13 Mar 2017
With an innovative financial management solution, Chinachem Group was awarded Best Cash Management Solution at the Adam Smith Awards Asia 2016 organized by Treasury Today, an international media outlet. This is the first time that the Award went to Chinachem Group. Award winners in previous years include Hitachi Data Systems Corporation, Quantas Airways and Adidas Group, etc.
Chinachem Group uses technology to enhance management efficiency. Last year, the Group partnered with DBS and created over 200 virtual accounts for each of their property companies in order to streamline the workflow of management and rent collection. The solution also linked all virtual accounts to one physical account, which optimized account management, lowered the manpower cost and improved the collection and settlement process.
At the Awards ceremony, Ken Wong, Treasury Manager of Chinachem Group, said that the Group was honored to receive the award with the help of DBS. "DBS has been working with the Group to provide a full range of financial services. Winning the Award is a milestone success for both DBS and Chinachem Group in their long-term relationship," Wong said.