Although treasury workstations are good at handling standard treasury functionality, they have always struggled with netting: the need to handle custom data interfaces and reporting with a global set of users with often vastly different levels of sophistication, a range of different pre-netting and netting calculation processes, and custom file import and export requirements. The plain vanilla netting module found in the typical TWS might have been good for the first client, but less so for all those who follow who may be forced into a predefined model.
That's why, when you need anything more than a simple netting function, a dedicated netting service will be much more effective.
EuroNetting is designed as highly modular and customisable application that can look completely different from one client to the next, while still using a core 80% of shared modules.
We host the EuroNetting service for all EuroNetting clients, including all clients of our banking partners who offer EuroNetting under their own white-label banner.
A client-hosted version is available, but no clients have ever chosen to go that route which would require in-house hosting and additional IT resources; in-house is just not cost-effective.
Because the EuroNetting application is running constantly on our networks with ample storage and performance capacity, new clients gain access to their netting service virtually instantly, ready for configuration and training.
Custom modules, interfaces and reporting integrate seamlessly into individual client configurations without impacting any other clients.
24 hours a day, 7 days a week.
From experience we know that our clients' users around the world need to access EuroNetting virtually 7 days a week, with just a brief slowdown between mid-Saturday and late Sunday (U.S. time) before your users in Australia come back online. So it's important that the networks are monitored not just 5 days a week, but 24*7.
That's where the advantages of a true cloud solution come in, with professionals monitoring your service and database, the hosting hardware, and its Internet connectivity around the clock, not just in daylight hours.
EuroNetting runs on a tier 1 enterprise platform. Comprehensive security, data retention and high availability technologies guarantee your netting data is available at all times, backed up by a license that guarantees industry-leading service levels and system availability.
Designed from the outset to operate over the Internet, EuroNetting incorporates industry-standard hardware and software security mechanisms and features to ensure access to your data remains secure at all times. We run antivirus and IDS (Intrusion Detection) on our firewalls, and all user interactions with the netting service take place over a secure web browser interface using SSL. User logon requires triple-element identification without the need for cumbersome token administration, with automatic user and source IP locking in the event of multiple logon failure.
Our databases are backed up in real time to secondary hardware to ensure there is never any loss of data. We retain a complete history of full backups of your data.
Your users are granted functional and entity-based access privileges to your netting system using a classic role-based structure; the composition of user roles and their assignment to your users are completely under your control and can be finely tailored to meet your specific requirements.
Established in 1992, EuroNetting is a consulting and technology company specializing in the design and hosting of highly customizable web-based multilateral netting and associated services.
In addition to our core multilateral netting service, we have delivered a range of custom services to clients including currency exposure aggregation and analysis, hedge tracking, loan tracking and sales tax validation.
During our 25 years in business we've provided netting and exposure mangement services to upwards of 120 large national and multinational corporations. We don't advertise a client list but we're always ready to provide references.
Our office is in Scottsdale, Arizona, USA.
Our first product, called 'Netting Workbench', was a pre-Internet classic Windows client-server application installed at each client site, with remote entry capabilities. Netting Workbench was renamed as 'EuroNetting' in 1998 to highlight the transitional euro-compliance calculations that along with the approaching Y2K date-handling issue caused older netting systems to fail, and we've retained that well-known name ever since.
We sold our companion product 'FX Workbench' to another treasury workstation vendor in 1998, and were pleased to see it continue life (and occasionally help old clients) under its new name for many years beyond the expected expiry date.
In 2001 we were the first tier 1 netting provider to make the move to a pure web browser-based netting service with no legacy software installed at the client's site. Version 1 of EuroNetting Online - since renamed simple as EuroNetting - was released in 2003.
EuroNetting can be licensed either directly from us, or though a bank or other treasury management outsourcing operator such as our partner Link Group Assets Services in Dublin, Ireland.
We offer a comprehensive license guaranteeing excellent service levels backed up by a 99.99% availability record since 2003, with a simple pricing model and no hidden extras.
All customisations - not only during implementation but throughout the license - are provided free of charge: import and export data intefaces, pdf, flat file and Excel reporting, and custom processes and calculation modules.
There are no up-front software purchase costs or initial configuration/training costs; just the annual license fee, which translates to a lower entry cost than offered by other providers.
EuroNetting has consistently led the field in innovation in multilateral netting technologies.
17 years ago we made the jump directly from a classic Windows client-sever application to the cloud-based single instance SaaS model now generally accepted as the best delivery method for treasury systems, successfully avoiding the hybrid models attempted and discarded by others.
We pioneered the use of dual-level invoice and balance netting for better information visibility, and our web system has always offered a user interface customised to each client's corporate identity.
Since the original version 1 of EuroNetting Online was released in 2003 there have been many developments in web technologies: new and more effective programming languages, new interactive techniques, bigger computer monitors providing more screen real estate that can display more information... but EuroNetting is so widely used around the world that our clients have consistently pushed back against any significant changes to the user-friendly interface they know.
So EuroNetting 4.0 is a careful upgrade that retains the same user interface structure - no user retraining required - but enhances it to make better use of more available screen space with larger and more attractive elements, intelligent search capabilities, and a
general update to the overall functionality based on 15 years of experience.
Behind the scenes the source code has been completely rewritten in a modern web language to guarantee long-term support and maintenance, and this opens the door to a broader range of capabilities.
The most noticeable enhancement is to the Excel reporting: version 4 now outputs true multi-sheet Excel reports that can contain virtually any element you can create in a native Excel worksheet.
Despite the fact that EuroNetting outputs data to clients' bank and ERP systems, Excel reporting continues to be a primary focus for many clients who need to analyse their netting processes and results -
particularly regarding FX hedging activities - and this upgrade will deliver a significant enhancement.
Other benefits from the upgrade are (even) faster processing, further enhancements to security, and comprehensive context-sensitive online Help.
EuroNetting continues to keep track with advances in server technology, and the new version 4.0 runs in IIS on Windows Server 2016, with SQL Server 2016 databases.
As of July 2018, all EuroNetting clients are now using Version 4.
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