1. Consolidation | Achieving consistency in Asia Pacific
Blackmores Group consolidated accounts in Asia Pacific (excl China) to one primary banking partner, HSBC, who provided a single, consistent package of liquidity and cash management solutions to enable greater process efficiency and ease of reporting.
2. Connectivity | Efficient STP payments and easy reconciliation
Blackmores established host-to-host connectivity with HSBC for increased efficiency and economies of scale. This allows straight-through-processing (STP) of payments through a single XMLv3 file from their Oracle ERP system for multiple payment types, and easy reconciliation via MT940 statements.
3. Optimisation | Regional balance collectively considered to enjoy better yield in all markets
A regional Interest Enhancement (IE) solution was implemented for Blackmores. IE allows Blackmores to enhance yield on credit balances, as interest is based on a total relationship balance across eligible markets. There is no movement of funds, which all remain in their original currencies. All interest is calculated and, where allowed, applied in the original currency of their respective accounts.
4. Centralisation | Real time visibility and proactive control at your fingertips: for all markets
HSBC’s innovative Liquidity Management Portal (LMP) provides Blackmores with a single, central platform for all Asia Pacific cash and liquidity management activities via HSBCnet. This digital platform takes Blackmores’ experience to the next level by giving real-time visibility on cash and liquidity balances, which Blackmores can actively administer through the LMP’s self-servicing tools.