The NEOFI Netting clearing system allows you to manage your intra-group transactions while reducing associated processing costs. Maintain complete visibility into your cash position and control credit and settlement risks within your group.
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Without a netting solution , intra-group transactions generate numerous processing costs: bank charges, VAT, foreign exchange, administrative management, follow-up, reconciliation, etc.
NEOFI Netting allows you to reduce these costs by consolidating transactions from each period (weekly, fortnightly, monthly, 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 , subsidiaries do not bear the exchange rate risk: the rate is set by the netting center and the invoices submitted by the subsidiaries are processed centrally in the subsidiary's reference currency.
Subsidiaries submit their invoices to the netting system and designate the payer; the payer then accepts or rejects the request. The netting agreement, established beforehand, standardizes payment procedures: a schedule governs the netting cycle and sets a common intra-group payment date. Before the due date, each subsidiary knows its position and can cover any outstanding balance.
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NEOFI Netting compensation system is flexible enough to adapt to your organization, environment, and internal procedures. It offers all the parameters you need to configure a netting system that meets your specific requirements.
The netting process :
After netting, each member receives a summary statement of their position in local currency and in the netting currency, resulting from the offsetting of their disbursements and receipts.
To learn more, see our article dedicated to netting .
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