VICTORIA, BC and MANCHESTER, NH — (Marketwired) — 08/01/13 — Trucking and shipping companies looking for greater efficiencies and the higher profits that come with them would be wise to consider implementing with their shipping partners, according to , the North American subsidiary of UNIT4, the global enterprise software provider for Businesses Living IN Change (BLINC). Financial netting, which combines the payables and receivables of two companies into one invoice, can save companies the labor, time, and expense of issuing and processing dozens or even hundreds of invoices.

With trucking companies and shipping firms buying and selling freight, trade routes, and cargo, financial netting (also known as financial clearing) can automatically merge all of those transactions into one bill, saving considerable time, effort and the expense of bank fees and currency conversion costs. Now with a single transaction that amount is invoiced and put on the books of each company.

“Although the concept is simple — total receivables minus total payables in a single invoice — the benefits can be tremendous in a company with hundreds of thousands of individual transactions a month,” said Shelley Zapp, CEO, UNIT4 Business Software. “Further, implementing financial netting with a unified general ledger can provide a company with a real-time picture of payables and receivables, enabling rapid response to market changes and eliminating end-of-the-month surprises.”

UNIT4 Business Software is the North American subsidiary of UNIT4, a $624 million global business software and services company that creates, provides and supports software for Businesses Living IN Change. It offers solutions that help these fast-changing public, private, non-profit and higher education -BLINC- organizations embrace business change — simply, quickly and cost-effectively. , the company-s flagship Enterprise Resource Planning (ERP) suite and its best-of-class financial management software, are used by 6000+ organizations in more than 100 countries. For more information or follow the company on , and our company .

Margaret Bonilla
Birnbach Communications
Phone: (603) 548-0693
Email:

  financial-netting, logistics, transportation-accounting-software, transportation-management-software