HSBC Malaysia has transacted its first Omni Collect Online solution with Zuellig Pharma Malaysia, the largest distributor of healthcare and pharmaceutical products in Malaysia. The solution delivers Zuellig Pharma Malaysia a bespoke end-to-end product that has streamlined their collections and payments process.

The rollout of Omni Collect Online follows the implementation of a dynamic virtual account solution with robotic process automation in 2019. This solution helped Zuellig Pharma Malaysia with their working capital and collections by enabling speedier, accurate and automatic payments reconciliation and postings.

“HSBC Malaysia has collaborated with Zuellig Pharma Malaysia on several customised solutions over the years. Most recently, we customised a solution specifically for their collections and payments process,” said Stuart Milne, Chief Executive Officer, HSBC Malaysia. “As a market leader in digital innovation, our approach is focused on digitising eco systems and providing a holistic approach to customer solutions. Zuellig Pharma Malaysia has been keen to adopt new digital innovations and has embraced technology with HSBC to enhance their financial operations.”

Transforming the collections and payments process

As an organisation that embraces digital transformation, Zuellig Pharma Malaysia has been consistently on the lookout for ways to make the customer journey more seamless. HSBC worked closely with the team over a period of eight months to reduce the company’s mid-tier channel physical payments, channelling this directly through a customised HSBC Omni Collect Online solution.

“HSBC Omni Collect Online integrates the solution of HSBC’s partner GHL ePayments Sdn Bhd, one of the top ASEAN payment service providers, Zuellig Pharma Malaysia’s existing digital systems and HSBC’s own innovative solutions to deliver and receive incoming proceeds. This is known as end-to-end solutioning; where a 3-way system is integrated to channel receivables in a seamless and convenient way,” said Shayan Hazir, Country Head of Global Liquidity and Cash Management, HSBC Malaysia.

Using AskZip, Zuellig Pharma’s in-house artificial intelligency (AI) chatbot, customers will be able to view their account status and receive live feed queried data with the help of the AI query response. This provides users with the option to make an online payment through GHL’s payment gateway. Once payment is cleared, Zuellig Pharma will be able to manage reconciliation with ease using its in-house robotic processing application and HSBC’s Dynamic Victual Account solution. This autonomous end-to-end solution provides Zuellig Pharma with a clear view of their customers’ account status without the need for manual statement checking and reconciliation.

“With the HSBC Omni Collect Online solution integrated with our proprietary chatbot askZiP and soon with our eZRx online ordering platform, we can now offer a smooth and fast online payment experience, accelerating banking reconciliation and credit management. This also supports our efforts to continuously improve our customers’ experience,” said Louis-Georges Lassonnery, Chief Executive of Zuellig Pharma Malaysia.