TIRAN – Tool for Intercompany Reconciliation And Netting
This tool is fully functional and tested but has not been put into practice yet. We are looking forward to get in touch with parties that would like to use this tool and we will then make it available for free. Additionally we like to offer free support and training tp get you started.
Contact: Diederik Portheine, info@dpwise.com, mob +31 6 83797970.
How does it work?
TIRAN is a lightweight and straightforward internet application for structuring of the reconciliation process and the settlement of intercompany positions.
TIRAN works with a central database that is periodically topped up with intercompany invoice data from existing debtor and creditor ledgers. TIRAN then executes a first programmed reconciliation and presents remaining differences for follow up through a transparent and standardized workflow.
This then translates into a faster and better consolidation and reporting (fast close) together with control over intercompany positions and saving on bank fees in the settlement of these positions.
Characteristics of the tool:
- web based application
- 1 day go life (roles & settings) + cascading roll out (participants & netting scope)
- central IC transaction database
- easy & secure transaction capture
- automated workflow: capture – approval – settlement
- exception management routine: documented communication – escalation – arbitrage
- statistics on workflow performance and transactions
There are other solutions out there on the internet, but often as part of a package, not as lightweight and easy in use and costing considerably more.
Download: TIRAN (Tool for Intercompany Reconciliation And Netting)