November 28, 2021 | 00h00
MANILA, Philippines – Security Bank Corp. stressed the importance of digital cash management services in the context of the abrupt change in consumer behavior due to the pandemic.
John Cary Ong, executive vice president and group head of banking transactions at Security Bank, said many companies view cash management as a “nice to have” value-added service provided by banks.
“Today, it is seen as an essential tool to help them run their business. And as these companies go through their own digital transformation, digital cash management services are now an integral part of their end-to-end financial operations, ”said Ong.
Security Bank continues to empower businesses through online cash management because ensuring good cash flow is the cornerstone of any business.
The bank has helped thousands of businesses with DigiBanker, a digital cash management system, allowing organizations to closely and easily monitor cash flow, pay obligations on time, disburse funds correctly, maximize returns cash flow and minimize the cost of doing business in the long run.
Businesses, large or small, need to generate sufficient cash flow from their operations to pay their expenses and grow their operations. As businesses grow, it’s important to track cash flow to effectively provide stakeholders with an overview of a company’s financial health.
Without a systematic process for collecting and managing cash flow, businesses can quickly fall behind in monthly operating expenses, resulting in debt and insolvency due to the inability to anticipate unforeseen liabilities.
Thanks to DigiBanker, entrepreneurs now have the ability to automate tedious and often time-consuming processes.
Client since 2009, W Group has taken advantage of Security Bank’s DigiBanker platform to help them manage their finances, from payments to the Customs Office through PAS5, to paying government dues through the eGov module, and to efficient processing. checks with PDC manager.
W Hydrocolloids Inc. chairman and chairman John Stanislaus Wee said the company is happy to have a partner like Security Bank, helping the company to streamline its financial operations.
“With their efficient collection, liquidity and disbursement platform, we can automate multiple financial transactions, manage daily cash flow, minimize the risk of human error and easily navigate the digital payments ecosystem,” declared
Groupe W is known in the real estate industry for the development of some of Bonifacio Global City’s iconic office buildings such as the W City Center, W Fifth Avenue and Citibank Plaza.
Quickly adapting to the new standard, Security Bank has rolled out new services that have enabled businesses large and small not only to open accounts digitally, but also to enroll in various cash management services.
In addition, the bank also introduced new self-service integration tools such as DigiBanker Assistant, online account opening for BusinessPlus accounts and a dedicated hotline for DigiBanker issues.