TORONTO, July 26 (Bernama-BUSINESS WIRE) — Corpay¹ a FLEETCOR® (NYSE: FLT) brand and global leader in business payments, is pleased to announce that Corpay’s Cross-Border business has launched Netting Manager, a comprehensive solution that streamlines and automates the settlement process of internal invoices for corporations with global subsidiaries.
Netting Manager allows companies to operate seamlessly across the globe by simplifying the process of intercompany netting – a financial practice used by multinational corporations to consolidate transactions in various currencies. It involves offsetting mutual obligations between subsidiaries and centralizing payment flows. This not only reduces the need for multiple payments, but also simplifies the reconciliation process, resulting in both cost and time savings for businesses. Furthermore, it can help create visibility into consolidated foreign exchange exposures, making it easier and less costly to reduce foreign exchange exposure from the parent level.