Smooth-running cash flows are integral to the growth of any business, especially for companies like idsMED Group, a leading medical supply chain provider in Asia.
With operations spanning nine countries, including Singapore, Malaysia, and Indonesia, the company delivers not just medical equipment to hospitals and laboratories, but also contributes to the training of healthcare practitioners as well as developments in biomedical engineering.
As idsMED Group sits within a healthcare industry that is capital-intensive, the company requires astute management of its entire working capital cycle. Solutions are needed to oversee cash flows across various geographies as well as to overcome mismatched working capital durations, which happen when payables and receivables are not in sync.
This is when UOB steps in, delivering a customised set of financing solutions for idsMED Group as the latter liaises with its customers, vendors, and suppliers. The approach has also helped to address aspects such as account receivables and account payables – in the process reducing the company’s working capital exposure.
By tapping the Bank’s industry expertise and digital capability to assess its cash flows virtually, idsMED Group becomes more efficient at redistributing its capital, contributing to its expansion across the region.
With comprehensive solutions tailored to clients’ needs, UOB’s “One Bank” approach connects businesses to growth opportunities in the region, and beyond.