First, it is essential that your banking partner can support your geographical footprint, providing a consistent platform in every country where your company operates. HSBC has developed tools and entered alliances to help your business identify the opportunity for commercial card payments, making it easy for you to design a card solution adapted to your needs. Combining the output of powerful analytics and the experience of our HSBC card experts, we can build a business case aligned to your objectives and focused on payment items that are most suited to commercial card solutions.
Second, it is advisable to choose a partner where you have an existing relationship. It is also advantageous if your provider has robust risk controls in place and strong credit fundamentals, making it well prepared to support your company’s growing financial needs. Finally, and perhaps most importantly, it is essential to take full advantage of the automated solutions available to you, which is why it is necessary to choose a bank, such as HSBC, that offers an end-to-end digital and banking solution that incorporates direct and indirect expense reconciliation. This will prevent you from having to work with multiple vendors.
Paying by card allows a company to take advantage of up to 150 days interest-free credit, providing treasurers with greater flexibility on how they time payments. Streamlined digital processes save money on labour, while the reporting and analytics insights help identify areas where spending can be reduced, or vendor relationships can be optimized.
The corporate card is a key tool in the transformation of B2B payments, and HSBC Corporate Cards solutions are at the forefront of this evolution. By choosing a banking partner who can support their geographical footprint and provide end-to-end digital solutions, businesses can take advantage of the many benefits associated with this technology. The future of banking is increasingly digital, and businesses have growing expectations that technology will deliver cost savings and efficiency. Operating a corporate cards program is a simple and effective way to ride the wave of change and achieve all the benefits associated with it.
Start using HSBC’s Corporate Cards today or contact your Relationship Manager for inquiries.