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Case Study: How EuroNetting Helped a Leading Global Logistics Provider Implement Intercompany Netting
For over 15 years, EuroNetting has provided multilateral netting services to one of the world’s top freight forwarding and contract logistics providers. This client is currently operating in more than 100 countries with over 25,000 employees and generating in excess of $5 billion in annual revenue. In 2005, this client was searching for a treasury management solution to better manage intercompany cash flows using a multilateral netting system.
With no prior experience or netting system in place, this client faced a common challenge among multinational corporations of implementing a netting system. Obstacles included tracking large volumes of payments between entities, importing and exporting data into and out of a centralized system, and customizing their reporting process with a solution that is scalable, extensible, and customizable to meet the firm’s future expansion plans.
EuroNetting helped the client setup the multilateral netting operation by collecting data, identifying entities, currencies, users, implementing data import/export interfaces and reports, and testing to validate procedures. The end result enabled the client to establish a netting center to reconcile internal invoices between multiple parties and benefit from key distinguishing factors that helped in the areas of savings, efficiencies, and integrations.
EuroNetting helped one of the world’s top logistics providers successfully implement a multilateral netting system to better manage intercompany cash flows with a scalable, extensible, and customizable long term solution that is superior to spreadsheets and TMS/ERP modules. The client has benefited from EuroNetting over 15+ years, and continues to reduce their FX volume traded, realize efficiencies, and save on FX costs by approximately 70%.
"As a long standing client of EuroNetting’s multilateral netting software, we continue to be delighted by the practical and simple-to-use system functionalities. Furthermore, we appreciate the high responsiveness of the support team who demonstrates knowledge and flexibility in customization to meet our organization’s evolving needs.”
- Global Logistics Provider, Deputy Group Treasurer
To learn more about how EuroNetting can help your global organization, please contact us.