HSBC Integration with Sage X3

The HSBC–Sage X3 Integration automate and streamline financial processes, reduce manual errors, and enhance visibility into cash flow and banking transactions.

It connects Sage X3 directly to HSBC, enabling secure, scheduled exchange of:
• Supplier Payments (Outgoing)
• Customer Receipts (Incoming)

Daily synchronization of deposits, withdrawals from your HSBC account into Sage X3 is supported through CAMT.052 (Periodic Statement) & CAMT.053 (End-of-Day Statement) formats which are equivalent to MT942 & MT940 respectively

We have developed a dedicated HSBC Integration Module within Sage X3, making your payment and reconciliation processes seamless.

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[Fig 1. HSBC Integration Module in Sage X3]

This module is divided into two sub modules:

1. Suppliers Payment Processing – for processing and managing outgoing payments (Supplier Payments)
2. HSBC Bank Statement – for importing and reconciling bank statements (Customer payment Receipts)

Key Benefits of HSBC Integration:

• End-to-End Automation:
  Eliminate manual uploads by sending payment instructions directly from Sage X3 to HSBC.

• Enhanced Security:
  Uses HSBC’s secure SFTP/host-to-host connection and encryption for safe data transfer. Uses bank-approved secure file transfer protocols (SFTP).
  Supports SSH encryption for authentication & PGP encryption for data security purpose.
  Protects financial data and ensures compliance with banking standards.

• Faster Processing:
  Reduce delays and errors with direct bank file generation in HSBC-compatible formats.

• Compliance Ready:
  Meets HSBC’s file format and authentication requirements.

• Automatic AR Receipt Generation:
  With CAMT.052 (Intraday statement / MT942 equivalent), users can automatically create AR receipts in Sage X3 as soon as customer payments are credited in the bank.

• Reduced Errors:
  No more manual re-entry of payment data.

• Bank File Format Support:
  HSBC-specific payment formats are supported (e.g., CAMT.053, CAMT.052, which are equivalent to MT942 & MT940 respectively.)

• Multi-Currency Support:
  Easily process domestic and international transactions; ideal for multinational or multi-entity organizations.

• Time Savings & Automation:
  Eliminates manual entry by pulling transaction data directly from HSBC daily with CAMT.052 format (Periodic statement)

• Easy Bank Reconciliation:
  CAMT.053 (Day-End statement / MT940 equivalent) simplifies reconciliation in Sage X3.

• Better vendor/customer experience through faster processing