting task is made worst if your files are stored separately.

Integrated with DuitNow and PayNow

Knowing where your payments are coming from and to which invoices to be reconciled gives you admin cost-savings to your finance team.

More so when all your payment vouchers are generated at the store or by your salesperson, a clear reference number immediately syncs with the payment transacted through your bank.

Tracking and extracting data for banking reconciliation has never been easier with Enterpryze and this is greatly elevated with the help of dynamic DuitNow and PayNow QR codes.

As far as business performance is concerned, all businesses want to know how fast is their business cashing in their sales of service or items because as the saying goes cash is the lifeblood of every business.

In the traditional sense, many businesses rely on payment gateways to collect payments from customers, and these services usually come with a business cost charged per transaction.

Not only does this reduces the margin of a business, in fact, but your payments are also being withheld for at least 3 working days and worst by weeks.

Not forgetting, issues arising from reconciliation and payments from the payment gateway providers.

Using DuitNow/ PayNow QR codes removes this ‘middle-man and allow your customers to make a direct payment into your UOB bank account.

Then – you’re able to identify those payments and reconcile to the correct invoices seamlessly all in a single webpage wherever and whenever you are.

Business banking with powerful reporting

How will you benefit from Enterpryze and UOB’s collaboration?

Even with an Accounting Package, you’ll be able to view live incoming and outgoing transactions from your UOB portal account on Enterpryze banking.

This allows for quicker action and accurate day to day bank reconciliation with your payment vouchers created in Enterpryze.

Overall – you also get a good grasp of your current cash balances and are able to review them based on period.

When analysing your business performance, these 3 metrics remain the best to monitor.

  • Viewing accurate foreign exchange rate for the set period
  • Cash collection days from date of invoices issued
  • Live transaction feed from UOB bank account
Bank reconciliation made simple

You’re able to view live incoming and outgoing transactions from your UOB portal account on the Enterpryze banking tab.

This allows for the quick action and accurate day to day bank reconciliation with your payment vouchers created in Enterpryze.

Further, able to review incoming and outgoing payments voucher from the system.

Last but not least, all reconciled bank transactions can be easily traced and verified.

All of these make using Enterpryze a more powerful alternative compared to regular manual bank reconciliation.

Experience business accounting like it's meant to be used.

Navigate your everyday workday with better bank reconciliation, digital payment tracking, live bank feeds and more – from a single dashboard.

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