Daily fund-tracking task that once took hours now automated

Webcash Vietnam said Monday it has supplied its WeCMS cash management solution to Mirae Asset Securities Vietnam. [Webcash Vietnam]
Webcash Vietnam said Monday it has supplied its WeCMS cash management solution to Mirae Asset Securities Vietnam. [Webcash Vietnam]

Webcash Vietnam, the Vietnam unit of Webcash Global, has supplied its cash management solution WeCMS to Mirae Asset Securities' Vietnam subsidiary, marking a positive step in the company's push to build ties with local financial institutions.

The company said Monday the deployment was driven by the need to automate Mirae Asset Securities Vietnam's repetitive task of collecting and consolidating account data from multiple banks. The solution allows the firm to manage cash positions across all its bank accounts through a single system.

WeCMS is a corporate cash management solution tailored to the financial environment of businesses operating in Vietnam. It provides a unified view of balances and transaction histories across dispersed accounts on a single screen, and integrates fund disbursement and ERP-linked functions within the same platform.

As Mirae Asset Securities Vietnam's business grew, staff responsible for cash management had been spending three to four hours each day logging into each bank's internet banking portal to check account balances and transaction records before manually compiling the data.

Since adopting WeCMS, those manual tasks have been automated, freeing cash management staff to focus on higher-value work such as fund operations and risk management. Senior executives can now also view the company's full cash position in one system when making financial decisions.

"Accurately grasping our cash position is fundamental to the stable operation of a financial firm," a Mirae Asset Securities Vietnam official said. "With WeCMS reducing the burden of data collection, we expect to devote more resources to fund operations and risk management."

Lee Jae-hwan, head of Webcash Vietnam, said the deployment was significant because WeCMS had been applied to the operations of a financial firm where a high level of cash management capability is required. "We will continue to expand our ties with financial institutions in Vietnam to help companies manage their financial information more efficiently," he added.

Meanwhile, Webcash Vietnam earlier this year signed an MOU with VNPT E-Pay, a Vietnamese electronic payments specialist, to actively pursue digital financial transformation projects targeting small and medium-sized enterprises in Vietnam.

Under the partnership, the two companies are jointly developing an integrated B2B fintech service that links VNPT E-Pay's point-of-sale system and payment gateway service with Webcash Vietnam's electronic tax invoice solution WeTax. The collaboration is expected to build a service structure covering payments, tax administration and cash management, boosting operational efficiency for Vietnamese small and medium-sized enterprises.


igiza77@heraldcorp.com