Everyone seemed to enjoy the Coprocess User Group Meeting 2016, held in Geneva, June 9th/10th . We very much hope we provided some food for thought as well as for sustenance!

2015 has been a good year for Coprocess and we hope the same for you.

Why? Some countries cannot be included in the ‘payment on behalf of’ (POBO) settlement that usually results from a netting process. Further, some can receive via a netting system but not pay, others the reverse. Some can only settle certain currencies through the netting. Credit notes add additional complexity. Before, you would have to exclude these types of entities from the netting completely. Now, using the new Excluded Transactions module, you can include them and set rules concerning how these transaction will be treated (included or excluding in the netting) and thus have the potential to settle some but not all of their IC flows. Treasury can either manage the settlement or leave the business units in these countries to settle bilaterally.

On our resource centre you will find a presentation by Monica Holmström, Senior Netting Specialist, Sandvik Treasury AB. Monica gave this presentation at EuroFinance International Conference Budapest 2014.

Sandvik wants to keep control of the company processes and sees Treasury and netting as a core business. Monica gives figures for the size of the group but size does not have to be a barrier to outsourcing. Coprocess teams with outsource companies such as FTI, Dublin and TM SA, Switzerland and they use Coprocess.Netting to administer some large corporate netting processes.

Andrew Goldie, Managing Director of Coprocess, gave a presentation on the Coprocess Vendor Payments system at our User Group Meeting 2014 in Nyon. You can find the original presentation on our Resource Centre.

For international companies worried about the cost, complexity and risk from fraud of continuing to make payments locally in-country then this module of the Coprocess Netting system could be a cost effective solution.

The module is built on the netting system platform so it shares the same access rights and methodology, it centralises the payment process, harmonises the coding across the group, improves liquidity and cash forecasting, improves control and reduces fraud risk.

Coprocess today launched a new service. We are making available information about multilateral netting regulations. We believe we are the first company to make this information freely available.

Intercompany or multilateral netting is a very powerful tool allowing multinational companies to offset intercompany settlements. In an ideal world payment amounts would be offset against receipts and settled in the business unit’s local currency. For many countries this is allowed, is common practice and is the optimal way to run netting. See our new Netting Regulations document under the column Full Netting Allowed.

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