We are implementing Oracle in our Hong Kong facility - they currently do everything very manually and need to figure out how to automate their process. Can someone share best practices on payment issuing and how the postal system works in Hong Kong - from what I understand they are currently sending all payments out by messenger and not using any type of postal process also issuing manual checks and I need to automate this - is electronic payments an acceptable process in Hong Kong?
Other - Business & Finance - 2 Answers
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1 :
Well, I'm not in Hong Kong. I would purchase an Accounting program. What accounting program are you currently on? Call/ask the company that you have your accounting program with and ask them to add A/P, it will probably cost some $$, but its easier than performing it all manually. Also, some vendors will accept wire transfer, see which ones do that way you won't have to depend on a messenger all the time. But, not all vendors may take wire transfer either. Also, check with your bank and see if they offer this service. Actually, when you think about it. Delivering via messenger is not a bad idea, because when the messenger delivers the payment, the vendor signs & dates for it as received, and you have your proof.
2 :
Labor is cheap in Hong Kong - that's why it is done that way - It is probably more efficient than the automation you want to install - less than 50 years ago - all business were run that way "by hand" well with the exception of maybe hand delivering checks but even that was done on a limited basis - it was proven much more accurate than today's computer generated fodder
