Netting for logistics
The one stop shop for Netting, Financial& Treasury Management in the Logistics IndustryNetting is an Inter-Company Clearing system, designed to settle international debts among trading partners. Clearing systems are what are used by banks to settle, by way of “Netting Off”, their transactions with each other. Typically companies involved in international logistics have many administrative problems that can easily be solved. If not solved they detract heavily from the efficient running of the business.
Do you recognise any or all of the following problems ?
- Collecting debts from overseas agents & offices in a timely manner
- Costs in making numerous international payments each month
- Costs in receiving numerous inward remittances each month
- Lack of certainty as to when you will be paid – and so when you in turn can pay your Trading Partners
- Administrative effort in managing Accounts Receivable and Accounts Payable, including the time taken to post accounting and bank entries
- Time and cost spent on querying invoices and in dispute resolution – correspondence, phone calls copying and sending documents, delays, excuses…..
- Time spent on Inter Company /Intra Group quarter end reconciling and reporting