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Why Keplaax?

Our conclusion

Companies are faced with a number of challenges to ensure cross border transactions are carried out seamlessly. It needs an automated system that can guide it from start to finish with minimal human interaction. A system that ensures transactions are permanently reconciled from the moment the transaction is approved, and can automatically apply all the rules and regulations, taxes, and Transfer Pricing so the burden is removed from the users without errors. A system that integrates with your ERPs where local ERPs are updated automatically for every transaction, so everything is recorded without errors.  A system that can automatically settle the balances and cash is not held up. A system that allows total treasury management. Finally, a system that regulates Bad Actors and drives the right kind of behaviour in this ecosystem.

This system would alleviate the frustrations and eliminate the distractions for users, and maximize the efficiency of the company with minimum human interaction. It would be accountable and yet simple.

Our solution

There isn’t a single system in the market that can do all of that. At Keplar Limited, our cloud based Keplaax block-chain platform using decentralised ledger technology(DLT) with Smart Contracts will be able to help companies to achieve this in a seamless manner where complex transactions are simplified, automated, and compliant with all rules & regulations. Once a transaction is approved, no further human intervention is required.

Smart Contracts use to calculate specific country and business based Transfer pricing, taxes, and duties to conform with all rules and regulations. It will then post it to the relevant ERPs automatically and simultaneously so that the transaction is always correctly reflected and always reconciled. It will automatically settle the balance due on the agreed date and regulate Bad Actors, to drive the right kind of behaviour. Finally, Smart Contracts will be used to regulate dispute resolution employing game theory behaviour to minimize disputes and reduce the resolution time.

It uses a private, permissioned -based Blockchain -Decentralised Ledger Technology and has the following properties:

  • Private – only the companies within the group are included
  • Permissioned based – only users with permission can access Keplaax
  • Privacy mask – only participants in the transaction can view their transaction
  • Fully integrated with ERPs
  • Smart Contracts – these are used to simplify and automate complex multi-jurisdiction transactions ensuring rules and regulations, taxes, and Transfer Pricing are adhered to. Also, used to automate settlement
  • Approved transactions – only those approved can be recorded on the Keplaax, ensuring constant reconciliation.
  • Settlements are automatic via Smart Contracts. Can use both fiat and tokens
  • Treasury management – set rules for liquidity management
  • Bad Actors –  regulated through tokens in the use of game theory to drive the right kind of behaviour

Complexities made simple

Cross-border transactions are complex: Code designation for goods, taxes, duties, Transfer Pricing, and Rules & Regulations are some of the things it must comply with. On the Keplaxx platform, these transactions are executed automatically, including settlement and updating the local ERPs. It is totally accountable, transparent, shared, compliant, and fully documented. Companies don’t need to worry about conforming with all the different rules in different countries, the platform will do that.

Single source of truth

Approved transactions and settlements are automatically updated in the local ERPs in the right accounts without human intervention which means there is only one single source. No longer where each ERP has a different version of the truth that causes disputes.

Always reconciled

The transactions are always reconciled and matched from the moment it is approved. No need to frantically agree and match these at the period end.