Overview
What is Virtual Trader?
Virtual Trader is an intercompany software solution that aims to automate and streamline intercompany transactions, reconciliation, settlement, and compliance processes. According to the vendor, this tool is specifically designed for large multinational companies and is utilized by various professionals...
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Product Details
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- Tech Details
What is Virtual Trader?
Virtual Trader is an intercompany software solution that aims to automate and streamline intercompany transactions, reconciliation, settlement, and compliance processes. According to the vendor, this tool is specifically designed for large multinational companies and is utilized by various professionals in finance and accounting, such as CFOs, controllers, tax professionals, and treasury professionals. It is also used by supply chain and manufacturing companies, as well as retail companies.
Key Features
Automate Intercompany Transactions: According to the vendor, Virtual Trader serves as a gateway and business-rules repository for intercompany activity, providing control over transfer price, cross charges, management fees, allocations, and tax agreements.
Seamless Intercompany Reconciliation: The vendor claims that Virtual Trader solutions automatically synchronize transactions, aiming to facilitate increased visibility and reduced period-close delays. It supports auto-reconciliation and matching of disparate intercompany transactions, including multi-instance, multi-system, and multi-COA setups.
Advanced Intercompany Settlement: Virtual Trader offers a dedicated intercompany subledger that acts as a single source of truth for the entire enterprise, according to the vendor. It tracks, ages, and settles intercompany liabilities at the transaction level, supporting cash pooling, multilateral netting, in-house banking, and integration with treasury systems.
Centralize Intercompany Compliance: Virtual Trader aims to help companies achieve tax and legal compliance by enabling intercompany invoicing and providing reporting capabilities, as well as maintaining a full audit history. The vendor claims it offers centralized compliance rules for global operations.
Automate IC Transactions: According to the vendor, Virtual Trader automates the creation of intercompany entries, aiming to improve visibility into intercompany balances and increase working capital. It enables pre-reconciliation from the outset and standardizes complex intercompany accounting flows.
Seamless IC Reconciliation: Virtual Trader is said to automate the reconciliation of intercompany transactions, aiming to increase visibility and reduce period-close delays. It supports multi-instance, multi-system, and multi-COA setups, providing API and web-service-based data integration.
Advanced IC Settlement: The vendor states that Virtual Trader's dedicated intercompany subledger centralizes intercompany activity and automates high-volume settlement, offering a single source of truth across the organization. It is claimed to automate the settlement of high-volume intercompany activity.
Centralize IC Compliance: Virtual Trader's enterprise-grade software aims to help companies achieve tax and legal compliance by providing intercompany invoicing, supporting reporting and full audit history, and offering centralized compliance rules for global operations, according to the vendor.
Complex IC Accounting: According to the vendor, Virtual Trader automates intercompany value chains, providing control over pricing methods and account entries. It supports multi-tier intercompany accounting, automates cross-charges, recharges, and indirect taxes, and offers real-time data access and reporting, supporting multiple charts of accounts and reporting ledgers.
Intercompany Shared Service Center: The vendor claims that Virtual Trader provides a dedicated subledger for all intercompany activity, automating the creation, reconciliation, and settlement of intercompany transactions. It supports multi-system and multi-chart of accounts, enabling the implementation of a shared service center model for intercompany and standardizing business processes globally.
Virtual Trader Features
- Supported: Accounts Payable
- Supported: Accounts Receivable
- Supported: Bank Reconciliation
- Supported: Billing & Invoicing
- Supported: Financial Reporting
- Supported: General Ledger
- Supported: Inventory Management
- Supported: Payroll Management
- Supported: Project Accounting
- Supported: Tax Management
Virtual Trader Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
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Operating Systems | Web-Based |