BDO named top cash management provider

Sharlene Soo, First Vice President and Country Head of BDO Hong Kong, receives BDO’s Best Cash Management Service Provider in the Philippines award at The Asset Triple A Treasurise Awards 2024 in Hong Kong.

BDO Unibank Inc. (BDO) has achieved its sixth consecutive win as the Best Cash Management Service Provider in the Philippines at The Asset Triple A Treasurise Awards 2024 held in Hong Kong.

BDO’s Cash Management Services (BDO CMS) received recognition for consistently delivering tailored solutions that assist businesses, from emerging start-ups to large-scale enterprises, in effectively managing their cash flow, liquidity, and financial resources.

A significant market gap addressed by BDO CMS is the challenge faced by many of the Philippines’ largest retailers in finding a banking partner with the necessary experience and scale to meet their heavy cash servicing needs and simplify the complex 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 offerings, enhancing the interoperability of BDO Online Banking, the bank’s secure online platform for corporate clients. Additionally, the service has expanded its coverage of cash services, including Deposit Pick-ups, Motorized Cash and Check Pick-ups, and Corporate Cash Deposit Machines (CCDMs).

CCDMs are secure, 24/7 onsite depositories that reduce excess on-hand cash and optimize handling processes. Once a deposit is accepted by the machine, the cash is insured and the funds are credited to the client’s account, ready for reinvestment into the business.

The provision of real-time information through BDO Business Online Banking complements the CCDMs, facilitating easier reconciliation and determination of cash or sales positions 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 risk management.

The rigorous selection process for the awards includes client engagement, analysis of business statistics, and examination of information gathered during the review period.