Globalization and increased economic interconnectivity, along with dynamic technological developments, are changing the face of business. Hence, business leaders are striving to understand what these changes mean and what opportunities exist for their respective firms, today and in the future.
As the Philippines remains to be one of the fastest-growing markets in the region, corporations based here now recognise the need to be more efficient and competitive to survive in the global arena. An increasing number of today’s corporations are showing active interest in best practices in treasury management, such as improving efficiency and increasing productivity in treasury operations and structures, as well as maintaining effective liquidity management. These corporations understand the build and maintain a robust Corporate Treasury organization to ensure sustainability of their core business and to promote the Philippines, as a centre of excellence for effective Corporate Treasury Management.
In the recent Corporate Treasury Management symposium organised by HSBC Philippines, Filipino corporations expanding overseas, as well as, multinational corporations managing their overseas subsidiaries or affiliates from the Philippines, have expressed interest in best practices in corporate treasury management, commonly used treasury structures, effective liquidity management, regulatory landscape and key trends within ASEAN and across Asia Pacific.
Facilitated by Art Tanseco, Head of Global Liquidity and Cash Management (GLCM) for HSBC Philippines, the half-day session, with the theme, “Best Practices in Corporate Treasury Management across Asia Pacific”, was held at Shangri-La Hotel Makati last 26 March 2019, and attended by representatives from various corporations based in the Philippines.
Key speakers and panellists were Siddhartha Roy, HSBC Regional Head of Sales for ASEAN, GLCM; Alex Favila, HSBC Senior Product Manager, Payment Advisory, GLCM; and, Deepak Menghani, HSBC Senior Product Manager, Liquidity Management, GLCM. They touched on various topics such as the corporate treasury structures in Asia Pacific, liquidity and FX management landscape, corporate treasury in ASEAN, as well as held a panel discussion to discuss key points and address questions from the participants.
Michael Brennan, head of Wholesale Banking for HSBC Philippines, opened the session and welcomed the guests and speakers.
“There is a growing recognition that corporate treasury management is critical to keeping a company financially sustainable. To have the right technology, people and the ability to connect customers to these opportunities locally and internationally will be favourable to the Philippines and the rest of ASEAN,” Brennan said. “As the global economy becomes more interconnected and competitive, firms are looking to digitisation and cross-border connectivity to efficiently manage treasury operations and identify new revenue opportunities. To deal with a single bank across multiple countries provides significant advantages, as the consistency of user experience and data simplifies matters from a client perspective.”
HSBC’s global network and international connectivity allow the Bank to support corporate businesses who are expanding overseas, and are transforming their treasury operations and financial processes, with the aim of enhancing stakeholder experience, improving interactions with banks and reducing process complexity. The focus on being able to provide anytime, anywhere, any-format connectivity, offers expansive payoffs in terms of control, efficiency, transparency, delivers growth and sustainability to the business.
“Today, more than ever, it is vital that businesses work with partners that understand the evolving dynamics of their sector in the markets in which they do business. At HSBC, we continue to leverage our network allowing us to develop tailored treasury solutions for our customers. Our role is to enable our clients to achieve their business ambitions,” Brennan said.