Praise for CIMB Biz-Channel from Perodua and dealers 34%

CO-PUBLISHED CHAPTER
Praise for CIMB Biz-Channel
from Perodua and dealers
CIMB’s online collections and payments system has significantly improved
Perodua’s operational efficiency
P
erusahaan Otomobil Kedua
Sdn Bhd or Perodua,
Malaysia’s second automobile
manufacturer recently
announced that it has
achieved a record 34% market share of car
sales in the country. With an impressive fleet
of passenger cars comprising the Myvi,
Kancil, Kelisa, Rusa and the recently
launched Viva, the company has steadily
increased its car sales since 2005. Perodua
was established in 1993 and launched its first
car, the Perodua Kancil, in late 1994.
Commenting on the success, Datuk Syed
Abdull Hafiz Syed Abu Bakar, chairman of
Perodua Sales Sdn Bhd who is also the
managing director of Perodua said “with the
past year’s upward trend in the sales of
Perodua models, we are confident of selling
160,000 cars by the end of 2007.” He
attributed the success to his dedicated staff
and the aggressive sales campaign by the
Perodua dealers. In addition, the decision by
the Perodua management to embark on an
e-collection system to facilitate the payment
of vehicles from its dealers paid off with the
system provided by the CIMB Group’s cash
management team.
CIMB E-PAYMENT SYSTEM INCREASES
EFFICIENCY
Recalling the decision, Datuk Syed Abdull
Hafiz said the management wanted to set up
34%
Perodua’s market share of car
sales in Malaysia
Datuk Syed Abdull Hafiz
2 FinanceAsia October 2007
www.financeasia.com
CO-PUBLISHED CHAPTER
“CIMB Biz-Channel is an excellent system for both Perodua and its
dealers as the transactions are instantaneous”Datuk Syed Abdull Hafiz, Perodua chairman
a more efficient system within the
organisation when liaising with its dealers.
“At present we have 140 Perodua dealers and
40 sales branches nationwide,” he explained.
Perodua approached several financial
institutions to provide an online collection
cum payment system to enhance operational
efficiency between Perodua’s head office and
its dealers. In February 2006, CIMB cash
management was appointed to provide it’s
online payment system that enabled the
dealers to make payments instantly after
they have placed orders for their vehicles
from Perodua. “CIMB Biz-Channel is an
excellent system for both the dealers and
Perodua as the transactions are
instantaneous. It also enables us to deliver
our vehicles faster to the dealers as well,” said
Datuk Syed Abdull Hafiz. The system has
facilities that include auto-update and autoreconciliation that enables Perodua to track
records of orders for vehicles and payments
made by the dealers. “What is more amazing
is that, our dealers can ensure customers’
orders are confirmed as the transactions are
instantaneous,” he enthused. Dealers also
have the convenience of using the system
anytime, anywhere, which enables them to
log in their sales targets for that period.
Previously dealers ordered the vehicles via
telephone and fax while payments were
made over the counter. “After depositing
their payments into our account at the
branches, the dealers needed to fax us the
receipts as proof of payment,” he added.
“It is a win-win situation for the dealers
and Perodua and proved successful when our
dealers were able to meet the high demand
flexible enough to meet all our requirements,”
he explained. The CIMB cash management
team further added value to this partnership
by assisting the Perodua dealers to sign up for
this system. “To-date we have 73 dealers who
are using the CIMB Biz-Channel to make the
payments,” said Datuk Syed Abdull Hafiz
adding that Perodua will encourage all its
dealers to equip themselves with the system
by year end. “The process is faster and simpler
with the CIMB team conducting road shows
and training for our dealers,” he said.
Ravi Gopal
MANAGING CUSTOMER SATISFACTION
from customers for the new model, Viva,
which we were able to meet due to our
increased output capacity,” he said.
CUTTING DOWN ADMINISTRATIVE
PROCESSES
CIMB’s e-payment system now enables the
dealers to place orders and make payments
online via CIMB Biz-Channel. “We are
impressed with the capability of the CIMB
cash management team which has built a
B2B online settlement function into our
financial system using our dealer sales order
system.” explained Datuk Syed Abdull Hafiz.
He added that the system has cut down all
the unnecessary administrative processes
and has empowered the dealers to focus on
selling the Perodua cars to customers.
