Banks play vital role in business success

By Thy An   October 29, 2023 | 07:00 pm PT
Banks' support motivates businesses, particularly young ones in the Vietnamese market, to navigate challenges and expand by leveraging strengths from various parties, in the way that Techcombank accompanies FRIWO.

FRIWO was founded in 1971 in Germany, specializing in high-quality power supplies and charging equipment that are designed to meet a very wide range of technical and country-specific requirements. It also provides exclusive electronics manufacturing services for German car manufacturing enterprises.

Since entering the Vietnamese market in 2015, FRIWO Vietnam has marked impressive milestones, with the ability to meet large orders from reputable partners including Bosch and Phoenix.

Artur Petrosjan, General Director of FRIWO Vietnam, and Nguyen Duc Long, Chief Financial Officer, have reaffirmed a journey of efforts and the bank's companionship in their achievements and breakthroughs.

According to Artur Petrosjan, FRIWO has grown to four factories in AMATA industrial park, with nearly 2,500 employees. Together with this progress, the company has had remarkable growth in revenue as well as contributions to local social security.

"Looking back on this journey, it is clear that during the development of FRIWO, we have had great companionship with Techcombank," he said.

The bank has provided FRIWO with great support in capital, with preferential costs and great utilities on all financial services, which helped boost its confidence in meeting not only German but also worldwide orders.

In addition, through digital banking applications, FRIWO has not only reduced costs and resources but also gradually transformed with digitalization.

Artur Petrosjan (L), General Director of FRIWO Vietnam. Photo courtesy of Friwo

Artur Petrosjan (L), General Director of FRIWO Vietnam. Photo courtesy of Friwo

In terms of transforming digitally with banking transactions, Petrosjan stated that digital transformation has helped them save a lot on operating and staff costs.

Over the past few years, FRIWO has faced many difficulties with direct transactions. Thanks to digital transformation, starting with flexible financial transactions, it can be assured of continuous, digitized operations.

Before, accountants had to go directly to the bank to make transactions. Now everything can be done at Techcombank Business Digital Bank.

Not only domestic transactions but also overseas transactions and foreign currency exchange have become easier with much more reasonable fees, and some services are even free of charge.

Business owners may no longer have to struggle with large accounting documents, thanks to digital signatures with great security.

Nguyen Duc Long, Chief Financial Officer of FRIWO. Photo courtesy of FRIWO

Nguyen Duc Long, Chief Financial Officer of FRIWO. Photo courtesy of FRIWO

One of the most impressive aspects of Techcombank’s digital banking solutions is that it is in constant transformation.

From F@st EBank for businesses to Techcombank Business Digital Bank, this is a new step forward for users.

According to CFO Long, it is an impressive achievement for the bank to serve and improve the experience for businesses.

"In particular, Techcombank implements comprehensive solution packages for businesses in digital banking, such as BusinessOne, with great incentives and conveniences," he said. "Currently, Techcombank's website or app provides great support to users, helping FRIWO feel comfortable with their transactions."

Techcombank Business Digital Bank, which is integrated into phones, has been of great help for businesses to transact anytime and anywhere.

Talking about the benefits that Techcombank's digital transformation has brought, Long said that the bank is making significant investments in the process.

In fact, their dedication and investment have paid off. Its most recent step towards businesses is upgrading the digital platform for businesses and constantly integrating outstanding features and utilities.

From everyday transactions to credit to issuing letters of guarantee, Bao Loc certificates of deposit can all be done on the digital bank.

And businesses are naturally beneficiaries of digital platforms. Free transactions, minimizing operations, granting available credit limits, and disbursement processes carried out on Techcombank Business have made cash flow management easier and more effective.

"With dedicated and industry-savvy financial consultants, Techcombank has become our companion for years in all banking transactions, and we are very satisfied with its current services," Long added.

With the companionship of a leading bank in Vietnam like Techcombank, the leaders also stated the challenges and achievements they had.

To accommodate the large volume of orders transferred to FRIWO Vietnam by the headquarters, the company needs to provide quick and continuous working capital sources along with consulting to manage cash flow effectively.

Thanks to Techcombank, the business is confident enough to complete missions and tasks assigned by the group and reach new heights.

"As you can see, we have a journey ahead, and for sure, the companionship of a strong financial partner will give us more confidence and internal strength. As it is often said, if you want to go far, go together, and this is indeed true in the story of banks and businesses," Long said.

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