BDO's Tailored Financial Solutions Transform Filipino Businesses
BDO Unibank Inc., one of the Philippines' leading financial institutions, is revolutionizing how small and medium enterprises manage their operations through customized Cash Management Solutions (CMS). These digital tools are specifically designed to address the unique challenges faced by Filipino entrepreneurs across different business stages.
According to Grace R. Caguioa, BDO Unibank First Vice President and Head of Transaction Banking Group CMS-SME Segment, the bank's approach focuses on providing tools that facilitate easy payments to suppliers and efficient collection from customers. "That's where we come in—we provide tools and services to facilitate easy payments to suppliers, and fast and efficient collection from their customers," Caguioa emphasized.
From Manual Processes to Automated Efficiency
Bernardo Borlagdan, who manages multiple businesses including hardware, construction, and laundromat operations in Albay and Metro Manila, discovered BDO's CMS during the recent Usapang Negosyo SME Forum in Legazpi City. Together with his wife Janilyn, Borlagdan oversees ventures in Tabaco City, Albay, and Pasig City that employ up to 30 workers.
The couple's biggest challenge has been managing manual payroll processes, which involved handling cash, frequent bank visits, and ensuring safe fund delivery to construction sites. "Automating our payroll will not only secure our funds, but liberate our time and resources," Borlagdan shared during the forum.
Check disbursements presented another significant hurdle, with manual verification processes being both tedious and prone to costly errors. Borlagdan anticipates that automation will streamline tracking and reduce mistakes, allowing more time for strategic business planning.
Turning Crisis into Opportunity with Digital Solutions
Ma. Florencita Cansino, president of Hyatt Diagnostics System, Inc. and Goldylab Enterprises in Davao, demonstrated remarkable resilience during the pandemic. When her primary business providing diagnostics services for overseas workers halted operations, her medical supplies company pivoted to meet the urgent demand for COVID-19 testing equipment.
Cansino credits BDO with supporting her businesses from their early stages. "BDO was with Hyatt during its infancy stage. We always took out loans from BDO because we couldn't compete effectively at the start, using our own money. We needed additional capital for business development," she recalled.
By adopting BDO's CMS, Cansino achieved dramatic improvements in operational efficiency. Payroll reconciliation that previously took up to 10 days now requires only two hours. "Now, I can pay suppliers, print checks, and conveniently pay employees' salaries online anytime, anywhere," she shared.
No One-Size-Fits-All Approach to Business Finance
BDO recognizes that companies have diverse financial needs depending on their scale and industry. Large enterprises require streamlined, agile solutions for transaction management, while growing businesses need tools that can scale with their operations.
For businesses in critical sectors like healthcare, where accuracy is paramount, BDO's solutions provide the reliability needed to prevent costly errors. "One error in issuing a medical certificate can have serious consequences. That's why accuracy is everything," Cansino emphasized, highlighting the importance of dependable financial tools in her industry.
Both entrepreneurs agree that BDO's CMS has been instrumental in their success stories. Borlagdan looks forward to expanding his community contributions through more efficient operations, while Cansino has successfully navigated pandemic challenges through adaptability and the right financial partnership.
Entrepreneurs interested in exploring BDO's Cash Management Solutions can visit the bank's website or drop by any BDO branch to learn how these tools can transform their business operations and drive growth.