In addition to the efficient system, Datuk
Syed Abdull Hafiz said the CIMB’s cash
management team headed by Ravi Gopal, the
director/head of cash management, was
committed to providing the highest service
quality to its customers. “They were willing to
work with us and most importantly, they were
Datuk Syed Abdull Hafiz said Perodua
aims to meet the needs of customers. “We
cater to a cross-section of customers
ranging from those buying cars for the first
time to those needing additional cars or
replacing it. Partnering with the CIMB
Group, which has innovative products and
services has enabled us to manage the
expectations of our dealers and customers,”
he added. Perodua, he said, is proud to be a
partner of a forward-looking organisation
like CIMB that is establishing its footprint
in Southeast Asia. n
"In July 2007, FinanceAsia, Alpha Southeast Asia
and Asiamoney voted CIMB as the "Best Cash
Management Bank in Malaysia" for 2007".
CONTACT
For enquiries, please e-mail at
[email protected] or
contact Mr. Ravi Gopal,
director/head, CIMB’s cash
management at
[email protected] or Mr
Eugene Tan, head of sales
management at
[email protected]
www.financeasia.com
October 2007 FinanceAsia 3
Sponsored profile
Alpha Southeast Asia
a tool which will ensure realisation of
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A major upgrade from Dagang Net’s
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According to Yong Voon Choon, General
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Sharing his views, Ravi Gopal, Director/
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Bank Berhad added, “DutyNet is yet another
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Convenience, flexibility, timeliness and
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In July 2007, Alpha Southeast Asia,
Finance Asia and Asiamoney voted CIMB
as the “Best Cash Management Bank in
Malaysia” for 2007.
For enquiries, please e-mail at cashmanagement@
For enquiries, please e-mail at *careline@dagangnet.
cimb.com or contact Mr. Ravi Gopal, Director/Head,
com or contact Ms. Rosilawati Faiz at wati@
CIMB’s Cash Management - [email protected] or
exchange1.dagangnet.com.
Dagang Net – CIMB Bank Collaboration, the 1st
Internet-based Royal Malaysian Custom’s Duty
Payment System
RM80 million (~USD22 million) per day
– that is the staggering amount of duty
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figures were inconceivable without the
technological advancement, infrastructure
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rapid rise in information technology, such
numbers are no longer unachievable.
The launch of Malaysia’s first ever
internet-based Customs duty payment
system, DutyNet, two years ago immensely
enhanced such payments. DutyNet, jointly
developed by Dagang Net Technologies
Sdn Bhd (Dagang Net) and the CIMB Bank
Berhad (CIMB Bank), is a result of twelve
months of research and development effort
by the two companies in collaboration
with RMC.
Home Grown for Global Market
“The Dagang Net – CIMB Bank
collaboration in DutyNet produced a
homegrown Malaysian product that is set
to put Malaysia on the map of technological
advancement. As the country that entered
its 50th year of independent nationhood,
Malaysia looks to become a competitive
global player in all areas of economic
growth” said Abdul Halim Othman, Head,
Government Relationship Management,
CIMB Bank.
DutyNet has spurred interest in ASEAN,
which is now looking at individual National
Single Window (NSW) where traders from
any originating ASEAN country will be able
to make duty payments to RMC via Dagang
Net’s financial services payment gateway.
RMC has a vision of becoming a worldclass Customs administration. In this
respect, RMC’s mission it to:
• collect duties and taxes efficiently
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and industrial sectors through
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This requires continuous promotion,
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Information and communications technology, particularly the internet, is an
important means for government
agencies to enhance efficiency. DutyNet
is innovative and forward-looking and is
Left:
Yong Voon Choon, General Manager, Dagang Net Technologies Sdn Bhd
Centre: Abdul Halim Othman, Head, Government Relationship Management, CIMB Bank Berhad
Right :
Ravi Gopal, Director/Head, Cash Management, CIMB Investment Bank Berhad
Mr. Eugene Tan, Head of Sales Management, CIMB’s
Cash Management - [email protected]
October 2007 Alpha Southeast Asia 37
CIMB_oct.indd 37
10/4/07 9:18:50 AM
SPONSORED PROFILE
Alpha Southeast Asia
TM ENHANCES OPERATIONS
WITH CIMB’S CASH
MANAGEMENT SOLUTIONS
T
elekom Malaysia Berhad (TM) is the
largest integrated telecommunication
solutions provider in Malaysia and is
one of Asia’s leading communication companies
with operations and interests in 13 countries.
It has a diversified telecommunications
business in Malaysia and in the region.With an
annual turnover of RM16.4 billion in 2006,TM
is poised to become a strong regional player.
As a large corporate entity managing
various subsidiaries and overseas networks,
it is imperative that TM has a competent
cash management solution in place. It is
also essential for TM to have reliable online
financial solutions for real time processing
accessibility and enhanced payment systems
for its employees and vendors.
