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SimplyFI Softech India Pvt Ltd

About Intercompany


The world’s only Enterprise Blockchain solution for Intercompany purchases and sales.


The reconciliation and settlement of a company’s Intercompany trading balances is a challenge that grows exponentially with the number of subsidiaries. Intercompany transfers are estimated to equal 30 – 40% of the global economy. They trigger legal requirements, accounting challenges, operational stresses, and tax responsibilities.


Mishandled Intercompany Transactions could result in a material misstatement of a company’s financial statements.


Blockchain is an efficient way of providing Transparency, and Traceability in Intercompany Transactions. As per a review done by the International Data Corporation, 45% of industry leaders will use Blockchain as the primary Intercompany Transaction Management Technology. The data is completely in control and secure no matter whether it is hosted on Cloud or into your IT landscape.


An Intercompany Transaction on Blockchain serves to validate transfers and create a shared record. The ease of transactions and audit trail empowers with traceability of every transaction. The Distributed Ledger System empowers the movement of wealth and the sharing of information on a single-source database.


The Intercompany transaction on the Blockchain promises to positively impact your costs, your risks, and your flow of information.

Features



SimplyFI Softech India Pvt Ltd
Near Realtime Intercompany Reconciliation

Makes the process even faster

SimplyFI Softech India Pvt Ltd
Automated Dispute Settlement

Seamless Benefit of interconnecting various entities easily and quickly

SimplyFI Softech India Pvt Ltd
Integration with existing ERP’s

Ease of setup of and robust in functionality

SimplyFI Softech India Pvt Ltd
Complete Transparency

Seamless benefit of interconnecting various entities easily and quickly

Real-time Audit Compliance

Continuous monitoring and continuous auditing.

Benefits



Intercompany Transactions on Blockchain

Error Reduction

Reduce risk and logistic costs

Intercompany Transactions on Blockchain

Real-time Validations

A paradigm shift to bring real-time accounting

Intercompany Transactions on Blockchain

Reduced Audit Costs

Quicker wire transfers at a lower cost

Intercompany Transactions on Blockchain

Increased Transaction Transparency

Promotes transparency in the financial sector

Intercompany Transactions on Blockchain

Smart Contract Enforcement

Smart contracts with a self-executing algorithm

Intercompany Transactions on Blockchain

Fraud Minimization

Rooting out money launderers & terrorist