Automated cross border system delivers time & cost efficiencies
HSBC today announced that Atkins has selected its HSBC.net solution to enable its UAE head office to centralize payments for local execution in Bahrain, Oman, Saudi Arabia and Qatar.
Atkins, one of the world's leading engineering and design consultancies, has been active in the Middle East for around 40 years. As an international leader in its field, the company was looking for a solution on a par with its global transactional banking systems. The HSBC solution delivered an end-to-end process automation solution for its accounts payable transactions across its five main regional offices, which would be fully integrated with existing systems and banking partners.
"The solution from HSBC combined with the bank's wide regional footprint stood out amongst its competitors as an efficient electronic platform, which allowed us to automate processes as well as consolidating all of the regional accounts under one umbrella. This delivered increased visibility and overall cost efficiency to our transactions on a regional level," commented Grant Porter, Regional Finance Director, Atkins.
"This project with Atkins is a fantastic example of the solutions based approach which we can bring to international companies operating in the Middle East," noted Natasha Patel, Head of PCM, HSBC MENA. "We aim to combine best in class technology with on the ground experts who are on hand to implement and support each regional office, delivering real efficiencies to businesses operating on a global scale."
HSBC.net is an award winning solution from HSBC's Global Transaction Banking team, and delivers a secure, convenient and cost effective mechanism for international companies. With a presence in 13 countries around the MENA region, HSBC combined best in class products with regional expertise to close the deal with Atkins.
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HSBC Bank Middle East Limited (HSBC)
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 50 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In addition to the branch network HSBC maintains a representative office in Tripoli, Libya. This extensive regional coverage is strengthened by HSBC Bank Egypt SAE; HSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Saalam Investment Bank.
Media enquiries:
Aimee Peters,
Corporate Communications
HSBC MENA - Commercial Bank
aimeepeters@hsbc.com
+971 4 423 5608
© Press Release 2011
