UOB Indonesia launches new financial supply chain management capabilities in UOB Infinity to enable clients digitalise their supply chain financing

Jakarta, 25 September 2023 – UOB Indonesia announced the launch of its new financial supply chain management (FSCM) capabilities in UOB Infinity, the bank’s digital banking platform for business, to enable clients to digitalise supply chain financing for their trade counterparties across their ecosystems.

Through FSCM, corporate clients will experience new financial supply chain management capabilities whereby they will get a full range of solutions from procurement to payment, ordering to production and sales to collection – all on a single platform.

The FSCM features on UOB Infinity will help improve business efficiency by enabling secured trade documents transmission and verification digitally. In addition, customers are able to request for financing via the same single platform.

UOB Infinity’s new FSCM capabilities will also enhance and complement the current cash management solutions to make it easier for businesses to view, plan and manage their working capital throughout their trade cycles from payment to collection. It will also enable our corporate clients to connect digitally with their suppliers, buyers and distributors across key markets in ASEAN and Greater China.

Client can also have a quick access to financing at different stages of the supply chain ranging from pre-shipment to post-shipment supplier finance, distributor finance and accounts receivable purchase. Predominantly, customers will gain full visibility and control of cash, trade and FSCM transactions through a single platform with a single login.

W Kartyono, Head of Transaction Banking, UOB Indonesia, said, “Given the global uncertainties and market volatility, businesses in Indonesia must navigate a range of complexities to ensure efficient and effective operations in their supply chains. At UOB Indonesia, we understand that maintaining a high level of service and low cost is becoming a necessity for businesses in order to meet customers’ growing demand of ‘more for less’.”

“Our enhanced UOB Infinity FSCM capabilities enable our clients to digitalise their supply chain and facilitate connectivity across their ecosystem by connecting suppliers and distributors digitally allowing them to have a real-time insights and holistic view their financials so they can manage working capital and receivables to help reduce cost and increase efficiencies,” said Kartyono.

Indonesia is the fourth country which has now made available UOB Infinity FSCM to our clients, after Singapore, Hong Kong and Malaysia. This regional capability will continue to be rolled out to other regional markets in ASEAN and Greater China.

So Lay Hua, Head of Group Transaction Banking, UOB said, “UOB Infinity’s FSCM enables our clients to connect digitally with their ecosystem trade partners, upstream and downstream, as well as to simplify management of trade document exchange, unlock trapped cash to ease working capital, and manage the risk of collection under one platform. With the progressive launch of these regionally consistent capabilities across our core markets, we will be able to grant our regional clients greater oversight of their suppliers and distributors interactions, FSCM financing requirements and control of both their domestic and regional FSCM programmes with UOB across these locations through a single view.”

Supply chain management, a critical component of business strategy
Supply chain management has emerged as a critical component of business strategy in today’s intensely competitive global economy. In Indonesia particularly, it can be complex and challenging given its vast geographical location, diverse economy and other unique challenges.

Based on UOB Business Outlook Study 2023 over 7 in 10 businesses in Indonesia consider supply chain management as very important. The country’s supply chain encompasses various sectors, among others that consider of higher importance are consumer goods, manufacturing and engineering, and business services.

The study further concludes that rising supply costs and difficulties procuring supplies are major concerns in Indonesia. In face of these challenges, connections to the digital technology that seamlessly connect business process domestically and overseas between companies and organisations are the key support measure that businesses need to manage their supply chains better.

For more information on the new FSCM capabilities on UOB Infinity, please visit https://www.uob.co.id/corporate/infinity/fscm.page