BUSINESS FINANCIAL MANAGEMENT
Helping you plan ahead for a stress-free business
Seamless invoice and expense management, making account receivable and account payable effortless
Real-time access to all your business accounts for smart cash flow forecasting
Simple, intuitive and stunning visualisation of your past, present and future cash flow position
Good business financial management can better position your business to deal with unexpected changes and capitalise on opportunities
Good business financial management is the ability to see red flags and avoid pitfalls in your business. To achieve this, robust cash flow management is critical.
Cash flow is the lifeblood of any business. Many businesses that fail cite lacking clear visibility to their business financials leading to poor cash flow management as the reason.
Cash flow management is an essential process of tracking and analysing invoice management (AR) and expense management (AP). Knowing the 'highs and lows' and 'ins and outs', you can work out how to achieve a positive cash flow position, know when you need additional funds to cover a shortfall, or decide when to invest the extras for growth.
See how Business Financial Management can help your business
Our Business Financial Management capabilities are integrated into OCBC Velocity^, your digital business banking platform. With intuitive and stunning data visualisations, we give time-starved businesses quick access to a complete view of their business finances. This is flexible and useful for businesses at all stages, from start-up to growth.
First bank in Singapore to integrate Business Financial Management capabilities in digital banking+
Seamless experience where you can easily reconcile all your business transactions and see an up-to-date view and complete picture of your cash flow.
Track & get a 360° view of your business finances
E-Invoicing: Make account receivable (AR) and account payable (AP) management effortless and handle end-to-end payment cycles for your business.
No need to use manual spreadsheets or subscribe to invoice generation tools. It's free to use!
Build customer and goods & services database
Save time when creating subsequent e-invoices.
Invoice status at a glance
Get notified when a collection is due and view your invoice status as 'overdue', 'paid' or 'pending' in a glance.
Spend less time in trouble-shooting payments & collections errors.
Track & get insights to customers' payment patterns and behaviours to anticipate any repayment issues.
Receive and record bill invoices from your suppliers.
Get bill alerts
Get alerted on bill payments to avoid late charges and make payment directly from your business account.
Billing status at a glance
View your bills status as 'overdue', 'paid' or 'pending' in a glance.
Business Fortune Teller
See your past, present and future* inflows & outflows. It's like having a 'business fortune teller' on your cash flow position.
Intuitive and easy to use
Your data is organised through simple, intuitive and stunning visualisations, making it easy for you to read and act upon.
Get real-time access to all financial accounts, see all accounts, or deep dive into a single account.
Make it yours
Personalise your view. See all accounts together or deep dive into an individual account. You can also choose either cash flow or balance view along with currency type and period.
Income and expense planning
Keep your business expenses under control and not be caught in a negative cash flow positions.
Grow your business
Make provision for opportunity of growth or contingency.
“Using Business Financial Management (BFM) helps to track the payments made from customers, so that I am able to manage my cashflow and production timeline better. BFM also helps with my simple accounting needs with the auto-reconciliation function. I managed to cut down the time and effort taken to match the invoices to payments by more than 90%, and have freed up a lot more time for other productive work.”
British Education Centre
British Education Centre
“The tracking of payments allow for timely and accurate tracking of cashflow. In addition, the seamless integration of the auto-reconciliation function between the transactions and invoices enhances the efficiency in matching the payments, resulting in manpower required and time taken reduced by more than 50%.”
Available and free to all OCBC Business Banking customer
For customers on the "Basic" or "Flex" plan, kindly reach out to your RM or call us at +65 6922 3199 to request for activation of the features of Business Financial Management.
Terms and conditions
*Future cash forecast will become available late 2021.
^Business Financial Management capabilities on OCBC Business Mobile Banking app to be available soon.
Temporary Bridging Loan
New times, new opportunities. Elevate your business with the Temporary Bridging Loan and bounce back stronger.
Business Growth Account
No physical contact needed, no crowd. Open your business account online and get your account number on the spot. Simple, safe and convenient.
Digital Business Banking
Take your business forward with OCBC Velocity. Maximise our powerful features and advanced tools to grow your business more effectively in this modern economy.
ASEAN SME Bank of the Year 2020
Asian Banking and Finance
Asian Banking and Finance
Best SME Bank in Singapore 2020
Alpha Southeast Asia
Alpha Southeast Asia
Best SME Bank Singapore 2020
Terms and conditions governing the Business Financial Management Usage Promotion (the "Campaign")
- The Campaign shall run from 15th June 2022 to 15th September 2022 (both dates inclusive), or such other periods(s) as may be determined by Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) at its sole and absolute discretion (the “Campaign Period”).
- You will qualify for the Campaign:
- if you have not manually generated any sales or bills invoices through the Business Financial Management e0Invoicing module on OCBC Velocity ("e-Invoicing Module"), at any point of time before 15th June 2022; and
- you must have either received or generated and sent out, as the case may be, a total of 5 or more Eligible Sales Invoices or Eligible Bills Invoices within the Campaign Period.
For the purposes of the Campaign and these terms and conditions:
“Eligible Customer” means a [customer of OCBC Bank] who fulfils both of the criteria stated in Clause 2.
