Since launching its new payment solution in November 2020, DKSH has seen a host of benefits. First, it has transformed the customer experience, delivering a smarter, faster, friction-free service. Second, the new solution automates certain key steps in the payment process, allowing DKSH’s finance teams to operate more efficiently. Those steps include an in-built real time API enabled credit notification feature, and the automatic posting of payment entries onto DKSH’s SAP-based Enterprise Resource Planning platform.
At the same time, the payment solution can generate hourly consolidation reports, removing the need for teams to conduct tracking and reconciliation manually.
Now, building on this success, DKSH is working with HSBC to enhance its receivables capabilities by adopting the rest of HSBC Omni Collect features and expanding the payment solution to other markets in Asia Pacific. This one-stop collection solution is designed to help brick-and-mortar stores, kiosks, e-commerce and m-commerce sites to streamline digital collections across different channels, including QR code payments, card payments and e-wallet transactions. Besides offering companies a consolidated view of their payment collections, Omni Collect simplifies the reconciliation process and enhances the customer experience.
Priya Kini, Head of Global Banking, Singapore, HSBC said: “Digitising the collections process remains one of the major concerns for treasurers. That is why we continue to invest in developing innovative solutions like Omni Collect to support our customers’ transformation journey. We are pleased to be able to support DKSH in their optimisation and transformation agenda.”
In Singapore, HSBC has observed an increase of over 300 per cent in real time payment volumes during the course of 2020, compared to the same period in 2019, signally a shift in consumer behavior that is increasingly more receptive to paying digitally.