APMM appoints HSBC as cash management banking partner

image As it became known Wednesday, APMM, being involved in a wide range of activities within the energy, shipbuilding, retail and manufacturing industries, appointed HSBC as its cash management banking partner to help centralize its payments processes across Asia-Pacific region.

HSBC’s solution in Bangladesh went live in June 2009 and delivers standardized and cost-effective payments processes to enable APMM to initiate payments in Bangladesh through its shared service centre.

APMM is to get advantages from a streamlined and fully automated payments process delivered via HSBC Connect, HSBC’s host-to-host corporate connectivity solution.

In compliance with the new arrangement, payment instructions are sent from APMM’s SAP ERP (enterprise resource planning) system to HSBC trough HSBC Connect. Once received, HSBC issues cashier’s orders through its Cheque Outsourcing Service. Automated reconciliation is supported by the delivery of statements in "FINSTA" format to APMM.

APMM Bangladesh Implementation team recognizes HSBC’s in-country expertise and thorough understanding of treasury operations let it implement successfully a solution to streamline payments operations across Bangladesh.


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