Thiên Long group reaches new digital milestone with support from HSBC

May 12, 2023 - 10:11

Representatives of HSBC and TLG pose for a photo at the signing ceremony. — Photo courtesy of the HSBC

HCM CITY – Recognising the strategic value of digitalisation, Thiên Long Group (TLG) has cooperated with long-term banking partner HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) to accelerate the pace of its digitalisation journey.

Specifically, HSBC has developed a fully automated Integrated Payables Solution and a seamless Integrated Receivables Management Solution that will enable TLG – Việt Nam's leading stationery business with a presence in over 70 countries around the world – to perform auto-reconciliation, simplify payables and receivables management, and save time and resources.

Responding to TLG’s fast-paced development and expansion, which requires bulk transfers in their daily operation, HSBC’s Integrated Payables Solution, which is centralised on Host-to-Host connectivity between TLG’s Enterprise Resource Planning (ERP) and HSBC’s system, provides automation from payment creation to authorisation levels following internal control governance for approval matrix. Once the online final authorised instructions are sent to HSBC via the system, the bank can immediately arrange the payments through domestic and international linkages, reducing 50 per cent of processing time. - VNS

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