Webcash Vietnam, a subsidiary of Webcash Global, announced on the 30th that it supplied the fund management solution WeCMS to Hansung Bolt Vina, a Vietnamese production subsidiary of Hansung Bolt.
Key points
•The adoption of WeCMS reduced the time required to prepare the daily fund statement from 4–5 hours to under 10 minutes.
•It is possible to track fund flow and approval status in real time within a single system.
•Internal control over the fund execution process was strengthened through corporate banking linkage and role separation.
Webcash Vietnam aimed to automate the tracking of fund status for Hansung Bolt Vina, which handles many small-volume, diverse transactions, through the supply of this solution. It also supported the integrated management of approval and fund transfer tasks, which were previously handled manually, within a single system.
WeCMS is a solution that integrates fund management for medium and large enterprises in Vietnam. It supports revenue and purchase management, fund flow monitoring, and corporate card usage tracking in one system by linking with local banks, the National Tax Service, and accounting systems.
Hansung Bolt Vina reported that after adopting WeCMS, the time required to prepare the daily fund statement was reduced from 4–5 hours to under 10 minutes. The reporting time was significantly reduced because the system automatically compiled the fund status, which was previously collected by staff manually.
This system allows real-time tracking of fund flow and approval status by linking approval information and financial data. Furthermore, it enhances internal control by processing fund transfers through corporate banking linkage and separating the roles of staff and approvers.
Hansung Bolt is a fastener specialized manufacturing company established in 1969, and established its production subsidiary, Hansung Bolt Vina, in Bien Hoa, Dong Nai province, Vietnam, in 2016. Webcash Global is responsible for the overseas business of Webcash Group, providing B2B financial solutions specialized for the Asian market.
