Yonyou Network Technology (Singapore) and OCBC join forces to deliver innovative financial solutions and enhance enterprise financial management. The partnership was formalized through a Memorandum of Understanding (MOU) signed at the Yonyou Customer Connect SEA 2024 event.
Yonyou, a leading provider of enterprise management software and cloud services in China and the Asia Pacific region, is committed to empowering businesses with cutting-edge technology solutions. By partnering with OCBC, one of Southeast Asia’s largest financial service providers, Yonyou aims to accelerate digital transformation and drive business growth across the region.
This strategic alliance leverages the strengths of both companies to offer a comprehensive suite of financial solutions tailored to the specific needs of Yonyou’s customers. Key areas of collaboration include:
- Integrating seamless digital banking solutions into Yonyou’s enterprise management software to streamline financial processes and improve operational efficiency.
- Developing competitive packaged solutions to support the digital transformation of enterprises.
Yonyou Network Technology (Singapore) and OCBC signed an MOU. Howard Chen, Managing Director of Yonyou Network Technology (Singapore) (left), and Roy Tan, Head of Enterprise Banking International, Global Commercial Banking, OCBC (right) attended the ceremony.
“We are excited to partner with OCBC to deliver value-added financial services to our customers,” said Howard Chen, Managing Director at Yonyou Network Technology (Singapore). “This partnership aligns with our vision of empowering businesses with digital solutions and driving sustainable growth.”
Roy Tan, Head of Enterprise Banking International, Global Commercial Banking, OCBC Singapore added, “We are delighted to collaborate with Yonyou to provide live bank-connected APIs bridging with comprehensive digital financial solutions, such as financial reconciliation travel reimbursement. As the ASEAN bank of choice for Chinese corporates, OCBC Group’s strategic network seamlessly connects businesses with local industry players in Singapore, Greater China, Malaysia, Indonesia and beyond, creating even more business opportunities.”
During the Yonyou Customer Connect SEA 2024 seminar, Chong Hon Loon, Managing Director, Global Transaction Banking, OCBC Singapore, introduced OCBC’s deep history and unmatched local expertise in ASEAN to Yonyou’s enterprise customers. Sharing about OCBC’s twin hub strategy, he shared how the bank is able to support Chinese and network clients expanding into ASEAN markets through strategically located twin hubs in Singapore and Hong Kong. This strategy builds on OCBC’s capabilities and products that are acclimatised to Chinese corporates for their Greater China-ASEAN operations, as well as developing regional cash, trade, and FX capabilities through a regional digital banking solution.
This capability aligns perfectly with Yonyou’s enterprise management systems, which serve global and regional enterprises that need to track financial performance across different regions and currencies. Through Yonyou’s Bank-Enterprise Link and OCBC’s Regional Velocity capabilities, enterprise customers can seamlessly match operational data with OCBC’s transaction data, further ensuring transparency, performance tracking, analysis, and compliance.
The OCBC Virtual Purchasing Card seamlessly integrates with Yonyou’s Business Travel & Expense Cloud, a comprehensive enterprise spending management solution designed specifically for business travel. The Business Travel & Expense Cloud streamlines the entire process by offering integration with major travel platforms like Trip.com and Booking.com, as well as OA (office automation) and ERP (enterprise resource planning) systems. The OCBC Virtual Purchasing Card, designed for electronic transactions, allows employees to conveniently settle expenses, eliminating lengthy reimbursement processes for employers. This combined solution ensures seamless, secure, and swift business travel and expense management, saving valuable time and hassle.
This partnership marks a significant milestone for both Yonyou and OCBC. By combining their strengths and expertise, they are poised to drive innovation and deliver exceptional value to their customers.
