Netting
Reduce inter-company flows
Reduce administrative workload, transaction fees, and FX and value-dating costs by standardizing and simplifying international settlements
Netting standardizes and simplifies the settlement of inter-company and third-party invoices, bringing them together at a single point. Just one single settlement will cover all payments due. This results in a vast reduction of administrative workload, and greatly improves the overall cost ratio.
Netting organizes and simplifies the settlement of invoices on a monthly basis. You gain tighter control and increased transparency of inter-company and third-party settlements.
- Standardized settlement process
- Less administrative workload
- Clear audit trails
- Lower transfer fees, competitive cut-off times and value dating, less foreign exchange costs
How Netting works
Translating payables and receivables
The net position of each subsidiary is calculated by translating all invoice payables and receivables to a common currency.
A single settlement for all invoices
Each subsidiary settles their netted position with one payment or one receipt. The settlement of all payments on the same day generates significant savings.
One platform supporting all services
Megabank is our electronic banking system. A secure online platform that is designed, customized and maintained to accommodate your requirements. Megabank supports all your cash pool, netting, sweeping, payment and reporting processes. It also features a self-service portal to manage companies, users, accounts, contracts and KYC reviews.
- Continuous updates to stay on top of regulations and security
- Ongoing improvements to meet your needs
- SWIFT, EBICS and host-to-host connectivity
- Clear audit trails