TM has appointed CIMB Group to provide
specific cash management modules for the
company in December 2006. CIMB Group has
been one of TM’s bankers for many years and
the relationship extends across investment
banking, equity and debt advisory, corporate
banking and retail banking.
It was CIMB Group’s ability to constantly
innovate products and respond instantly to
meet the needs of clients that enabled TM to
select CIMB as a business partner for its cash
management solutions. CIMB also met TM’s
most important criteria, which is to partner
with a progressive and dynamic financial
institution in domestic and regional markets.
Mr. Ravi Gopal, Director/Head, CIMB’s Cash
Management (left) and Mr. Mohamad Haji
Derwish, TM’s General Manager, Corporate
Finance (right)
CIMB Host-to-Host Solution
With the appointment, TM has embarked on
CIMB’s Host-to-Host (HTH) connectivity to
perform Autopay (online) services for all its
20,000 staff salaries and statutory payments to
Inland Revenue Board (IRB). It is a fast, secure
and efficient delivery channel which enables
TM to upload its payment files to CIMB and at
the same time leverage CIMB Biz-Channel, the
internet banking portal, to retrieve account
information any time, any where.
The process is now made simpler and
TM no longer finds the need to deal with
various banks or send diskettes containing
payment files accompanied with written
instructions. CIMB’s HTH solution has
saved TM time and enhanced its operational
efficiency. In addition to salary payments,
TM also uses HTH to process and pay staff
claims and relevant expenses.
With the pre-authorised payment
files feature in the system, TM now no
longer needs to go through additional
authorisation. Looking at the capability of
CIMB’s HTH and its ability to take high
transaction volumes,TM is now considering
rolling this out for salary payments to all its
subsidiaries within the group.
CIMB Liquidity Management
System
To ensure TM has an efficient and flexible
liquidity management structure to enhance
its working capital, manage risk and comply
with local regulations, CIMB’s Liquidity
Management System (CLMS) was adopted. It is
applied for TM’s 39 Group Accounts in Phase
One where CIMB provides an automated zerobalance sweep structure. This falls directly
under the guidelines of the Purple Book
issued by Khazanah Nasional Berhad, which is
to optimize the available float collection of TM
under its capital efficiency management.TM is
the first Government Linked Company (GLC)
to pioneer this service together with CIMB.
The comprehensive CLMS offers visibility
and control over TM’s liquidity positions,
increasing opportunities to enhance
interest earnings on surplus cash residing
as idle cash balances, deploy inter-company
funding more effectively and improve
operating efficiencies. CLMS enables TM to
have automated overnight money market
placements that can be monitored by
authorised personnel. The service offers
investment opportunities to maximize yields
on idle balances in the accounts to assist
corporate treasurers in maximising returns.
TM is currently planning to include all TM’s
subsidiaries’ accounts and explore inter-
company loans and interest re-allocations.
Cheque Matching
CIMB Group’s commitment to provide best of
breed financial services to its customers was
evident when it conducted a complete process
mapping exercise with TM’s retail business.
It offered TM its cheque matching services.
This expedites the current manual cheque
collection and clearing process. Under this
initiative, the process is focused on shortening
the collection cycle, timely updating of
collections, ease A/R reconciliation. In addition
CIMB will also provide images of the cheques
and enhanced exception management
reporting for customer service enhancement.
CIMB Biz-Channel
As the first domestic bank to offer internet
banking services for Cash Management
services, CIMB Biz-Channel has become an
essential tool for TM to conduct its various
online banking transactions. Amongst others,
CIMB Biz-Channel offers a fully integrated and
complete Cash Management service with the
following core components:
•
•
•
•
Account Management
Accounts Payables Management
Accounts Receivables Management
Liquidity Management
CIMB Cash Management Team
TM acknowledges CIMB’s commitment in
providing excellent service for its clients.
CIMB has a dedicated Cash Management
advisory team focusing on innovating
and providing solutions to TM and other
corporates including SMEs. In July 2007,
Alpha Southeast Asia, Finance Asia and
Asiamoney voted CIMB as the “Best Cash
Management Bank in Malaysia” for 2007.
TM is pleased to partner with CIMB’s
Cash Management Team in its pursuit for
excellence in managing the company’s
financial resources.
For enquiries, please e-mail at cashmanagement@
cimb.com or contact Mr. Ravi Gopal, Director/Head,
CIMB’s Cash Management at [email protected]
or Mr.Eugene Tan, Head of Sales Management, CIMB’s
Cash Management at [email protected]
August 2007 Alpha Southeast Asia 37
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8/9/07 3:06:22 PM