Working capital is an important measure of a company’s liquidity and its a main key source of finance.
During a recent HSBC Working Capital Forum 2019, expert speakers and panelists shared the trends of working capital, tax implications and latest economic insights.
The two key sessions during the Forum were the presentation on ‘Technology as the Enabler to Improve Working Capital Digital Solutions’ by Winfield Wong, Regional Head of Business Development, Asia Pacific, Global Trade and Receivables Finance, HSBC Asia-Pacific as well as the Panel Discussion on ‘Technology as an Enabler to Working Capital Management’.
Andrew Sill, Country Head, Commercial Banking, HSBC Malaysia says, “This Forum demonstrates HSBC’s thought leadership in financial matters including working capital. It also highlights our strong commitment and ability to encourage and support Malaysian businesses in embracing technology and digital innovation as a way forward.”
The recent HSBC’s “Navigator: Made for the Future” survey revealed that businesses across Malaysia believe that the strongest opportunities for future growth lie in prioritising technological innovation, sustainability and developing talent to harness digital innovation.
The survey revealed that innovation is a business enabler, with 34 percent of companies in Malaysia citing innovation as critical to their future success, which is considerably above the global average of 26 percent. In fact, almost all (98 percent) of Malaysian businesses feel that innovation is important, in line with global findings.
“In the pursuit of continuously improving customer experience, HSBC’s investment in the latest technology for digital trade will continue at a major scale. We have been actively investing in innovation to elevate our interactivity with our customers, including refreshing our online platforms and launching new digital features to meet the growing needs of businesses by providing a simple and secure platform,” Andrew adds.
Debbie Mak, Country Head, Global Trade and Receivables Finance, HSBC Malaysia comments, “By improving efficiencies in processes and a reduction in capital cost, companies will be able to see profitability enhancements, which will lead to a sustainable increase in their economic profit and higher corporate value.”
“Businesses should take a more holistic view of their whole financial supply chain; with all parties making a consistent effort to optimise working capital. It should involve the business’ entire managerial team, not just the finance function alone,” Debbie adds.