SINGAPORE (Nov 17): United Overseas Bank and SAP are jointly offering the SAP Business One software to the bank’s small and medium-sized enterprise customers, as part of the bank’s UOB BizSmart offering.

The software package by SAP includes key functions that can help SMEs digitise their back office processes such as accounting and sales. There are three tiers to choose from and the most basic option will be free.

“While SMEs are keen to reap the benefits of digital technology, it can be costly to implement such technology,” says Lawrence Loh, UOB’s head of group business banking. “A survey we conducted among SMEs earlier this year showed that two in five respondents indicated that cost was a barrier to using digital solutions,” he adds.

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