SCG Chemicals, a subsidiary of the Siam Cement Group, together with Siam Commercial Bank has developed an exportcollection programme to strengthen business transactions and serve rising export volume this year.
Apiradee Durongbhan, head of business services at SCG Chemical, said the firm would increase its annual export volume of highdensity polyethylene to 1 million tonnes this year, thanks to its new plant in Rayong province.
The company has given SCB the job of processing all export documents and money collection through a programme called Export Collection Excellence. She said this scheme would cut down the time spent on money collection from 15 days to only one day and reduce other export transaction costs 20 per cent.
Chemical sales generate 60 per cent of the parent group's income, and quicker money collection will help the group enjoy a better cash flow, she said.
Apiradee said the company projected this year's exports at Bt40 billion up from Bt25 billion last year, and therefore the back office, which deals with export documents, letters of credit, invoices, delivery schedules and money collection, should become more efficient.
"Many transactions take place when the export volume is large, and this programme will help speed up the process, so that money can be collected from clients quickly," she said.
Apiradee explained even though the programme was initially being tried out at SCG Chemical, other businesses in the group would soon participate.
Parnkae Nandavisai, executive vice president for global transaction services at SCB, said the bank would earn money from fees and SCG Chemicals' foreignexchange transactions and saw this as an opportunity to become a partner with exporters needing realtime transactions and quick orders from clients.
She said this programme would suit largescale exporters in the seafood, sugar, rubber and electronics industries.
