- Savings by having fewer Payments
- Possible to close some accounts at subsidiary level
- No foreign currency payments raised at subsidiary level
- Savings by centralisation of Foreign Exchange
- Bargaining power towards banks and suppliers about volume and pricing
- Overall view of exposures and counterparty risks
- Better Liquidity Planning and control of Cash outflow
- Efficient Group financing
- Less time spent for payments in the Group
- Serves multiple legal entities
- Promotes netting of intercompany, cross-currency and third party payments
- Can facilitate and integrate with other cash management tools
- Automation of possibly manual processes and uniform IT approach
- Ideal for bulk weekly payment run
Features
- Stand-alone system or combined with the netting
- Designed with a simple interface and fast system response
- Interfaces to many popular ERPs
- Support for Sarbanes-Oxley, e.g dual control, dual approvals, etc.
- Flexible workflow to match your company working practices
- Hosted by Coprocess or installed in-house
- Single shared SaaS for fast deployment and ease of ownership
- Flexible period, settlement per week, per month, etc.
- Flexible grid to filter data
- Access rights based on roles
- Integrated report builder
- Historical data is archived
- Audit report
- Flexible payment formats to SWIFT, banks direct or electronic banking platforms
- FX confirmations
- Supplier advices and files of paid items with invoice numbers, contact details
- Error checking including SWIFT code validation and local payment format validation
- Support for XML 2022, SEPA, BACS etc local payment formats, printing of drafts
