How HSBC’s services go ‘beyond banking’ to satisfy customers

The past two years have dramatically changed the way companies collaborate with each other. Gone are the days of having to log in to multiple apps offered by multiple service providers, be they banking or otherwise. Today, we live in the age of the digital ecosystem, where consumers expect seamless journeys regardless of use case and geography.

To meet the ever-changing needs of today’s customers, HSBC has embarked on a journey called ‘Beyond Banking’ which offers customers best-in-class solutions to streamline various business processes, right from the start.

This includes features that founders typically struggle with, such as invoicing, accounting, inventory management, employee travel expenses, tax compliance, and more. Read more about the initiative in our previous article here.

HSBC-Zoho collaboration

HSBC works with Zoho, one of India’s largest cloud-based application software suites that caters to all business needs of customers. Phase 1 launched with Zoho Books last year covered end-to-end corporate finance and accounting solutions that provide businesses with a seamless connected banking experience. Now you can make hassle-free payments such as customer, supplier and GST related payments with just one click. Plus, you can monitor your bank balance in real time, retrieve bank feeds and reconcile them in no time. Watch this video.

And after?

Building on the initial success, HSBC decided to raise the bar. The beauty of technology is that it can effortlessly expand to serve use cases, which is exactly what HSBC and Zoho have done by addressing many departments within a company. Let’s explore the features of “HSBC Zoho 2.0″.

Generally, cross-border payments involve many complexities. Thanks to HSBC’s collaboration with Zoho, you can now make cross-border payments as easily as domestic payments.

If you deal with many suppliers located outside the country, you don’t need to look elsewhere.

Zoho Payroll: Zoho Payroll is a cloud-based payroll application that helps businesses of all sizes across India streamline their payroll operations. From employee onboarding to employee exit, Zoho Payroll keeps the entire process organized and efficient. Businesses can accommodate various compensation structures, easily manage payroll, and automatically generate pay stubs online with a detailed breakdown of taxes, allowances, and deductions.

Zoho Payroll facilitates direct banking integration with any of the leading banks in India, to make payroll payments secure, fast and hassle-free. Business owners can send salaries online, without even leaving the Zoho Payroll app.

Zoho Spend: Business travel has resumed, as has travel and expense management. Tracking all expenses and complying with regulations can be time consuming. With Zoho Expense, you can streamline business travel, automate expense reporting, have full control over expenses, and gain essential financial insights to stay ahead of the game. Once you have linked your HSBC account, you can initiate employee reimbursement directly by connecting HSBC and Zoho Expense.

Zoho Inventory: With comprehensive inventory management, order fulfillment, and stock control features, Zoho Inventory improves your sales and keeps track of every unit. It syncs with Zoho Books in real time, so you’re always on top of your inventory. With Zoho Inventory and HSBC connected, you can make supplier payments easier

And all of this is available at attractive prices and with best-in-class support, exclusively for HSBC customers.

“We are constantly striving to meet the needs of our customers beyond the usual banking facilities. With Beyond Banking, we seek to abstract away all the complexities for our clients, so they can focus more on their core business. With collaboration like Zoho, we create end-to-end digital journeys across use cases. We are confident that these collaborations will greatly benefit all organisations, regardless of size, scope, sector and national/global ambitions,” said Prakash Jaiswal, Managing Director and Country Head of Corporate Banking (MSMEs and startups), HSBC India.

Keep watching this space, as we continue to delight you with the best- in- technology and class offerings.

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