HSBC and MAS Active implement another first in the industry

Tuesday, 10 December 2013 00:00 - - {{hitsCtrl.values.hits}}

HSBC Payments and Cash Management Sri Lanka announced the implementation of HSBC Connect to SAP Lite (C2SAP Lite), the next generation SAP ERP (Enterprise Resource Planner) adaptor technology, recently. MAS Active, the active wear manufacturing Division of MAS Holdings, will be the first company in Sri Lanka to use this new solution. It will enable MAS Active to experience a host of unique features including the use of XML (Extensible Markup Language) based on ISO20022 which is now the global industry standard for data transmission.

HSBC Sri Lanka Head of Corporate Banking Chamira Wijetilleke stated: “This is another milestone for HSBC Sri Lanka. We are happy that we are able to innovate in this space and give leverage to our valued customers by introducing new and more effective ways to handle their payment process. We are very pleased to have MAS Active on board real time for C2SAP Lite.” C2SAP Lite, coupled with HSBC’s host to host platform ‘HSBC Connect’ and the award winning delivery channel ‘HSBCnet’, ensures seamless connectivity and secure file transmission from MAS Active to HSBC and vice versa. It also enables two-way corporate-to-bank connectivity, automatic reconciliation with the company’s internal SAP systems and provides clear visibility on company cash flows. “MAS is delighted to partner with HSBC on this latest innovation. As one of MAS’ integral business partners, HSBC has been leading the way in helping us mange our ever increasing process needs. MAS Active is always open to innovative solutions that would improve our productivity and operational efficiencies. The C2SAP solution is a perfect complement to MAS’ complex payment processing model and will, add considerable value to our business. The solution has been tailor-made to provide automated end of day reconciliations to eliminate the delays and errors faced by finance staff,” stated MAS Active Director Finance and Planning Suranga Nanayakkara. HSBC Sri Lanka Head of Global Payments and Cash Management Amesh Dissanayake noted: “In this digital age, companies would greatly benefit from a good cash and working capital management strategy and, HSBC is constantly innovating and guiding its partners by introducing new products and corporate connectivity solutions, to address this. With the implementation of C2SAP lite which is a reliable solution for communication and system integration, we hope it will offer convenience to perform end-to-end banking transactions which is just a click away. We are pleased that MAS Active is partnering us in this new venture.” This technology provides HSBC’s clients with an opportunity to ensure seamless connectivity and secure file transmission. HSBC plans to extend this technology beyond apparel to other industries in future.