This post is also available in: Singapore
How Singapore SMEs save time to be extra productive every day that contributes to them becoming a successful company?
Let’s find out!
Many companies are spending 74% of their time on non-core activities of which 34% is on Bookkeeping, IT and Banking. That is a lot of time spent on creating transactions, matching them to banking data, processing payments, and in some cases managing foreign exchange (it is a profit centre in its own right).
So how did one solution helps save time and therefore costs?
By bringing business and banking closer than ever before with bank feed
What is Bank Feed?
A bank feed is an automatically created list of the transactions (spent and received) in your bank account. It integrates with your live online bank account and reduces the time you spend manually entering transactions.
The impact of bank feeds for small businesses has been huge. Accounting programs can automatically match a transaction in a bank feed with a sales invoice awaiting collection or a bill awaiting payment. This cuts out hours of manual data entry required to reconcile accounts.
How do we help Singapore SMEs save 34% of their time?
As part of the UOB BizSmart Programme, Enterpryze provides direct bank feed from your UOB Business Account. You can automatically import your bank transactions on a daily basis, thus saving you both time and money. And when these transactions are paired with invoices, bills and purchases, reconciliation can be done quickly and seamlessly.
- Get direct feed from UOB that allows us to auto-match your bank statement
- The payment feature enables you to send your outgoing payments to UOB to be processed
- Get paid faster and receive real-time confirmation with the by integrating your PayNow
- Enjoy better FX by booking the rate directly with UOB from your outgoing payments
- View real-time bank balance
- The ability to import bank statements from DBS and OCBC to reconcile other banks accounts
- Mastercard & Stripe integration to help you get paid faster
By getting more real-time information, you can now make better business decisions, thus, running your business better. With the support of your most trusted partner and the government in Singapore, you get the power of business and banking for a fraction of what it normally costs. Perfecting Partnerships is what Enterpryze is all about.
UOB customers can defray up to 70% of the setup cost under the SMEs Go Digital Programme. Plus, receive $200 from IMDA e-Invoicing Registration Grant by registering to join the Peppol Network by 31 December 2020.