HSBC targets simplified receivables process with DART digital solution
HSBC aims to improve the supply chain, cut down on manual tasks and enhance working capital efficiency for sellers with its industry-first Digital Accounts Receivables Tool (DART), reports Jane Connolly.
First launched in India by HSBC’s Global Liquidity and Cash Management (GLCM) business, HSBC DART is designed to simplify and automate the exchange of information between sellers and buyers, through a secured digital information exchange channel.
The solution, which is supported by the use of tokenisation technology, is available online or via an app from Google Play.
Gautam Viswanathan, head of product management, GLCM, HSBC India, describes DART as a “one-stop-shop” where sellers and buyers can connect.
He adds: “DART brings better organisation to the entire receivables process, improves efficiency and serves as a ‘ready record’ for clients. HSBC’s clients and their customers can track information and view all actions taken by either party.”
HSBC recommends DART as especially useful for corporates in the fast-moving consumer goods, pharmaceutical and technology industries.