“Eligible Sales Invoice” refers to a sales invoice which is generated through the e-Invoicing Module and sent to a recipient, and the status of such an invoice, in the e-Invoicing Module, must be reflected as “paid” by 15th September (inclusive of this date).
“Eligible Bills Invoice” refers to a bills invoice which is received through the InvoiceNow network and for which an e-invoice is automatically created in the e-Invoicing Module; or a bills invoice which is manually generated through the e-Invoicing Module, and for both types of bills invoice, the status of the bills invoice, must be reflected as “Paid” by 15th September (inclusive of this date), in the e-Invoicing Module.
“OCBC Account” means a Singapore dollars denominated current account held with OCBC Bank.
- The first 200 Eligible Customers to meet the requirements set out in these terms and conditions shall be entitled to receive a cash incentive of S$25 each (the “Reward”), subject to these terms and conditions.
- In the event that any person entitled to the Reward is subsequently found to be ineligible for the Campaign, OCBC Bank shall not be obligated or liable to provide the Reward to another Eligible Customer.
- Subject to these terms and conditions, an Eligible Customer can only receive the Reward once under this Campaign.
- Eligible Customers who qualify to receive the Reward will receive it by 30th November 2022, or such other timing as may be determined by OCBC Bank in its sole and absolute discretion. The Reward will be credited directly into such Eligible Customer’s OCBC Account (if the Eligible Customer only has one (1) OCBC Account) or any of such Eligible Customer’s OCBC Accounts (if the Eligible Customer has more than one (1) OCBC Account), or such other medium of transfers as may be determined by OCBC Bank at its sole and absolute discretion.
- OCBC Bank reserves the right in its sole and absolute discretion to determine whether an invoice qualifies as an Eligible Sales Invoice or Eligible Bills Invoice under the Campaign. If OCBC Bank in its sole and absolute discretion decides that any invoice is not to be considered an Eligible Sales Invoice or Eligible Bills Invoice, such that an Eligible Customer does not fulfil the criteria stated in Clause 2 above, the Reward will not be awarded to that particular Eligible Customer.
- If any Eligible Customer is subsequently discovered to be in breach of any of these terms and conditions, or ineligible to participate in the Campaign or to receive the Reward (which eligibility shall be determined at the sole and absolute discretion of OCBC Bank), OCBC Bank reserves the right to (i) forfeit or withdraw the Reward at any time; or (ii) (where the Reward has been credited) claw-back the Reward or request the Eligible Customer to repay to or compensate OCBC Bank the value of the Reward at any time. No person shall be entitled to any payment or compensation from OCBC Bank should any Reward be forfeited or withdrawn, if any Reward is reclaimed by OCBC Bank, or if a customer is asked to repay to or compensate OCBC Bank the value of the Reward for whatsoever reasons.
- OCBC Bank reserves the right to substitute or replace the Reward with any item of similar value at its sole discretion without notice to any person.
Data Protection and Consent
- By participating in the Campaign, the Eligible Customer acknowledges and agrees that OCBC Bank, may collect, use, disclose and/or process data (which may include without limitation, personal data) relating to the Eligible Customer, such as, without limitation, the details and business contact information of the Eligible Customer and/or the Eligible Customer’s representative(s) (collectively, “Customer Data”). Such Customer Data may be collected, used, disclosed and/or processed for:
- the purpose of determining the eligibility of the Eligible Customer to participate in the Campaign;
- the purpose of managing, administrating and conducting the Campaign;
- the fulfilment and delivery of the Reward to the Eligible Customer, where applicable; and
- such other purposes as may be set out in OCBC Bank’s respective data protection policies and/or privacy policies,
- In providing any Customer Data to OCBC Bank in the course of the Campaign, the Eligible Customer represents and warrants that:
- such Customer Data is accurate, complete and true; and
- where Customer Data relates to an individual (for example, the Eligible Customer’s representative(s)), the Eligible Customer has the valid authority and consent from such individuals to act on their behalf and provide such Customer Data to OCBC Bank to collect, use, disclose and process for the Purposes.
- By participating in the Campaign, the participant shall be deemed to have read, understood and accepted these terms and conditions.
- The eligibility of any Eligible Customer to receive any Reward shall be determined at the sole and absolute discretion of OCBC Bank.
- OCBC Bank reserves the right to, at its sole and absolute discretion and at any time without notice, modify, revise, vary, delete or add to any of these terms and conditions or extend, terminate, withdraw or modify the Campaign, including without limitation, the eligibility criteria and the dates of the Campaign.
- OCBC Bank’s decisions on all matters relating to the Campaign shall be final and binding on all participants of the Campaign. No correspondence or appeal shall be entertained by OCBC Bank.
- In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the Campaign, these terms and conditions shall prevail.
- To the fullest extent permitted by law, OCBC Bank shall not be responsible for any loss or damage to any person in connection with the Campaign howsoever arising, any breakdown or malfunction in any computer system or equipment, or any notice which is misdirected or lost in the post or in transmission.
- These terms and conditions shall be governed by the laws of Singapore and each participant in the Campaign irrevocably submits to the non-exclusive jurisdiction of the courts of Singapore. A person who is not a party to these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these terms and conditions.
- All information is correct at the time of publication.