Print
Coprocess Intercompany Netting

There are many reasons why selecting a specialist intercompany netting system, like Coprocess, has greater benefits than building multilateral netting into an ERP. Coprocess Netting can be implemented in weeks, can seamlessly interface to different systems as your needs change and is a fraction of the overall cost of an ERP development.

Coprocess vs Netting in an ERP

These are just some of the other key reasons why:

Expertise

Coprocess specializes in Netting and has done for nearly 30 years. Our clients save money and improve their efficiency every day using our automated intercompany netting system for total visibility and control over their settlements.

Functionality

Coprocess is a dedicated Netting Platform that has over 175 customers globally and is 100% focused on Netting, we offer workflow for discussion and dispute handling, can match thousands of invoices each month, provide statements in real time, requires no software to be installed locally, allows multiple settlement options and conversion rule at the business unit level and more. We continue to add functionality every quarter.

ERP do not have multilateral and multicurrency netting built in. They can often net AR and AP and automatically book an entry in the IC loan but it cannot do it multicurrency or multilaterally. Netting requirements would need to be specified by the Treasury department and built, probably by consultants. This will take Treasury time specifying the functionality and considerable cost. Once the ERP additional functionality is working it will be designed to work in a particular way, later changes will result in coding changes and more cost.

Coprocess is a powerful, out of the box, netting system. It is tailored to suit client requirements by simple parameter driven settings, not by coding.

Implementation

Coprocess can be implemented as quickly as clients can handle, we have done implementations from start to finish in under 2 weeks.

An ERP module?

Interfacing

Coprocess offers interfaces to all major ERP ‘s such as Oracle and SAP, invoices can be uploaded in a simple .csv file or automated via API. Invoices are visible to the counterparty immediately. Settlement of the netting can be via IHB or via cash to a bank via electronic banking or SWIFT etc and/or back to the ERP or TMS.

Today many clients interface their ERP to Coprocess via our API. This allows secure non-attended transfer of invoice level information in and out of Coprocess.

At the end of the netting cycle, netted invoices can be imported back into the ERP manually or with the API to close AR and AP sub-ledgers.

Availability/partnerships

Coprocess can be installed as a client run and client administered solution. It is also available from two major international banks and three outsourcing providers. This allows a choice of how to run the netting process, how to do your FX, licensing arrangements and get support from your existing provider and Coprocess too.

In Summary

Do please note that most of our clients have one or more ERP’s and a TMS!

For more details please visits our FAQ page at https://www.coprocess.com/faq.html

Submit to FacebookSubmit to TwitterSubmit to LinkedIn

Return to List View