Foreign Trade – Flexible Solutions for Documentary Business

Transparency and efficiency for Letters of Credit and Guarantees

Transparency throughout the whole process is the key to successful documentary business. For corporates who deliver or receive products internationally, complex and risky commercial transactions are a part of regular daily business. In order to provide proof of proper and timely delivery of the products, and to secure payment, a number of documents are required.

The MultiCash® add-on “Foreign Trade” provides a suite of applications for documentary business, allowing you to manage the necessary documents efficiently and centrally. The solution consists of modules for import-side and export-side letters of credit as well as for guarantees, which you can mix and match to meet your requirements.

Main functions include the creation of documentary credit instructions, initiating and managing changes and monitoring the history of the transaction. Users particularly value the options to define and re-use templates and the diary management. Even if your bank is not yet able to support this type of business electronically, the MultiCash add-on ensures that the internal efficiency levels will increase. In addition, the open interfaces allow details to be transferred directly to and from the ERP system.

All steps within the workflow are documented transparently, so that you have an overview of the status of all your transactions at all times. In addition, the exact chronological development of each transaction can be traced using the history function. Since reporting is of particular importance in foreign trade, a range of predefined reports are available, which can be adapted to each corporate’s requirements.

Benefits of Foreign Trade

  • Support of the new formats for documentary business according to the DFÜ-Agreement of the German Banking Industry Commitee as of November 18, 2018
  • Automates the exchange of documentary transactions with banks, reducing the number of paper-based processes
  • Increases the level of control by means of internal electronic data storage
  • Ensures that transaction information is always up-to-date
  • Supports tracking and monitoring via a detailed history function
  • Improves efficiency and transparency due to standardization and flexible reports
  • Provides audit-proof traceability, including document copies for internal use