United Parcel Service Sdn Bhd (UPS) is focusing on small- and medium-sized enterprises (SMEs) to promote its business solution, known as synchronised commerce.
With the synchronised commerce business solution, producers only need to use the resources required to meet customer demand. Intermediaries, such as merchant, transportation carriers, suppliers and governmental agencies, are taken care of by UPS.
Managing director Gillian Sim said the solution reduces the risk for the exporters because goods are not delivered until payment has been received by UPS.
In the past, payments were completed manually as each cheque was processed, posted and matched to the corresponding invoice before it was deposited into the bank. This could take 14 to 90 days to clear.
