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

The last two years have significantly changed the way businesses collaborate with each other. Gone are the days when you were required to log in to multiple applications offered by multiple service providers, be it banking or otherwise. Today, we are living in an age of digital ecosystem, where consumers expect seamless journeys irrespective of use case and geography.

To meet the ever-evolving needs of the customer today , HSBC has embarked upon a journey called ‘Beyond Banking’ that provides its customers with the best-in-class solutions to streamline various business processes, right from the get-go.

This includes functionalities founders typically struggle with, such as billing, accounting, inventory management, employee T&E, tax compliance and so on... Read more about the initiative in our previous post here.

HSBC-Zoho collaboration

HSBC has been working with Zoho, one of India's largest cloud-based software suite of applications, that caters to customer's every business need. Phase 1 launched with Zoho Books last year, covered end-to-end business finance and accounting solutions that empowers businesses with a seamless connected banking experience. You can now make hassle free payments such as customer, vendor and GST related payments, at a click of a button. Additionally, you can monitor your bank balance in real-time, fetch bank feeds and reconcile it in no time. Check out this video.

What’s next?

Buoyed by the initial success, HSBC decided to raise the bar. The beauty of technology is that it can effortlessly grow to serve use cases, which is exactly what HSBC and Zoho have done by catering to numerous departments within a company –Let’s explore the features of ‘HSBC <> Zoho 2.0’.

Typically, cross-border payments involve a lot of complexities. Thanks to HSBC’s collaboration with Zoho, you can now make cross- border payments as effortlessly as domestic payments.

If you deal with a lot of suppliers located outside the country, then you don’t need to look anywhere else.

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

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

Zoho Expense: Corporate travel has resumed and so has Travel and Expense management. Keeping track of all spending and complying with regulations can take up a lot of time. With Zoho Expense, you can streamline business travel, automate expenditure reporting, have complete control over spending, and acquire critical financial insights to stay two steps ahead. Once you have linked your HSBC account, you can initiate employee reimbursement directly by connecting HSBC and Zoho Expense.

Zoho Inventory: With comprehensive stock management, order fulfilment, and inventory control functionalities, Zoho Inventory enhances your sales and maintains track of every unit. It syncs with Zoho Books in real time, so that you are always on top of your inventory. With Zoho Inventory and HSBC connected, you can make supplier payments a breeze

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

‘It is our constant endeavor to serve the needs of our customers beyond typical banking facilities. With Beyond Banking, we look to abstract away all complexities for our customers, so that they can focus more on their core businesses. With collaboration such as Zoho, we create end to end digital journeys across use cases. We are confident that these collaborations will immensely benefit all organisations, irrespective of their size, scale, industry and domestic/ global ambitions,” says Prakash Jaiswal, Managing Director and Country Head- Business Banking (MSME and startups), HSBC India.

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