This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Xchanging Boosts Presence In Asia With Launch Of Insurance And Procurement Offerings

SINGAPORE, March 21, 2013 /PRNewswire/ --

Netsett - Global reinsurance and accounting net settlement service

Vault - Technology-enabled procurement platform designed to manage sourcing project workflow

Xchanging, the business process, procurement and technology services provider and integrator, today announced a strategic commitment to grow its Asian capabilities by introducing two core offerings, Netsett and Vault, in the region as part of its global services. These solutions are built upon the principles and benefits enjoyed by both the London insurance market and organisations using procurement to improve project workflow tracking respectively.

Streamlining cash flow for insurance carriers and tracking cost savings

The global reinsurance market is an increasingly complex and regulated business. Based on an existing service in the London insurance market, Netsett, a netting and settlement solution, was designed with the aim of improving the accounting and settlement of payments between participants in the global insurance and reinsurance community. By simplifying the netting and settlement between entities, the platform allows insurance groups to reduce the amount of working capital needed whilst improving transparency and control.

Following its initial launch in 2012, Xchanging is also introducing Vault to the South East Asia market. Vault is a technology-enabled procurement platform designed to manage sourcing project workflow across organisations. Vault measures, tracks and reports realised savings at both a commodity and business unit level. A common complaint among Chief Financial Officers is that they do not have sufficient insight into projected savings from the management information currently provided by Chief Procurement Officers. Vault enables organisations to capture business needs and monitor them throughout project milestones to track savings to the bottom line.

"As more multinational companies expand into Asia, they require global standards to ensure that their businesses are aligned with regulatory compliance," said Joe Poon, President, Asia Pacific, Xchanging. "Netsett and Vault are platforms that not only provide businesses a methodology to improve their efficiency but also ensure that there are clear structures and systems in place to measure results and support business outcomes."

In response to the region's growing demand for its core offerings, Xchanging has invested heavily in its manpower and resources. About 30 percent of Xchanging's current senior executive team in the region are recent hires from diverse backgrounds. This reflects the goal of a fast growing company aspiring to meet the market demands for innovation in the industry.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,461.13 +73.92 0.43%
S&P 500 2,038.65 +9.10 0.45%
NASDAQ 4,726.1890 +44.6920 0.95%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs