BDO Unibank Inc. (BDO) secured its sixth consecutive win as the Best Cash Management Service Provider in the Philippines at The Asset Triple A Treasurise Awards 2024 in Hong Kong. BDO’s Cash Management Services (BDO CMS) was recognized for consistently providing tailored solutions to help emerging start-ups to large-scale businesses effectively manage their cash flow, liquidity, and financial resources.
A specific market gap that BDO CMS aims to address is the challenge that ails many of the biggest retailers in the Philippines. The challenge of finding the right bank partner with both the experience and the scale to address their heavy cash servicing requirements and the expertise to ease the difficult task of reconciling payments.
“We make sure to have consistent conversations with our clients to understand what they need. Depending on where they are in their treasury journey, we assess and offer solutions that will best optimize their cash flow. We leverage on the scale of our physical footprint nationwide and the available technology at our disposal to enable our clients to manage their day-to-day operations and cash cycles with greater efficiency,” said Carlo Nazareno, Senior Vice President and head of BDO Unibank’s Cash Management Services.
BDO CMS continues to innovate its services, from improving the interoperability of BDO Online Banking, the Bank’s secure online banking platform for corporates, to expanding area coverage of cash services like Deposit Pick-ups, Motorized Cash and Check Pick-ups and Corporate Cash Deposit Machines (CCDMs).
CCDMs are secure, 24/7 onsite depositories. This service reduces excess on-hand cash and optimize the handling processes. Additionally, once the deposit is accepted by the machine, cash is insured and the funds are credited to the client’s account, ready to be reinvested back to the business. The provision of real-time information via BDO Business Online Banking complements the CCDMs. There’s easier reconciliation and determination of cash/ sales position due to real-time reporting.
The Asset Triple A Treasurise Awards honors financial institutions and companies for their significant initiatives in treasury management, trade finance, supply chain, and/or risk management. The winning entries underwent a rigorous selection process that included client engagement, analysis of business statistics, and examination of information gathered during the review period.
