BDO's Cash Management Becomes Tool for Financial Inclusion

A number of small and medium enterprises (SMEs) in Negros Occidental will soon be able to utilize BDO Unibank's cash management services (CMS) not only to efficiently manage their cashflow, but also to serve as an important financial inclusion tool for their own employees.

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In an SME Forum titled Usapang Negosyo held recently at the Circle Inn Hotel & Suites in Bacolod City hosted by BDO, SMEs witnessed firsthand how BDO's bundled CMS package consisting of Business Online Banking, payroll and check disbursement will be able to help their businesses run smoothly by leveraging on the bank's online and digital solutions.

But what really piqued their interest was how the payroll of CMS will help them automate their own payroll preparation and delivery. Under this feature, SMEs will open savings accounts for their employees, thus enabling their staff to receive their salary semi-monthly through their accounts.

This will be of great importance to SMEs as a number of them still process their payroll manually. Moreover, most if not all of their employees do not have a bank account yet.

"The payroll of CMS is good for our employees because it will also serve as their savings account. All of our employees don't have a bank account yet," Jamielyn Tampus, dealer and operator of EcoOil gas station, said. "It'll make the payroll process convenient and save us some resources. We won't need to use envelopes. And even on weekends, processing the payroll will just be one click away."