Impact Of COVID-19 On Business Operations
For one, because of the export restrictions added when COVID-19 struck, they couldn’t get important parts from their suppliers in Europe and it forced the company to relocate its supply chain to Asia.
Since their clients are companies offering essential services, the clients expected them to work and to provide their services without any hiccups. So, the expectations for them were high. Not to mention, some of their business processes were still done manually.
To make things worse, their suppliers also required them to transfer payments first before they can start work on producing.
With seemingly endless walls closing in on them, they realised that they were growing fast, but their digital capabilities did not. The looming COVID-19 related restrictions were being piled on as well, so they decided to step up their game.
Going Digital From Operations To Banking
Internally, Saluran Pasifik embarked on a digital journey in parts of their company procedures from operations to finance. All meetings were switched to virtual meetings and staffs were provided with work-from-home essentials during the MCO period.
As for dealing with suppliers and managing their finance operations, they reached out to HSBC to look for ways to transform digitally. And that’s when they were introduced to HSBCnet, HSBC’s digital banking platform.
With most of their supplies coming from overseas, it’s not surprising that they need to deal with a lot of trade documentation which can get complex and time-consuming.