Yonyou Launches TMS Cloud in Hong Kong, Empowering Multinational Enterprises on Global Treasury Management

Mr. Bowen Guo, General Manager of Yonyou Hong Kong, pointed out that Yonyou has been serving Chinese enterprises treasury management for over two decades, connecting 1,700 domestic and foreign banks with enterprises and helping more than 10,000 conglomerates to operate treasury efficiently. However, for Chinese enterprises going global,  treasury management is restricted by local policies and regulations, derailing the globalization in business.

Yonyou is the transformational leader that rebuilds an innovated and digitalized financial ecosystem, supporting Chinese enterprises to expand internationally. The newly launched TMS Cloud will help Chinese enterprises to set up a global treasury center in Hong Kong, which takes advantage of the metropolitan’s role as a bridgehead of China’s ‘domestic-international dual circulation’ and accelerates the development of ‘headquarters economy’ to achieve one-stop treasury management with real-time visibility. In terms of connectivity, TMS Cloud will adopt cutting-edge technologies like robotic process automation (RPA), directly connecting banks and enterprises with open application program interfaces (API) of banks. With the broad network of Chinese banks, TMS Cloud assists Chinese enterprises to establish the global cash pool for easier cross-border transaction.

Managing global treasury efficiently is hard not only for Chinese enterprises ‘going out’ to other countries, but also for foreign-owned companies ‘coming in’ China’s market. Today, a large number of overseas companies, including local companies in Hong Kong, still adopt the ‘twin headquarters, twin treasury centers’ strategy for treasury management in mainland China. According to Mr. Guo, when investing in mainland China, overseas companies are not familiar with the products and services of domestic banks, creating the ‘last mile’ of treasury management in China that most multinational enterprises cannot go through. Meanwhile, TMS Cloud demonstrates strong multi-bank connectivity, empowering overseas enterprises to manage treasury inside and outside China. Yonyou will also launch TMS-API for global treasury center to manage all bank accounts in China.

Through TMS Cloud, multinational enterprises can obtain safe and reliable payment channels, optimize payment process, significantly reduce costs of building IT system, and reconciliate global accounts and transactions in real time. TMS Cloud boosts the overseas business expansion for multinational enterprises and makes global treasury management smart.