Blog

Direct Communication is now available on AMC Banking Plus for Business Central In the new update of AMC Banking Business for Business Central we have added the possibility to set up a “direct communication” between your Business Central and certain banks from AMC’s shared services. This means that with some connection types…

Direct Communication is now available on AMC Banking Plus for Business Central Read More »

AMC Consult A/S is finally becoming a payment institution The PSD2 regulatory framework  After the revised European Payment Service Directive (PSD2) came into force in 2018, new regulation for payment service providers was introduced in the EU. To benefit businesses and consumers, the PSD2 sets new ground rules on the online banking playing field. PSD2 introduces strong security requirements for electronic payments and for…

AMC Consult A/S is finally becoming a payment institution Read More »

Changes to TLS protocol Microsoft and other leading browser makers – Apple, Google and Mozilla – deprecated Transport Layer Security (TLS) 1.0 and 1.1 in their browsers in 2018 and have completely disabled these versions from late 2020. What is TLS?Transport Layer Security is…

Changes to TLS protocol Read More »

New AMC Banking 365 Business App is now available on AppSource We are happy to announce we have just launched the newest AMC Banking 365 Business app. It is, therefore, important that you update your AMC Banking app, especially because the old version is being deprecated. The good news is you…

New AMC Banking 365 Business App is now available on AppSource Read More »

AMC-Consult A/S is proud to announce we have expanded across the Atlantic! Thanks to exponential growth in our US and Canadian markets, AMC Consult has opened our first North American office, AMC Consult Inc., located in Philadelphia, Pennsylvania. Having a presence here will undoubtedly help us service our current and future clients,…

AMC-Consult A/S is proud to announce we have expanded across the Atlantic! Read More »

STEP 10, Reconciliation By letting technology take over, you save time, reduce costs and work more efficiently. In account departments a great deal of the work of closing the accounts is still being done manually. Manual handling of transactions and reporting accounts is…

STEP 10, Reconciliation Read More »

STEP 9, Consider Zero Balancing of Account Increase company liquidity, improve interest result and reduce external debts. The primary target of each cash pooling is the optimization and use of funds of all companies in the company in order to reduce external debts and increase the working…

STEP 9, Consider Zero Balancing of Account Read More »

STEP 8, Consider Security In Your Payment Process Unlike the other steps where you would gain less costs, less effort doing the same work, or at least gain some more information regarding your business or payment process, the investment in security will not give you anything. The investment…

STEP 8, Consider Security In Your Payment Process Read More »

STEP 7, Consider Cash Flow Forecasting Why should I do forecast at all? First of all a forecast can help you with an overview of how your business is running. Is your business running as expected, you should be happy. If not, something probably is wrong.…

STEP 7, Consider Cash Flow Forecasting Read More »

STEP 6, Consider Analyzing Your Customers Country Normally when your customers are paying your invoices it does not cost you anything apart from few situations. Your customers transfer money to you as international payments (normally your customers are from another country) or you receive cheques. When an…

STEP 6, Consider Analyzing Your Customers Country Read More »

STEP 5, Consider Using The Reference Payments Unfortunately the use of this kind of payments will not save you any costs! So why use them at all… Reference payments are also known as structured payments, KID payments in Norway, OCR Payments in Denmark. Most countries have these…

STEP 5, Consider Using The Reference Payments Read More »

STEP 4, Consider the Use of SEPA Payments Some information regarding SEPA credit transfers SEPA is an abbreviation of Single Euro Payment Area. In this chapter we will focus on the credit transfers with SEPA and why to use it. Normally when you do international transfers (cross border…

STEP 4, Consider the Use of SEPA Payments Read More »

STEP 3, Consider Bank Account In Foreign Country Bank accounts in foreign countries do have the same advantage as discussed in previous article. You will save the exchange fee and the exchange rate, but you will also be doing domestic payments instead of doing international payments. Domestic payments…

STEP 3, Consider Bank Account In Foreign Country Read More »

STEP 2, Consider Bank Account In Foreign Currency Analyze your outgoing payments’ currency Like every other decision, you need to have some knowledge of your enterprise before you can take proper action. A very interesting chart is the distribution of outgoing currency payments. A chart could look like…

STEP 2, Consider Bank Account In Foreign Currency Read More »

STEP 1, Consider Analyzing Your Payments Cash management or treasury management is used as a broad description of the discipline of handling cash. In this series of 10 steps of better cash management we will focus on a company’s outgoing and incoming payments, typically paying of…

STEP 1, Consider Analyzing Your Payments Read More »