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Integrated Receivables Solutions (IRS)
At HSBC, we understand how important accounts receivable management is to your business cycle. The faster you convert receivables into cash, the more control you have over your cash flow and working capital management.
Electronic Collections
IRS helps you meet your business improvement objectives with a comprehensive array of electronic collections in Bangladesh, including:
- Inward Remittances
- Direct Debit (Standing Instructions)
- EasyPay Bill Collection Machines
Paper Collections
We recognise that cash and instrument collection from nationwide locations into one central account is a key element to your business activities. Following solutions are available:
SmartCollect (Collection at HSBC branches)
Collection of Cash/Instruments (Cheque/Pay Order/Draft etc) deposited at HSBC Branches (all branches in Dhaka, Chittagong and Sylhet)
Cash Pickup/Delivery Services
HSBC can arrange pickup of cash and instruments from your institution to the Bank premises in metropolitan areas where there is an HSBC branch presence.
Nationwide Network Collections (Countrywide Collections)
In partnership with our alliance banks, we arrange to collect deposits from remote locations across the country and deposit into your account in a timely and efficient manner. Services include:
- HSBC currently has arrangements with number of partner banks to broaden distribution coverage for nationwide collection processing of its corporate clients
- Clients depots can directly deposit cash and instruments (Cheque/Pay Order/Draft) at correspondent bank branches in outstation locations throughout the country
- Collection of funds nationwide in the form of cash and instruments, and credit to your institution's collection account with HSBC
Receivables Management System (RMS)
Built with advanced modular technology, our Receivables Management System brings together all of the IRS components to create the leading receivables management solution offered in Bangladesh. Our Receivables Management System (RMS):
- Consolidates receivables information across all collection locations
- Delivers real-time data on collections, through HSBCnet (our internet banking platform)
- Provides various consolidated reports structured to meet your specific needs (e.g. collection reports sorted by nationwide branches/locations, by distributors (vendors), returned cheque reports)
- Automates accounts receivables reconciliation using your own pre-defined parameters (payor ID/invoice ID patterns)
- Delivers unique receivables advices via e-mail or SMS
Need to know more?
Call now on 01199 88HSBC (4722)