HSBC Vietnam launches integrated receivables solution

April 21, 2011 | 17:34

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HSBC Bank (Vietnam) yesterday introduced the new Integrated Receivables Solution (IRS) to their customers, turning the HSBC’s customers in Vietnam to be the first in the Asia Pacific region to be offered this innovative solution.

The solution comprising of VirtualAccount,consolidated collection reporting and receivables advising enables to helpHSBC customers to manage their receivables more efficiently by improving visibility, transparency and information management.

“The overall purpose of cash management hasn’t changed: organisations want to have the cash they need in the right place at the right time,” said Puneet Gupta, head of Payment and Cash Management of HSBC Vietnam.

The HSBC’ IRS fully integrates all receivables transactions and summarises them into a single consolidated report for easy reference. This report can be downloaded, enabling simple system interface development and allowing customers to interface their treasury, Enterprise Resources Planning (ERP) or accounting systems with HSBC’s global Internet banking platform, HSBCnet, and host-to-host delivery channel, HSBC Connect.

Key benefits include the effective management of accounts receivable status across all business units in multiple countries and territories at anytime via HSBCnet; an expedited collection cycle and enhanced credit control. Invoice reminders and instant payment exceptions advices also help to minimise follow-up costs and sales outstanding.

By Van Ngoc

vir.com.vn

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