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SaaS

Software as a Service. Software owned by the system provider on a subscription basis and in a shared environment. This allows a subscription approach to paying for the service without the upfront cost of software or hardware. This can be very cost effective. see also hosting.

Settle Only Matched

A compromise solution for companies that cannot get agreement for or do not need receivable driven netting, the clearning is payable driven (the payer is in control of which invoices will be paid) but the receiver also uploads all open invoies, only those that match are settled in this clearing.

Shared Service Centre

One or more centres that process invoices on behalf of one or several subsidiaries. These can sometimes be outsource or in-sourced.

Single Sign-On

Software and or hardware that allows a company to authenticate user access to the netting system based on their corporate profile. This is very useful, being a good security measure and avoiding additional passwords.

Sub-net Centres

The ability to settle within a defined group of participants before any payments are made to the Netting Centre. This can provide a cashless settlement process and minimise the number of cross border transactions in the same currency.

Subsidiary

A legal entitiy or mena of defining the owner of various transactions in the netting.