The NEOFI Netting clearing system allows you to manage your intra-group transactions while reducing associated processing costs. Maintain perfect visibility of your cash position and control credit and settlement risks within your group.
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Without a netting solution , intra-group operations generate numerous processing costs: bank fees, VAT, foreign exchange, administrative management, reminders, reconciliation, etc.
NEOFI Netting allows you to reduce these costs by grouping transactions from each period (week, fortnight, month, etc.) into a single payment. The net amount is received by a central and secure platform, the netting center which acts as an internal bank.
With NEOFI Netting , the subsidiaries do not bear the exchange risk: the rate is set by the netting center and the invoices presented by the subsidiaries are processed centrally in the reference currency of the subsidiary.
The subsidiaries submit their invoices to the netting system and designate the payer; the latter accepts or refuses the request. The netting agreement developed upstream harmonizes payment procedures: a calendar punctuates the netting cycle and sets the common intra-group payment date. Before maturity, each subsidiary knows its position and can cover it.
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NEOFI Netting clearing system is flexible enough to adapt to your organization, your environment and your internal procedures. It has all the settings to allow you to configure the netting system that meets your needs.
Four steps structure the netting process :
After netting, each member receives a summary statement of its position in local currency and in netting currency, the result of the compensation between its disbursements and its receipts.
To find out more, see our article dedicated to Netting .
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