Asset World Corp Public Company Limited (AWC), a Thai real estate developer focused on comprehensive lifestyle solutions, has teamed up with Siam Commercial Bank (SCB) and Digital Ventures to enhance the supply chain of the Thai real estate industry through blockchain technology. They are introducing the B2P (Blockchain for Procure-to-Pay) platform, a comprehensive digital procurement solution that connects AWC's supply chain network, supporting digital procurement and payment processes throughout, reinforcing sustainability with precise, transparent, and verifiable technology. Additionally, the SCB Supply Chain Financing service will provide liquidity to businesses on the B2P platform, allowing them direct access to financial loans from the bank, focusing on passing on sustainable value to the supply chain network with an efficient, all-encompassing platform.

Naowalapa Traisorat, CEO and Managing Director of Asset World Corp Public Company Limited (AWC), stated, "AWC is very pleased with this collaboration with Siam Commercial Bank and Digital Ventures, which brings blockchain technology to address project development needs, strengthening the Thai real estate sector to grow effectively and rapidly. This is a significant step for the real estate industry in its digital transformation, as AWC is committed to continuous improvement under its Corporate Transformation plan to enhance strength and efficiency in collaboration with partners across all sectors through Digital Transformation. By implementing the B2P platform in procurement and vendor payment processes, we enhance efficiency, convenience, speed, safety, transparency, and accuracy, reducing verification time and boosting confidence among AWC's partners while creating a strong partner network throughout the value chain, thereby elevating the overall business operations of the Thai real estate industry."

Dr. Yanyong Thaicharoen, Senior Executive Vice President and CEO of the Wholesale Business Group and Senior Executive Vice President and CEO of the Wealth Business Group at Siam Commercial Bank, said, "Enhancing products and services by integrating technology to create change in business processes and sustainability for our clients is a top priority for the bank. The B2P platform remains the first and only blockchain platform revolutionizing procurement and vendor payment systems in Thailand. Siam Commercial Bank and Digital Ventures have continuously developed it to best meet the working processes of each client in different industries. This is another significant step for the B2P platform, which has gained the trust of AWC, a leading real estate developer in the country, recognizing the importance of integrating digital solutions into their operations to enhance efficiency and competitiveness for AWC in the long term, while also playing a crucial role in elevating business operations in the Thai real estate industry, thanks to the transparency and reliability of blockchain technology. The bank has also integrated sustainable finance concepts with the SCB Supply Chain Financing service to help businesses on the B2P platform manage their working capital flexibly before payment due dates without requiring collateral."

 

Mr. Orpong Tiengien, CEO of Digital Ventures Co., Ltd., stated, "The B2P platform has been developed to be adaptable to the specific systems of each client. AWC's real estate business has a uniquely complex procurement process and involves numerous related supply chains. The B2P platform can help reduce the complexity of document management, making it more efficient, transparent, and capable of supporting procurement for AWC's partners across all types, both corporate and individual, with a wide range of payment systems. It can also connect to the organization's internal resource management system (ERP), featuring a Digital Onboard system that allows suppliers to onboard quickly and easily, along with the SCB Business Net, a digital banking platform for the bank's business clients, enabling seamless payment and loan requests for partners 24/7. It has already been recognized for saving time and resources by over 50% since its first year of use. Currently, the B2P platform is accepted by leading businesses in Thailand, with over 20,000 registered supply chain networks using the system."

B2P (Blockchain for Procure-to-Pay) is the world's first comprehensive digital procurement platform built on a Private Blockchain, developed by Digital Ventures Co., Ltd. Its goal is to enhance the procurement process for private sector organizations with extensive supply chain networks, covering everything from ordering goods to the final payment process through banks. The system allows all stakeholders involved in the procurement process to view transactions at each step simultaneously and verify various documents such as purchase orders, delivery receipts, and invoices automatically, making the entire process efficient, fast, and significantly cost-effective. Additionally, partners can conveniently and quickly access SCB Supply Chain Financing from Siam Commercial Bank through electronic channels at low financial costs. Currently, B2P is recognized by businesses across various industries both domestically and internationally.