Looking for a bank that fits the Japanese standards?

When Japanese entrepreneur Mr. Hayato Yazaki came to the Philippines to set up his business, he looked for a bank that fits the Japanese standards for a good partner. Mr. Yazaki runs Izumi Global, an education company that provides after-school learning using the Nippon Math method for children ages 3-11 years old. It also provides licensing and has more than 10 branches. 

Mr. Yazaki asked from among the Japanese community in Makati about the local banks, so he could choose one that fits his needs. After picking out one Philippine bank, he started his relationship with it by opening a personal bank account. This was so he could experience for himself whether or not the bank lives up to its reputation. 

Trust and reliability, he said, are very important. These values are part of the Japanese mindset and are considered crucial when engaging in a long-term commitment. Mr. Yazaki, however, added he goes beyond these considerations, as he also looks into speed, overall performance, even the personality and attitude of the people he deals with. 

The bank he chose was BDO. Mr. Yazaki said that he appreciates BDO customer service in the Philippines. “Ms. Lyn Lazona and Ms. Hiromi Shimoda of the Japan Help Desk are always a message away. If we have questions or asked for a meeting, they are always quick and willing to oblige. I think being under the Japan Help Desk really made the service speedy and convenient for us since they know Japanese expectations and requirements.” 

A reliable partner during the lockdown 

When the pandemic struck and the quarantines and lockdowns were imposed, Izumi Global faced a lot of challenges. They had to quickly convert to online classes as children are not allowed to go out. The company also had to consider their licensees/franchisees, whose income also depends on their support. 

To answer the needs of both their students and franchisees, Izumi Global had to secure a shipment of educational materials. Mr. Yazaki didn’t think this was still possible due to the constraints brought about by lockdown but to his surprise, BDO’s Ms. Lyn went out of her way to help him secure the shipment. “We were expecting that the documents would be delivered through courier. Instead, Ms. Lyn went through that extra effort that meant a lot to us. If no one assisted us with the requirements, the shipment will be abandoned and we cannot get our study materials. We almost had to cancel the online program for the students.” 

According to Mr. Yazaki, his bank made sure that even during the lockdown, their transactions proceeded at a nearly normal pace. While some transactions were a bit slower, they made up for it with convenience by shifting the processes online. For him, the confidence he places on BDO and their relationship is well-deserved and meets his exacting ideals as a Japanese client. 

For more information on how BDO can help your business in good times and bad times, visit www.bdo.com.ph/keepbusinessmoving.

Crisis or not: Cash Management Services help business thrive during pandemic

Small and medium enterprises (SMEs) serve as the lifeblood of the economy. Thus, support for these enterprises is essential to keep the economy going.

One of these businesses is that of Alex Ong, who operates Transorient Container Terminal Services (TCTS), a customs bonded warehouse, and trucking service. Essentially, TCTS acts as an extension of port storage services outside of the ports themselves.

Mr. Alex Ong, who owns Transorient Container Terminal Services (TCTS), said BDO’s cash management services allowed his company to continue its operations despite quarantines. 

Knowing how valuable it is to ensure smooth and speedy operations, Alex applied for BDO Unibank’s Cash Management Services’ (CMS) suite of offerings, including SME Business Online Banking.  This helped TCTS run smoothly and continue operations despite the disruptions caused by movement restrictions and social distancing regulations, resulting from the pandemic.

Essential business partners

Ong points out that during a crisis, like what happened when the pandemic hit and the government was forced to declare an enhanced community quarantine (ECQ), it is vital for essential businesses to work together.   In the case of TCTS, the help it got from BDO allowed the company to continue its operations.

Ong said that he was very concerned about their messengers who still had to go to banks and other premises to collect or deliver checks so he instructed his staff to shift to online transactions.

Employees of TCTS observe healthy and safety protocols to ease the spread of COVID-19. 

His next dilemma was how to continue operating as close to normal as possible. According to Ong, BDO’s cash management services allowed him to resolve both the issue of safety and business continuity, as his company was able to make payments to shipping lines, port management companies, suppliers, and other billers using BDO's e-payment facility.

TCTS warehouse in Sta. Ana, Manila

"ICTSI made it mandatory for clients to pay online. So it's good that we already have the SME Business Online Banking facility of BDO," Ong explained. Soon, he hopes to activate the online collection facility so that TCTS would be able to collect payments online as well, from their consignees.

Relying on CMS

Cash Management Services involves managing the flow of funds in an organization or business. Every business has collection and payment needs which if not managed may cause funds to be misplaced, lost, or untracked.

A CMS provider becomes a key partner in terms of assistance in the management, tracking, and reporting of funds so he can focus on running the business.

In the case of Alex Ong, it was easier for them to adapt to BDO’s cash management services because they were already transacting online with the port management companies. TCTS is a good example of how openness to change, new technologies, and new processes can benefit a business.  It also shows that having the right bank partner helped them thrive during a crisis. 

For more information on BDO’s Cash Management System, call (632) 88407500; email cms-sme@bdo.com.ph; or visit www.bdo.com.ph.