28 October 2016

Is your payment process limiting your business?

With globalisation and an increasingly complex business environment, having an efficient and centralised payment system is vital to any multinational's success. Recognising this, we at HSBC are proud to have successfully connected to Treasury Intelligence Solutions (TIS) in Asia for automated payment and bank statement processing.

Contact us

Customer Service and Technical Support

Tapping into our extensive integration experience, such as the one withTIS, companies are able to uplift their operations for more automated payment and bank statement processing.The result? A cost-efficient, transparent and complete overview of your business's liquidity and cash flow.

More security and ease of transformation

To ensure security, we connected toTIS through Host to Host (H2H) Secure FileTransfer Protocol (SFTP). This results in lower manual intervention with higher process automation. SFTP provides secure file transfers and assures that both parties know who they are exchanging data with. A misconception among businesses is that moving from a decentralised payments processing system to a centralised version is difficult, time consuming and contributes to business disruption.Fortunately, this is untrue.

Challenges with a decentralised process

As a business grows and expands into overseas markets,it faces complexities in managing an increased volume of payments. With decentralised structures, it is difficult for a business to monitor and control all account movements on a daily basis, because of the tendency for each country  unit to have its own payment cycle and process through several different Enterprise Resource Planning (ERP) systems.

This was a problem for our client, Netherlands-based Fugro Group, an international geophysics and geotechnics company, which did not have a central treasury department until Group Treasurer Simon Karregat established one in 2014. The Group had numerous ERP systems connected separately to the local banks via several e-banking tools.

"The only transparency during this time stemmed from the monthly reports," recounts Karregat. "As a result, we did not get a full picture until the reporting process was completed."

Another  challenge is that often times, it falls on the shoulders of information technology (IT) departments to develop special payments solutions for individual countries, which stretches limited resources.

Moreover, another big expenditure involves bank fees, which result from having numerous accounts across various countries.

TIS benefits

There are multiple cost-savings associated to utilising TIS. IT departments are no longer plagued with developing country-specific payments software. A centralised platform also eliminates the need for numerous bank accounts, which reduces costs.

"With this system in place, we can now utilise a standard payment process for the entire world. This saves us a lot of IT and ERP maintenance expense,” the group treasurer explains. Because of its initial success, Fugro has been connected to the TIS platform with HSBC's help and rolling it out worldwide since 2015. HSBC's integration and project management ensured efficient and successful transformation.

Additionally, the deficiencies in transparency, monitoring and control are overcome by TIS' automated 'straight-through-processing', which streamlines several ERP systems into a central payments platform.

"With TIS, we have a central overview of worldwide payments and now just use one platform instead of different banking tools," explains Karregat.

HSBC's key involvement

Over the last decade, with increased compliance and technology evolutions, our client management teams saw the need to advance and provide additional advisory services and consultancy to help our clients keep up. This was the case for the Fugro project. We provided local expertise on payment rules, best practice payment process and ERP setup. Naturally, HSBC's integration consultant collaborated with the remote TIS project team to provide the best outcome for Fugro.

"We have reached a unique milestone in Fugro. With great enthusiasm and dedication, we managed to have our payment entered in our ERP routed via TIS directly to the bank. This new setup will result in significant time saving on our operations as well as IT systems maintenance," praises Karregat.

Rohit Joshi, Managing Director for HSBC Global Liquidity and Cash Management also highlights this significant achievement: "I am very pleased with the smooth and quick execution of this pilot project to integrate with the TIS platform undertaken by Fugro and TIS with HSBC in Asia Pacific. The critical success factor is the collaboration across borders between the teams involved in the project. It is a testament of HSBC's ability to collaborate across borders and deliver value by helping corporate treasury realize its return on technology investments quickly. The success of this pilot project lays the foundation for similar projects with other corporate clients implementing TIS in future."

After the successful integration of TIS with Fugro, HSBC further refined its processes in subsequent TIS projects (by incorporating a streamlined onboarding process).

About TIS

TIS is the leading cloud platform for managing corporate payments, liquidity and banking relationships worldwide. The company delivers smart payments to help customers make better decisions. TIS enable companies to make more efficient, more secure and more cost-effective payment transactions. In addition, TIS enables customers to make better decisions when analysing financial and operational performance based on real-time payment flows. All mission-critical processes related to payment transactions are integrated into a multibank-capable, audit-proof cloud platform. This is a single point of contact for enterprise customers when managing and analysing their payment flows across the organisation. TIS take care of managing various payment formats, communication channels with banks, and ERP-agnostic integration. Offered as Software as a Service (SaaS), the ISO certified TIS solutions are quickly up and running without the complexity and cost of a long IT project. For more information, visit: http://www.tis.biz/en/

The document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

The information contained in this document is derived from sources we believe to be reliable but which we have not independently verified. HSBC makes no representation or warranty (express or implied} of any nature nor is any responsibility of any kind accepted with respect to the completeness or accuracy of any information, projection, representation or warranty (expressed or implied) in, or omission from, this document. No liability is accepted whatsoever for any direct, indirect or consequential loss {whether arising in contract, tort or otherwise) arising from the use of or reliance on this document or any information contained herein by the recipient or any third party. If you seek to rely in any way whatsoever upon any content contained in this document, you do so at your own risk.

This document does not constitute an offer or solicitation for, or advice that you should enter into or start using, any of the arrangement, product, service or modes of payment infrastructure mentioned in this document. Recipients should not rely on this document in making any decisions and they should make their own independent appraisal of and investigations into the information described in this document. No consideration has been given to the particular business objectives, financial situation or particular needs of any recipient. Any examples given are for the purposes of illustration only.

No endorsement or approval of the appropriateness of any third parties or their advice, opinions, information, products or services is expressed or implied by the inclusion in this document of any information relating to a third party.

No part of this document may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC.

Copyright ©The Hongkong and Shanghai Banking Corporation limited 2016.

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

You are leaving the HSBC CMB website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.