At HSBC, we understand how important accounts receivables management is to your business. The faster you can convert your receivables into cash, the more control you have over your cashflow and working capital management.
Receivables management is a dynamic process, encompassing a broad spectrum of collection instruments and diverse local clearing systems.
HSBC delivers tailor-made outsourcing solutions for cheque and other physical receivables, reducing collection float and accelerating funds availability, which allow you to concentrate on your core business activities.
With diverse local clearing practices, identification of payors can be a significant challenge for receivables reconciliation processes. Our VirtualAccount solution ensures a higher 'hit ratio' within your reconciliation process by providing:
Prompt identification of payors regardless of the quality of information attached to the collection
Automatic crediting to the relevant beneficiary account with details shown on the statement narrative