DKSH will be offering a more convenient payment solution to customers in Singapore
Media release
Singapore, February 24, 2021 –- DKSH, a leading Market Expansion Services provider for companies seeking to grow their business in Asia and beyond, has launched a new payment solution bringing smoother experience to its customers in Singapore.
With the accelerated need for digital transformation among businesses in the wake of COVID-19, many organizations have increasingly tapped into the potential of eCommerce. Recognizing the need to digitize in response to the changing business landscape, DKSH has made continuous investments to expand its digital capabilities and to provide innovative solutions to their customers. One such effort is DKSH Digital, a solution that provides a comprehensive product suite in online channel management, digital marketing, e-fulfilment and data analytics to help traditional firms navigate the associated market complexities of bringing their business into the eCommerce space. Additionally, with the onset of digital payments, DKSH has also streamlined the current cash collection process that was still manual to a large extent and required an extended period of time to complete.
DKSH collaborated with HSBC Singapore as its banking partner to implement a PayNow QR payment solution for customer invoices to accelerate cash collections and reduce manual intervention. The end vision was a seamless invoice payment experience accessible on DKSH's B2B platform - Connect Customer - that would enable clients to make invoice payments by simply scanning a QR code. The teams worked together over the course of one month to create a QR Payment Gateway that would not only allow QR code payments to be made online, but also send a credit notification call to their systems. This payment entry was then directly posted to their SAP Enterprise Resource Planning (ERP) platform, with a consolidation report generated for DKSH's finance team every hour for easy tracking and reconciliation.
Priya Kini, Head of Global Banking, HSBC Singapore added: “Digitizing the collections process remains one of the major concerns for treasurers. That is why we continue to invest in developing innovative solutions, including PayNowQR and Omni-Collect, to support their transformation journey. We are pleased to be able to support DKSH in their optimization and transformation agenda.”
Patrick Stillhart, Vice-President FMCG, Malaysia and Singapore, at DKSH: “With growing business needs and changing customer behavior, DKSH is currently at the forefront of embracing and advocating a digital agenda to stay relevant in this competitive and fast-evolving space. Working with HSBC, DKSH is driving excellence in operational efficiency, client and customer experience, laying good ground to spearhead our digital transformation.”
For further information, please contact:
DKSH Business Unit Consumer Goods
Sheena Flannery
Director, Group Communications
+66 2 220 9739
sheena.flannery@dksh.com
About HSBC Singapore
HSBC Group’s history in Singapore dates back to 1877 when its founding member, The Hongkong and Shanghai Banking Corporation Limited, opened its first branch on the island. A qualifying full bank, HSBC in Singapore offers a comprehensive range of banking and financial services including retail banking and wealth management; commercial, investment and private banking; insurance; forfaiting and trustee services; securities and capital markets services. One of the earliest banks to establish in Singapore, HSBC today is a prominent player in Singapore's financial services sector serving the banking needs of multi-national corporations, home-grown businesses, private banking clients, institutional and retail customers. In May 2016, HSBC locally incorporated its retail banking and wealth management business in Singapore and established, HSBC Bank (Singapore) Limited. HSBC Singapore has a retail network of 13 branches (comprising 10 dedicated HSBC Premier Centres, 2 HSBC Jade Centres and a Premier International Centre) and many locations across the island providing self-service terminals.
About DKSH
At DKSH, our purpose is to enrich people’s lives. For more than 150 years, we have been delivering growth for companies in Asia and beyond across our Business Units Healthcare, Consumer Goods, Performance Materials and Technology. As a leading Market Expansion Services provider, we offer sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 32,450 specialists, generating net sales of CHF 10.7 billion in 2020. The DKSH Business Unit Consumer Goods focuses on fast moving consumer goods, food services, luxury goods, fashion and lifestyle products as well as hair and skin cosmetics. With around 19,430 specialists, the Business Unit generated net sales of CHF 3.8 billion in 2020. www.dksh.com/cg