GTreasury, a treasury and risk management platform provider, today announced the acquisition of Coprocess, a provider of intercompany netting solutions. Adding intercompany netting to the GTreasury platform and ecosystem gives corporate treasurers the ability to significantly streamline their settlement processes, cut costs by reducing payments and FX volumes, and add new automated efficiencies into their treasury workflows.
“GTreasury continues to look for ways to empower corporate treasurers to do their jobs more effectively, more efficiently, and with less cost to their organisations,” said Renaat Ver Eecke, CEO, GTreasury. “The complexities of doing business across countries and across banks continues to grow, and the technologies that treasurers rely on must keep up with that pace. Acquiring Coprocess does exactly that for our clients. Coprocess brings expertise in multilateral netting, and we’re extremely excited to welcome the Coprocess team, learn from them, and jointly build new and fully integrated solutions that will directly benefit our customer base.”
Treasurers using Coprocess regularly see payments and FX volumes lowered by as much as 70%, while also benefiting from more centralised banking relationships and reduced float and complexity. Real-time intercompany reconciliation capabilities deliver visibility into intercompany transactions, interest, loans and treasury transactions – eliminating mismatches and facilitating automatic reporting. Fully centralised vendor payments further simplify often-costly and time-intensive treasury operations. The Coprocess solution is also highly configurable to businesses’ unique netting processes and organisational structures, and easily incorporates into treasurers’ existing architectures.
Combining the leading netting system with GTreasury’s extensive cash, payments, FX, and risk management capabilities provides treasurers with an extensive, easy-to-use, and end-to-end solution for optimising their treasury processes and workflows. The acquisition also continues to build the momentum of the GTreasury platform. “We saw record transaction volume flow though our treasury management ecosystem in 2020,” said Ver Eecke. “To continue to meet our clients’ needs, we’ve been signing key partnerships with banks and complementary technology providers, expanded our platform through new innovations like SmartPredictions™, our AI-fueled cash forecasting, and executed on strategic acquisitions such as with Visual Risk and now Coprocess.”
“Like Coprocess, GTreasury has long been a trusted technology partner to organisations around the world,” said Andrew Goldie, CEO, Coprocess. “They understand that continual innovation is critical to ensuring treasurers can do their jobs faster, with more accurate foresight, and as cost-efficiently to their businesses as possible. We share these aims, and look forward to a great future for Coprocess within GTreasury. We are excited to put our comprehensive netting solution into the hands of more treasurers.”