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Smoothing the Onboarding Process

by John Laurens, Regional Head of PCM Asia Pacific, HSBC

Having the right cash management solution in place can make a world of difference to a company – especially for a multinational that has complex operations across several regions. A consistent approach to a company’s cash reserves, no matter where they are located, provides a wide range of benefits – such as improved efficiencies, greater visibility, and better expense controls.

But these benefits cannot be realised immediately. After choosing the right mix of services, the solution must be implemented. Onboarding a new system is usually a critical procedure that can affect a company, its subsidiaries, vendors and customers. These parties will all have different objectives, perceptions and expectations for the new system. Furthermore, these parties can often be located in diverse geographical locations.

As solutions become more complex, there is an increasing recognition that both the client and service provider should start thinking about the implementation process as early as possible. Because when a delivery is poorly managed, a number of problems can arise. In a large organisation for example, the implementation can lead to an inconsistent and fragmented installation, resulting in a global or regional solution that offers poor customer service and does not live up to its promise of convenience and efficiency for employees.

We find that customers often have two major concerns before implementing their system. First, they worry that a major system change will require large amounts of internal resources to exchange documents and manage project tasks within the company. Second, clients also fear delays in problem resolution during the process due to a lack of visibility and timeliness of access to project details.

To address these concerns, we recommend that businesses work with a trusted provider that understands their business to ensure that the implementation is completed smoothly. A capable provider should be able to offer custom-made solutions and be willing to take a consultative approach to onboarding. In today’s online society, we also recommend looking for a provider that is able to put technology to use during implementation.

At HSBC, for example, we have Clientsphere which is a proprietary platform for accelerating the delivery of new solutions. ClientSphere is an online collaboration system that enables service teams to deliver faster, more efficient implementation of cash and treasury management structures. It also provides clients with visibility and control, making project management much simpler.

The platform works by facilitating communication, and hence improving the overall implementation experience. A transition process that is project managed manually is typically characterised by fragmented activities and conversations that are hard to track due to poor visibility between different parties.

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