ABB has been using Coprocess for Netting for over 20 years. In 2009 we upgraded to the new .net solution. Today over 270 subsidiaries use the system which settles more than 50,000 Invoices twice a month. The system interfaces with SAP, our global ERP platform. We run the system Receivable driven and make use of the matching and discussion capability to clean up the intercompany. Savings from the netting alone are in the region of USD 20 Million per annum but the real global benefit to the group is the structure and discipline it brings to intercompany.
BASF has been using the Coprocess Netting System for over 10 years (since 2005). They upgraded last year to the latest .NET solution. The system interfaces directly with SAP. Over 90,000 invoices uploaded and settled through the netting per month. The key benefits for BASF are the payment discipline and structure that the netting provides. Payments from the netting are booked directly on the in-house bank. They are very happy with the support.
We have been using the Coprocess netting application since 2007 and now have over 150 subsidiaries integrated into the system. We have interfaced the system with SAP and other local ERP systems to allow for upload of both AP and AR items as well as download for booking. We are very satisfied with the functionalities as well with the performance of the Coprocess Netting system.
Edwards Lifesciences has been utilizing the web-based Coprocess system for the past several years. We find the system to be user friendly. Help is only a phone call away as there is a dedicated consultant assigned to our account who is always available.
L'outil de netting est facile à utiliser, et a pu être ciselé en fonction des besoins du Groupe Faiveley Transport. La mise en place de la plate-forme de netting s’est révélée simple, l’administration l’est tout autant. Les nombreux états de reporting disponibles aident à la maîtrise de bout en bout de la chaîne des règlements des factures intra-groupe. Le support clients est très réactif.
The netting tool is easy to use, and could be tailored to fit the specific needs of Groupe Faiveley Transport. Implementing the netting platform turned out to be very straightforward, as is the administration of the system. The numerous reports help smooth the whole netting process from one end to the other. Customer support is very responsive.
FTI Treasury delivers world class treasury services to international organisations. Technology is key to our delivery. We partner with like-minded top class professional technology firms where fixation on service quality and excellence is a shared value. As such we have found a trusted partner in Coprocess.
Our company has been running a netting process for about 20 years, currently for more than 140 participants. As the stability and predictability of this process has always been highly appreciated by our members, migration had to be flawless. In 2011 we implemented Coprocess. The preparation and support of Coprocess staff was excellent. We had a smooth transition and have been working with the new system for almost 2 years now. Our netting process still runs as stable and predictable as it did before migration, but the value to our members has increased through the extended import, export and reporting functionality of Coprocess.
Very good customer service. One point of entry.
Easily adaptable system.
No software needs to be installed.
Custom needs can be implemented in the system.
We are using Coprocess for Reconciliation…we see huge benefits, it takes away manual Excel based recon process, solves issues where we used to be told frequently by business units ‘there is no response from counterparty’. Now we get the whole dataset, one person per country performing the upload of invoice information. We have 400 participants and around 300 of these have activity each month. Recon is phase 1 we are looking to move to phase 2 (centralized settlement in Netting) shortly.
We have used Coprocess as our netting provider for more than 10 years and I have been involved with the system for 9. We moved to the current internet platform over 4 years ago which provides on-line browser connection to our subsidiaries. The system has proved to be very easy to use and has worked flawlessly. Whenever we have needed support we have always found it to be excellent. We particularly value the SaaS (Coprocess hosting) the software as it frees internal resources from the problems of testing and upgrades associated with systems installed on our servers. The performance is always fast and very reliable and we can deploy the system to new participants quickly with minimal training overhead.
We have used the Coprocess Vendor Payments module for 4 years and are really pleased with the benefits of the system and the fact it is hosted by Coprocess. We appreciate the reliability and functionality of the system and hosting service and the simple deployment to new participants. Coprocess has been very supportive and responsive when it comes to adding new currencies to the system. Each new currency has required tailoring for the local clearing or specific country rules concerning the payment clearing or the bank chosen. The system has made the ‘payment on behalf of’ process possible for us in a very cost effective and secure way. We have reduced risk and promoted good Cash Management with large savings in FX, payment costs and improved liquidity.
We are getting close to completing our first year with Coprocess intercompany netting and are very happy with the system. The main incentive for us to implement netting was to improve the payment discipline within the Group; something that has improved substantially over the process.
We did a “big bang” implementation, including over 80% of our entities from start, and basically everything has been running smoothly since day one thanks to a user friendly system and a great customer support team.
Our company has been running a netting process for about 30 years, currently for more than 300 participants. Our company is using the Coprocess tool since 2001. In 2012, we implemented the new Coprocess.Netting tool. The preparation and support of Coprocess staff was excellent. We had a smooth transition and have been working with the new system for almost one year now. Our netting process still runs as stable and predictable as it did before migration. We are very happy with the new system.
The Pepperl+Fuchs group is using the Netting software from Coprocess since 2004. The invoice data is imported from the ERP system using an interface. Around 30 subsidiaries are participating. We see the Coprocess Netting software as very reliable and user friendly. The ERP system we use is Infor M3.
Die Pepperl+Fuchs GmbH nutzt die Netting Software von Coprocess seit 2004. Die Daten werden aus dem Buchhaltungssystem via Schnittstelle importiert. Es nehmen 30 Tochtergesellschaften an dem Netting teil. Wir bestätigen gerne, dass die Software von Coprocess sehr robust, zuverlässig und auch sehr benutzerfreundlich ist. Das von uns genutzte ERP System ist Infor M3.
Monica Holmström is the netting manager at Sandvik AB. Sandvik has been using the Coprocess Netting system since 2013, but Monica has over 12 years’ experience in using Coprocess Netting also at Atlas Copco and Assa Abloy. The key features of the system for Monica are, user friendliness, ease of implementation and a very flexible solution. Also the use of netting basis allows Sandvik to include companies in countries that have restrictions on netting. For 12 years Monica has had good support and fast support.
Techtronic Industries is a world-class leader in quality consumer, professional, and industrial products marketed to the home improvement, repair, and construction industries through the Milwaukee, AEG, Ryobi, Homelite, Hoover, Vax & Dirt Devil brands. TTI EMEA has been using Coprocess for the settlement of monthly intercompany payments for the last 7 years. With a typical month’s netting involving 26 participants, 11 currencies and the settlement of 5,250 invoices we’d be lost without it. We found the support and training provided by Coprocess during the upgrade from NTNetting to .Netting to be excellent, which meant that the users were able to quickly adapt to the new system. At the same time we migrated to a Coprocess hosted solution, the data migration of which was seamless. The technical help desk react quickly to any queries and have guided us through enabling enhancements such as invoice matching, the inclusion of forward fx contracts, and multiple currencies on the same statement to name a few.
We are using Coprocess Netting for 30 participants in North America, Europe and Asia. Our monthly netting is approximately 5000 invoices per month. We are receivable driven using matching and discussion and disputes module. The main benefits we see are the savings, information flow and payment discipline.
Reduced time spent for group‘s intercompany handling. Increased accuracy and efficiency about reconciliation and intercompany payments. No spreadsheets and manual input anymore. All intercompany transactions visible in a transparent on-line system.
The netting tool is working very well and has proved to be a great process improvement for our company that processes numerous invoices and payments. Accounting and finance personnel at the various businesses at first were hesitant to change their process that was well entrenched for many years but once they experienced the new process they have expressed their great satisfaction.
