An Interview with Jusak Kertowidjojo, President Director, PT Indomobil Finance Indonesia
Collecting cash on time is critical to every organisation. There are various elements in achieving this, from ensuring that it is as convenient as possible for customers to pay, through to efficient reconciliation, cash visibility and debt collection capabilities. Firms working predominantly in the business-to-business space, with lower volumes of collections and customers with structured accounts payable processes, tend to find collections easier. For retail companies with many thousands of individual customers, the experience can be very different. However, by implementing the greatest possible customer convenience, efficiency and cash flow visibility, companies operating in the retail space can deliver significant working capital improvements, reduce bad debts and improve margins. This in turn enables cost savings to be passed on to customers, creating competitive advantage.
IMFI made the decision to appoint HSBC Global Payments and Cash Management as a partner, and have implemented HSBC’s Integrated Receivables Solutions to extend collection channels using the ATM Bersama network with more than 13,000 ATMs across Indonesia. This greatly enhances convenience and payment flexibility for IMFI’s customers. The solution allows IMFI to have full visibility across its cash positions, including the ability to identify incoming payments on a real-time basis. Additionally, the company’s collections and receivables will be further streamlined, while improving its overall working capital management. The solution also allows all banking activities to be consolidated with HSBC via the Bank’s internet-based electronic banking platform, HSBCnet, integrating with IMFI’s back office system.
In this interview, Helen Sanders, Editor, talks to Jusak Kertowidjojo, President Director, PT Indomobil Finance Indonesia (IMFI), one of the foremost multi-financing companies in Indonesia’s car and motorcycle sector, about how the company has enhanced its collections processes.