All-weather banking support for a cross-border supply chain service provider
In China, new retail has now developed to a stage of tech-driven growth where production, transportation, trading and distribution would not be possible without a well-functioning supply chain.
Top & Ideal is a provider of cross-border supply chain solutions. When talking about tech-driven growth, Mr. Hong Zhiquan, Chairman & CEO of the company said， “Now customs clearance can be done within literally seconds for cross-border purchasing and products can be shipped out within 24 hours after order taking, something that used to take an average of 72 hours. This is an experience similar to shopping on major e-commerce platforms in China and it hardly feels ‘cross-border’.” Thanks to its outstanding cross-border supply chain services, Top & Ideal has seen tremendous growth of its business that now covers cross-border e-commerce, cross-border supply chain, international trade, information services, terminal warehousing and supply chain finance. The company is currently working with close to 6,000 partners including brand owners, agents, logistics service providers and channel operators. Such growth would have never been possible without investment in technology. The company is now well covered by its own database and smart system, and will connect its database with those of its partners across the value chain for data sharing and analysis of business flow, goods flow, capital flow and information flow.
In order to provide cross-border supply chain services in an efficient manner, Top & Ideal has set up more than 50 subsidiaries around the world to handle different parts of the supply chain. As a predominantly tech-driven company, it also needs efficient data sharing and management for its global finance across all entities. That need has been well fulfilled by HSBCnet where all of the company’s HSBC accounts can be viewed in one place. The finance department at the company’s head office can also access account details of all subsidiaries anytime. Moreover, global payment and settlement is now more convenient and efficient with increased ability to centralize liquidity management and allocation that saves manpower and material resources and gains significantly greater efficiency for the company’s group treasury.