Accounting Challenges

The primary role of Intercompany Accounting (ICA) is to make sure legal entities don’t show a profit or loss on the parent company’s balance sheet, what is called ‘elimination’. This is an important process that can impact statutory reporting and cause business impact. So getting the process right is key. Yet, according to a survey by Deloitte, 92% of companies, at the time of the survey, have further room for improvement in their intercompany accounting.

Consolidating Intercompany payments into just one amount can bring significant benefits. Consider how many in-house transactions are created from hundreds or thousands of invoices every week, month or year. Then think about how much time and effort is involved in recording those payments accurately, handling invoices, compiling reports. The list goes on. At a large multinational corporation, think about the possible time saved by combining numerous internal transactions into a single payment.

We’re frequently asked “I have an In House Bank (IHB), why should I also use an Intercompany Netting solution?” – our response is you can get some of the same benefits from using an IHB to settle Intercompany Invoice Balances but to really maximize the FX savings, transactional savings and process improvements you should be doing both. The following are some discussion points to help identify the key differences between them.

Not convinced of the value of Intercompany Netting?

Then please take advantage of our free trial; provide us with a file of your intercompany invoices and we’ll run them through our system so you can see the effect of centralizing your FX and reducing payments.

Coprocess Netting is SaaS based and can be implemented in days, most of our customers have a ROI of 2-3 months.

Take a look, there is no commitment.

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.

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