The 3rd International Factoring and Supply Chain Finance Conference and the 6th China Commercial Factoring Financing Cooperation Conference was successfully held in Shenzhen on January 7 - 8. SY Factoring Limited (“SY Factoring”), a subsidiary of SY Holdings Group Limited (“SY Holdings” or the “Company”, stock code: 6069.HK), was invited to participate at the event, and was awarded the 2021 Annual Factoring Industry Contribution Award and Social Responsibility Outstanding Contribution Award in recognition of its outstanding contribution to the industry and its social responsibility performance. Mr. Chen Jen-Tse, Jerry, Executive Director of SY Holdings, delivered a speech at the forum.
In the new economic development landscape, SY Holdings strives to empower supply chain finance and address the industry pain points with digital technology. During his speech, Mr. Chen Jen-Tse, Jerry, concluded that: “First, we are focused on helping small, medium and micro enterprises (“SMEs”) tackle their funding difficulties, including limited access to funding channels, high funding cost and tedious offline application procedures. Second, we help our core enterprises clients improve their information management capabilities. Lastly, we also facilitate financial institutions to acquire premium SME clients and provide them with better information management solutions to enable stronger risk management.”
Meanwhile, to provide better solutions for the development of inclusive finance, SY Holdings has stepped up its research efforts on Internet of Things (“IoT”) and software-as-a-service ("SaaS") since last year, acquiring transaction data through industrial technology, creating value with data, to enable accurate customer acquisition and enhance risk management.
Mr. Chen Jen-Tse, Jerry, elaborated on the innovative digital solutions SY Holdings has delivered to its clients this year.
“First, for smart construction site solutions, our offerings enable intelligent and tech-driven management, which is now a major and inevitable trend in the infrastructure sector. We have worked together with selected core enterprises to develop solutions on smart construction sites that feature efficacy of onsite safety management, facial recognition and quality control of transaction data. The solutions can significantly enhance the overall project management for core enterprises, and we can get real-time transaction data to strengthen our risk management. Meanwhile, we also provide a better financing timing for SMEs.”
“In terms of medical supply chain management, cost control is now a key focus for hospitals after several years of healthcare reforms, and the best way of managing cost for hospital lies in the management of drugs and medical consumables. We work together with core enterprises in the medical sector to provide medical SPD solutions to hospitals and assist them to improve the overall management of their drugs and medical consumables, including the matching of warehouse inventory and orders. Our SPD solutions can help hospitals achieve better cost control, and enable core enterprises to provide better services for hospitals. This approach also brings us more real-time data on orders, goods delivery and inventory, thus helping us achieve better risk control.”
At the end of his speech, Mr. Chen Jen-Tse, Jerry, shared his views on the value that industrial technology can create in the future.
Mr. Chen Jen-Tse, Jerry, noted, “First of all, data-driven management lays the foundation for our risk management digitalization. Transaction data allows us to better monitor SMEs in real time and improve our risk management. Second, we are well integrated into the whole industry chain, which enables us to better monitor and understand the data within the industry chain, from order delivery, placement, and shipment to payment collection. Furthermore, we have connected with more third parties, including governments, logistics companies and the national tax authorities, so the transaction process is no longer limited to the buyers and sellers, therefore allowing us to have a more comprehensive profile of the transaction. Thanks to the multi-dimensional third-party data, we can cross-validate and verify the authenticity and rationality of transactions more efficiently.”
Mr. Chen Jen-Tse, Jerry, added, “Data collection and analytics technologies offer us a number of advantages. First, it allows a more accurate customer acquisition and helps us understand the needs of SMEs and core enterprises more easily. Second, data insights can help us improve our risk management. Third, our collaboration with core enterprises enhances our customer stickiness, thereby allowing us to scale up our business more efficiently.”
