"PROVEN NOT PROMISED" For over 30 years Coprocess has reliably delivered a superior Intercompany netting solution that benefits clients with greater cost savings, visibility, control and risk mitigation. The success of this solution is built on the following key elements:
Flexibility and Future Proofing
Because no two corporates are the same, the netting system you choose must be flexible enough to plug and play into your corporate environment and must be able to evolve with your changing requirements. For over 30 years Coprocess has continually enhanced and improved our netting solution. Today there are over 200 configurable parameters that allow us to implement the system exactly as the customer want and this also allow the system to adapt to changing customer needs.
Reliable, Secure, Dependable
Like a Swiss watch, above all a netting system must be reliable; it must be something that you can absolutely depend on month in month out. The data - your data - must be stored and accessed in a secure and controlled manner (see security). You also want to know that your provider will be around in the future. Paradoxically, for a relatively small fish in an ocean full of sharks, Coprocess can demonstrate more continuity, commitment and competence than any of the Banks or TMS providers. For example, look at the banks that have moved in and moved out of netting in the years that we have been in business.
The Features
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Matching / Reconciliation
- Upload, storage, automatic and / or manual matching of AP vs AR.
- Mismatch Analysis with totals and drill down to identify the individual invoices that are causing the mismatch
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Flagging (discussions and disputes) at invoice level with email auto-notification to counterparty
- Flexible currency management – Full, Currency, Gross, Home and Selectable
- Allows inclusion in the netting of countries with restrictive FX policies (Russia, South Africa, China...)
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Netting Statement
- Delivered by email or viewed on line or both
- Tailored formatting with optional invoice level detail
- With data file for booking back into ERP
- Mailshot
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All types of transactions can be included
- Invoices and /or Balances
- Spot deals / currency ask and offers
- Hedges
- Treasury transactions e.g. loans and deposits
- Multi-period
- Upload of all open receivables - the system can automatically allocate invoices to a (future) netting period based on due date
- Interface Builder
- Import and export from / to any file - csv, xml or WebService
- Interfaces with all the major ERP players including SAP, Oracle and PeopleSoft
- Settlement
- Multi currency Pools (sub netting centers)
- In house or Physical payment or both
- Over 40 interfaces to most commonly user Banks and Treasury Systems
- Secure deliver of payments (SFTP)
- Security
- Roles based
- Pluggable authentication. Single Sign On (SSO) using SAML 2.0
- Optional 4 eyes security (approval of changes by second user)
- Complete secured logging of all key events by all users
- Integrated Report Writer
- New reports can be created or existing ones modified
- Report can be output in many different formats: csv, txt, xls, pdf, xml, etc...
- Reports are linked to roles so that certain users get certain reports
- Stand Alone Solution
- Not a module. It is a purpose built solution
- Designed to Plug and Play into any Corporate environment
The Netting Cycle
The Coprocess Netting solution brings structure and discipline to intercompany by use of a Netting calendar which controls what has to be done, by who and by when.
The cut off determines the date and time by which you must complete a task, for example you must upload your invoices before the input cut off.
The number of cut off used in the system varies depending on the modules you need. If you are running a simple payable netting then there is only really one cut off - the input cut off - the date (and time) by which the users must upload their transactional data for it to be settled in the current netting. NB. There is a permission that allows a user bypass this control if needed.
In addition with the Coprocess Netting solution the calendar can be used to determine which invoices are settled in which netting cycle. Therefore invoices can be uploaded in one batch and the system will work out to which netting period they belong based on the due date of the invoice.
Normally Netting is run once a month but our system is capable of running any netting cycle, weekly, bi monthly quarterly etc all defined by the netting calendar.
Top tip: If you are reviewing other systems, check to see how they handle this. Without cut offs you cannot have proper control.
