s an international bank with broad and deep global networks, HSBC always strives to provide innovative solutions to any challenge that may be hindering companies and their customers progress toward achieving business success in this fast-paced, technology-driven world.
The current global slowdown and geopolitical uncertainties remain among the top barriers facing ASEAN entrepreneurs looking to expand their businesses to the region’s markets.
That is why HSBC has introduced its innovative digital invoice and payments solutions, HSBC TradePay and HSBC Omni Collect.
The digital payment solutions are quick, easy and convenient, and are designed to cater to the needs of both companies and their customers, thereby enabling business owners to focus more on growth.
For example, using TradePay to complete transactions will result in immediate drawdowns and receipt of payments from suppliers, without the need to submit additional documents to have your loans processed. This means having speedy access to funds when you need it.
HSBC TradePay has everything in one place, as financial and payments data are fully integrated into HSBCnet, a single platform that gives you total visibility of your finances at any time and any place.
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TradePay offers a facility from which you can reap many benefits, including more time for more growth. The one-step digital process replaces the hassle of loan paperwork, giving you more time to focus on strategy and expansion for your business while enhancing supplier relationship.
When it comes to working capital, HSBC TradePay offers quick access to working capital finance to cover the costs of your business. Its seamless, on-demand service aligns cash outflows with your production schedule, ensuring your business’s smooth operation to meet the demands of new orders.
If you want your customers to have flexible payment options, HSBC Omni Collect comes complete with multiple payment options, including cards, e-wallets, bank transfers and QR codes for e-commerce, m-commerce and over-the-counter payments.
HSBC Omni Collect can help you monitor online transactions in real time, consolidate your reporting, whether during or at the end of a day, and have a unified view of all your daily business transactions.
The benefits of using HSBC Omni Collect includes not only scaling across markets as well as onboard multiple markets at once with the HSBC’s single application programming interface (API), but also simplifying collections and reducing administrative work.
These are in addition to increasing customer satisfaction and receiving funds instantly.
Business expansion
A recent HSBC survey of over 3,500 international companies with a commercial interest in ASEAN found that a staggering 91 percent were planning further expansion in the region.
The 10-member South-east Asian bloc has grown in importance in recent years.
According to a report, ASEAN economies expanded between 2010 and 2022 at an average of 4.4 per cent, pushing their aggregate gross domestic product (GDP) to US$3.6 trillion, exceeding India’s GDP of $3.5 trillion.
When treated as a single unity, ASEAN’s GDP ranks fifth globally, after the United States, China, Japan and Germany.
In 2023, the region once again proved its resiliency with strong domestic demand, easing prices and improving export demand.
Indonesia serves as a gateway to ASEAN’s 680 million people. It is also a hub for regional and international markets with 35 trade agreements, including the Regional Comprehensive Economic Partnership (RCEP), the largest trade pact which includes Australia, China, Japan and South Korea.
HSBC, your partner
As a global bank operating in Indonesia for 140 years, HSBC has not only the presence and operational expertise, but also tacit knowledge and thorough understanding of how to tap into prospective sectors in the country.
Beyond Indonesia, HSBC has a similar presence across the ASEAN region, where it has over 135 years of experience. HSBC fully understands that Southeast Asia is no monolith and not a place for a one-size-fits-all approach.
HSBC’s strong network of over 15,000 employees across 200 locations covers 93 per cent of ASEAN’s GDP, providing a strong platform for secure and efficient international transactions.
HSBC also has dedicated ASEAN desks in China, France, Germany and the United Kingdom to help international investors with their forays into the region.
HSBC TradePay and HSBC Omni Collect are the latest solutions so you can move forward with your company’s ASEAN expansion plan.
Source:HSBC
