HSBC plans faster supply chain finance with new Me-PO solution
Me-Po, one letter away from a whole different meaning
HSBC has introduced a matched electronic purchase order (Me-PO) financing solution to improve its release of working capital.
Developed by Bolero, the solution is designed to reduce the cost of invoice and purchase order processing between HSBC business customers and suppliers.
Ian Kerr, CEO at Bolero says: “HSBC’s Me-PO service introduces significant benefits to the global supply chain, removes the pain associated with time consuming, manual, paper-based processing”.
With this, both parties say they will have more visibility and be able to track and monitor purchase orders and invoices in real time.
Purchase orders and invoices can be automatically validated, processed, matched and approved. The approvals process enables purchasers and sellers to submit requests faster than traditional paper-based processes.
