Coprocess UGM 2016, Tom Dunlop, Head of Finance Transformation Products, Intertek Group

With 40,000 + employees, in 100+ countries, around 400 business units and £2bn in revenue, Intertek needs to keep control of Intercompany.

The group has grown by acquisition and has been relatively decentralised. This lead to problems with unreconciled intercompany invoices and unsettled balances. Tom outlines how Coprocess Reconciliation has been used to start Intertek on the road to a streamlined intercompany matching and reconciliation process in phase 1. In phase 2 Intertek has plans for the introduction of centralised settlement via Coprocess Netting

ZF Group is a German manufacturing company which acquired TRW Automotive in May 2015
The combined company is a global leader in driveline and chassis technology as well as active and passive safety technology.
TRW is now the largest division within ZF as the Active and Passive Safety Technology Division
Global workforce of approximately 135,000 with 230 locations in 40 countries
Sales of €35.2 billion in 2016
Treasury hubs in Europe (Friedrichshafen, Frankfurt, Amsterdam), North America (Livonia, MI), and Asia Pacific (Shanghai)

Coprocess multilateral netting has been in use at TRW for netting since 2007; hedges in ZF TRW’s program settle through netting. The Vendor Payments module in 2011. The Coprocess multilateral netting system is used
to net payments from multiple subsidiaries to multiple vendors to reduce the total number of
actual payments being made and centralize any Foreign Exchange required to settle them.

Multilateral Netting is implemented as a payables-based system, with Treasury responsible for entering certain categories of payments:
Royalties, exposure-management transfers, FX settlements, treasury fees, interest

Eaton has been a Coprocess client for more than 15 years. With 600+ participating ledgers, 16 Pools, 325+ users Eaton is one of Coprocess' largest Coprocess multilateral netting clients.

Learn about Eaton and its use of Multilateral Netting, from business case to current process. How Eaton integrated Cooper entities (nearly doubling the number of AP invoices).

Eaton's presentation includes the current treasury systems map; integrating Coprocess multilateral netting with FIS Quantum, SAP and Oracle ERP's (plus others) using the Coprocess Import and Export functionaility.

Eaton uses many of the settlement options available in Coprocess to facilitate netting in 38 countries, 19 currencies for 140,000 invoices per month. Learn how these settlements are then managed on the In-house Bank (IHB), via in-country pools and Cash. The subsequent FX process is shown via diagrams with descriptions.

Eaton outlines the process management effort and savings from streamlining and its plans for future expansion of the multilateral netting process by using some of the advanced features such as Matching and adding additional countries.

Coprocess UGM 2016, Bernie Zalokar, 10th June 2016.

You will learn:

  • how ABB moved from a Payable to Receivable driven multilateral netting process and its impact on overdues
  • Implemenation tips - 1998 starting with 750 business units in 54 countries and later adding difficult countries such as China, India, Brazil, South Africa & Russia
  • Runing domesic netting using in-country 'pools' in the netting including dispute resolution and via local settlement centers and domestic CNY invoicing
  • how ABB includes 99% of all intercompany invoices in the netting process - that's 1.66million invoices in 67 countries

Coprocess UGM 2016, Vignesh Chandrasekar, Director – Treasury Operations, McCain Foods Global Treasury

McCain: Founded in 1956 and still 100% owned by the McCain family, McCain employs 18,000+ and is the world's largest producer of potato products.

With a fully centralized treasury and running an In-House Bank (IHB) managing the finance for the group with 52 factories and selling to 120 countries, in no problem for McCain Treasury.

Learn:

  • how McCain manages all intercompany payments, includes 3rd party vendor payments in a POBO structure and FX hedge settlements via multilateral netting
  • Interfacing to SAP to extract invoices
  • How Back & Middle office is outsourced and integrated with McCain's Treasury operations
  • Plans for the future

Présentation donnée par Roger Joerg de Coprocess à L' Association Française des Trésoriers d’entreprise au cours de la réunion (AFTE) en Septembre 2014.

La présentation sur le netting intragroupe était conjointe avec Tarkett , un client Coprocess. Le contenu couvrait les compensations des flux interco dans un groupe international.

Voici les désavantages des entreprises qui ont des flux internationaux sans avoir un système de netting:

  • Nombreux et petits montants FX
  • Charges élevées des banques
  • Dates des paiements incertaines
  • Plusieurs paiements par mois
  • Peu de visibilité des paiements
  • Difficulté de rapprochement des comptes
  • Plus de rappels
  • Plus d’administration

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