- The company is a global professional services company that specialises in strategic and technological consulting.
- In the Philippines, the company’s employee payments were being handled via a bilateral agreement with a local bank. Maintaining this agreement had gotten costly due to pricing hikes that the local bank had applied for its services. The local bank’s systems had also experienced repeated outages, which meant that employees did not always receive payments on time. This compelled the company to seek a banking partner that was capable of handling a large volume of payments on a regular basis.
Transformation & Success
- They launched a global initiative to move all handling and processing of all employee-related payments such as payroll, and travel & entertainment (T&E) reimbursements to a standardised global platform. This was in order to achieve greater operational and cost efficiencies. It naturally had implications on the company’s operations in the Philippines, as it necessitated a re-engineering of their payments processes.
- Strong collaboration was required to get the company to be an industry mover by using the PESONet clearing system as a means of fund transfer to employees. Through the new process, the company uploads payment files through their enterprise resource planning system, which are received by HSBC through a host-to-host connection.
- HSBC now helps the company make an estimated 38,000 transactions a day via the PESONet solution, making the company one of the platform’s largest daily users from the private sector.
Click to download the full case study
This document is issued by The Hongkong and Shanghai Banking Corporation Limited (“HSBC”).