With premier luxury brand Christian Louboutin expanding to more boutiques spread around the world, it needed help ensuring intercompany invoices were accurate and less time-consuming. Annabella Lopes, Senior Treasury Manager Credit Risk and Netting, explains how implementing the Coprocess system helped Christian Louboutin save time, while increasing visibility and communication with transactions between subsidiaries
The Adecco Group, a Fortune Global 500 company based in Zurich, Switzerland, is one of the world’s largest Human Resources providers and temporary staffing firms. Liam Ó Caoimh, Head of Treasury Operations at The Adecco Group, was surprised the enterprise did not already have a netting solution to settle intercompany payments when he joined the company in 2018.
With revenues doubling and rapid expansion leading to an increase from 16 to 36 global business units, Dechra Pharmaceuticals faced a major challenge in managing its intercompany flows. In this case study, Dechra’s group treasurer Steve Card explains how they met the challenge.
Perstorp, is a world leader in several sectors of the specialty chemicals market. Private Equity owned, by PAI partners, Perstorp has 10 production plants and 26 sales offices.
Perstorp solved the problems they were experiencing with month end intercompany reconciliation by using the Coprocess Recon module. In this presentation given by Perstorp at the Coprocess User Group Meeting in June 2018, Ewa Stiernfeldt, Financial Controller, Perstorp AB, showed how they addressed the major issues of reconciliation.
Vetropack Holding AG is a Switzerland-based company engaged in the manufacture of glass packaging for the food and beverage industry. Vetropack implemented the Coprocess netting system in 2011. There are today about 30 entities defined in the netting. The reason they chose Coprocess was to move away from a manual Excel based solution, and to allow visibility, communication and reconciliation on all Intercompany transactions.
Nestlé S.A. is the largest food company in the world measured by revenue and have been using the Coprocess Netting solution since 2001. They have more than 300 entities in over 80 counties defined in the system. From the netting centre in Vevey more than 80,000 invoices are uploaded from SAP and settled monthly through the Coprocess netting system.
The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient connectivity, sensing, power management, analog, logic, timing, discrete, and custom devices.
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.
