Teknion Furniture Systems adopts online B2C business model during Covid-19

Teknion Furniture Systems, a subsidiary of the Canadian-based Teknion Group, has switched to digitisation and remodelled its business to include business-to-consumer as well (B2C).

The change was made in response to the Covid-19 outbreak and the ensuing Movement Control Order (MCO) restrictions in Malaysia.

Given the vast work-from-home arrangement had taken place for most businesses over this time, the company has taken a proactive step in making it easy for employees of its corporate customers to set up their home office by providing individuals with the option of buying Teknion’s goods online.

The company needed a reliable payment gateway, considering its foreign clientele, which could help multiple invoice currencies across all 13 Asia Pacific countries. In addition, an enriched report was required to detail the country’s collections in order to help its potential business strategy.

In order to facilitate all the above, HSBC Malaysia provided Teknion Furniture Systems with Email Payment Link, an online Omni Collect solution customised to fulfill its specific requirements. 

The bespoke Email Payment Link is HSBC Malaysia’s first online Omni Collect solution which opens up payment options beyond Malaysia.  

Some of the solution’s key benefits to Teknion Furniture System include: 

  1. The solution has a simple set-up and it is scalable. Teknion Furniture Systems is able to send payment links directly to its customers with just a few simple steps. There is an option to generate thousands of email invoices at one go via bulk payment link. It is able to support unlimited email links. 
  1. The solution enhances customer experience with a “Pay Now” button in emails to facilitate the payment via online bank transfer, e-wallets, and cards (domestic and international). 
  1. The solution provides a personalised payment page to allow different invoice currencies (such as MYR, USD, SGD), incorporating the Teknion logo and brand. 

Essentially, this solution helps to improve cash flow by giving Teknion Furniture Systems’ customers a quick and easy way to pay across the Asia-Pacific region. 

With the collaboration between HSBC and its authorised vendor, GHL ePayments Sdn Bhd, HSBC managed to deliver the solution within a short span of time.  

“As its main banking partner, HSBC is proud to support Teknion Furniture Systems in its digital transformation initiatives through our comprehensive array of digital offerings. 

This includes our digital platform HSBCnet and now the Omni Collect solution which is basically a one-stop collections solution designed to simplify and streamline the way businesses collect payments,” Shayan Hazir, Country Head of Global Liquidity and Cash Management, Commercial Banking, HSBC Malaysia said.

Country Head of International Subsidiary Banking, Commercial Banking, HSBC Malaysia, Vishal Karanwal stated that “With a solid partnership going back to 1994, we have assisted Teknion Furniture Systems with various financial solutions for its business endeavors throughout the decades. And we continue to provide support during this Covid-19 pandemic to help the company weather the challenging circumstances.” 

“We are able to send the payment links directly to our customers via email in their preferred currency value. This has added greater flexibility and improved cash-flow by giving our customers an easy way to pay,” Thomas Tan, Chief Financial Officer, Teknion Furniture Systems added. 

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