How HSBC’s Beyond Banking Initiative makes it easy for entrepreneurs to grow


With digital technology invading our lives, it is essential that businesses adapt to the new normal for their survival. While digitization has led to the simplification of processes for businesses, implementation comes with its share of complications that have left many traditional businesses struggling.

It becomes even more difficult for startups and SMBs, where business owners have to juggle various functions. In order for a business to scale, there are tons of little details to deal with, such as accounting, compliance, GST filing, human resources, marketing, among others. Managing all of this simultaneously, especially when it comes to multiple systems and platforms, often consumes too much of the founders’ bandwidth, diverting them away from their core business deliverables.

At HSBC, the team is working on these challenges. Through their “Beyond Banking” initiative, they provide businesses with an ecosystem of solutions to help them grow in a sustainable and efficient manner.

What is Beyond the Bank?

The Beyond Banking initiative provides HSBC customers with the best solutions to streamline the various work processes of their businesses, right from the start.

This includes features that founders struggle with, such as enterprise resource planning (ERP), online human resource management system (e-HRMS), logistics management, and more.

To start, HSBC collaborated with Google Workspace and Amazon Web Services (AWS) to equip customers with world-class tools and secure services. While businesses can also sign up for these platforms and services independently, the collaboration brings them profitable solutions, discounts and credits. HSBC’s partnership with the two platforms also ensures seamless integration and practical continuity of services for its customers.

  • Manage your work from one place with Google Workspace: The various tools of Google Workspace simplify and simplify remote work. Through a single platform, business owners can effectively mobilize their workforce, streamline operations, coordinate with team members, and collaborate with clients. Their productivity is not hampered by the location of team members, vendors, or even customers. With this alliance, HSBC makes working in a virtual setup much more affordable so that founders can direct those resources to other critical areas.
  • Cloud Computing Capabilities with Amazon Web Services (AWS) – AWS fulfills several important roles in the businesses of HSBC customers – from hosting websites and designing operating models, to hosting, analyzing and managing data. Thanks to the collaboration with AWS, the bank’s client startups benefit from free credits that help them optimize one of the most important expenses incurred in running a business. The easy approval process, Beyond Banking specials, and a team of experts are always on hand to help, making the customer journey even more enjoyable.

Make banking and accounting a snap with HSBC-Zoho Books

HSBC has now integrated with Zoho Books to enable its clients to effectively run one of the most crucial elements of running a business: accounting and finance.

Small businesses and startups especially struggle to find affordable financial advisors aligned with their business vision. Navigating these tasks on their own can be difficult, not only in terms of time but also the real risk of mistakes.

With a simple plug-and-play solution, HSBC customers do not have to frequently switch between platforms for accounting functions such as payment reconciliations, vendor and GST payments, accounting, payroll management or any other endless banking task. Simple yet powerful cloud-based accounting software helps manage business transactions, cash flow, payments, and receivables, all through a single integrated platform.

Here are some unique benefits of integration:

  1. Several payment options – Make regular payments to one invoice or vendor or save time by making bulk payments to multiple invoices or vendors.
  2. Generate automatic registrations after payment – Zoho automatically saves paid invoices, so you can view them anytime, anywhere.
  3. Effortless GST Compliances – Pay GST or file returns directly from Zoho Books. The software updates automatically at the end of the payment and adds automatic journal entries.
  4. Synchronize bank flows – Zoho offers easy setup with HSBC integration. Customers can track cash flow directly from Zoho Books and the transaction status automatically syncs every 24 hours.
  5. Reconciliations without error – Just choose the reconciliation period, Zoho Books automatically retrieves and compares transactions in an intelligent way.

The road ahead

According to Prakash Jaiswal, Country Head, Business Banking (MSME, Startups), HSBC India, Beyond banking with HSBC India is a forward-looking initiative that helps companies keep up with the ever-changing business landscape.

“At HSBC, we understand the essence of the problems businesses face and intend to provide them with a one-stop solution. We help them overcome all the obstacles that hinder their growth, one integration at a time, ”he says.

By building a strong network of well-functioning alliances and integrations, HSBC is developing an ecosystem that offers all the solutions businesses need – and that’s just the start.

The bank plans to create several other collaborations and integrations, based on both what they see and hear from our customers, to help Indian businesses manage their operations effectively and establish sustainable processes.


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