Intercompany accounting is becoming increasingly important in an era dominated by regulation and globalized trading. This issue can impact companies across all industries, and it can often create complex problems. And when mergers and acquisitions are added to the mix, it can stretch the capabilities of existing ERP systems to breaking point.
That's where Virtual Trader comes in. Our dedicated intercompany solution automates the entire intercompany process, ensuring that the whole lifecycle from initiation through to settlement is slick and efficient. Virtual Trader takes a holistic view of all intercompany processes and then automatically raises intercompany invoices and journals, making the process much simpler for your business.
Configuration is at the heart of the Virtual Trader package, with highly flexible business rules making it possible for the system to be configured according to your specific needs. All transactional data is retained as well, enabling insightful reporting to be implemented across your enterprise and providing evidential support for your intercompany activities.
We operate in over 200 countries - there's no way we could process intercompany at the transaction-level without Virtual Trader.
Fortune 100 Logistics Company
Virtual Trader is packed with powerful features:
Create entries for all parties simultaneously, in the same place, for the same amount, with a common reference
Automation of complex multi-tier legal entity postings
Full control over transfer pricing using advanced calculation options
All entries can be triggered via systematic or manual business events
Entries automatically posted back to the ERP of record for each legal entity
Integration with indirect tax engines
Full and automatic integration with the Virtual Trader Intercompany Subledger
Bring core ERP, legacy systems, and spreadsheets into one place
All activity with Virtual Trader is pre-reconciled at the time of creation, translating into efficiency savings and a competitive edge for your company.
Virtual Trader also makes it possible to react swiftly to changes in business complexity and legislation by enabling easy reconfiguration. With no coding involved, any company can quickly rejig its operations.
The application retains both business rules and transactional data, meaning audits can be dealt with seamlessly, data can be accessed and reported on in real-time, and companies can scale quickly as their business grows.
Virtual Trader helps you eliminate some of the most pressing problems in the intercompany field. For example, pre-reconciling every item enables you to prevent bottlenecks at period close.
The system also alleviates the manual labor required by reducing duplicated entries. This removes opportunities for manual errors and frees up staff to work on more productive endeavors.
By creating entries systematically at the time of the business event, Virtual Trader also helps companies create logical and joined-up processes that result in better business outcomes.