HNB signs partnership with PPOD Consultancies for capacity building and advising SME clients
Sunday, May 29, 2022, 7:58 p.m. SL time, ColomboPage News Desk, Sri Lanka.
May 29, Colombo: Sri Lanka’s leading private sector bank, HNB PLC, recently signed a Memorandum of Understanding with PPOD Consultancies, a leading people and process assessment consultancy in Sri Lanka, to provide its SME clients with capacity development and management advice on key business functions.
The exclusive partnership gives HNB’s SME clientele access to essential advice in the areas of accounting, finance, tax, IT, value chain development, HR and other industry-specific capabilities. A special ceremony was held at the HNB Towers to sign the Memorandum of Understanding attended by HNB Deputy Managing Director – Retail and Small Business Banking, Sanjay Wijemanne, and PPDO Founder and Chairman, Stephen A. Paulraj.
“At HNB, we understand that to ensure the success of an SME, an entrepreneur needs much more than financial support and investment capital. Determining the success of a business, regardless of its size, depends on the ability of said entrepreneur to manage key business functions smoothly and efficiently. As HNB is a partner in all of its clients’ progress, we are delighted to announce that we have partnered with PPOD Consultancies to provide our SME clients with foundational capability development sessions and guidance to build and grow their SMEs with success,” says HNB Head of SME Products and Partnerships, Niluka T Amarasinghe.
The capacity development program initially covers general areas of business management and will be followed by a detailed session on specific business functions. Areas such as accounting, finance, tax and IT will be covered in addition to key practices around issues of cash management, investment for expansion, poor tax payment practices, poor investment , computer use, etc.
Once the initial stage is complete, clients will have access to a knowledge base that will help them develop business development plans, including expansion and exports, facility upgrades, HR and productivity and consolidations. The program content also covers key concepts such as cash flow management and its importance, ratio analysis, accounting and tax basics to further improve the financial literacy of entrepreneurs.
“As a leading consultancy helping many organizations get the most out of their people and processes, we are honored to undertake this partnership with HNB. Financial capital, although essential, is not the only criterion that determines the success of an organization. Helping entrepreneurs develop their capabilities and skills to build a sustainable business is a rewarding experience, and having a banking industry leader partner with us really strengthens our mission in the country,” says Stephen A. Paulraj, Founder and Chairman of PPDO.
The partnership offers HNB’s SME clientele access to the said development programs in any preferred language (Sinhala, Tamil and English) or in mixed mode, and the program will be led by experts and pioneers in the field who have successfully conducted similar sessions with HNB before. Details regarding this capacity development program can be found on the official HNB website.