It is now easier than ever for companies to reach a global audience. There aren’t as many barriers standing between businesses and their clients, and goods and services can be delivered nearly anywhere.

This doesn’t mean, though, that multinational organizations don’t face unique challenges, and this is especially true when it comes to their accounting and banking needs. Enterprises that provide services in more than one country must have a robust support network in order to make these global transactions work.

Global banking relationships: Technology integration

“Enterprises that provide services in more than one country must have a robust support network in order to make these global transactions work.”

Among the most critical considerations here are the relationships multinational businesses maintain with their banking partners. Companies must have partnerships with both large, expansive banks, as well as smaller, local banks, depending upon their operations and geographic regions they serve. As Treasury Practice Lead Craig N. Martin wrote for the Association for Financial Professionals, managing these relationships can be a challenge.

“Fundamentally, there is an underlying tension between having a wide enough banking group to provide all the services required and a small enough number of banks that can be managed efficiently and rewarded appropriately,” Martin noted.

Not only is this a time-consuming process – which, as Martin pointed out, grows exponentially more time-intensive as the number of banking partnerships an organization has increases – but maintaining these relationships is also incredibly complex.

One way to address these challenges head-on is with an automated banking solution that supports robust integration. In this way, multinational and global organizations can create more effective connections with their banking institutions, enabling important automated functions like vendor payment and customer payment, which we’ll discuss further below.

This level of integration is imperative for global companies. Capabilities like this can considerably simplify management of banking relationships, while also cutting down on the time it takes to reconcile payments – a benefit for business user accountants, their banking partners and the company’s customers.

Streamlining payment with automation

As noted above, automation is key when it comes to supporting global transactions. In the past, critical functions like cash management, vendor payment and customer payments were all done manually by a company’s internal finance team. This wasn’t just considerably time-consuming – it was also problematic for vendor partners and clients as they waited for payment to be matched up and reconciled.

Thankfully, these challenges can be addressed with advanced automation, like that provided by SKsoft leading banking and treasury solution. Global companies should seek out technology that offers:

  • Unattended reconciliation as well as customizable matching and mapping capabilities for cash management.
  • Printed check protection and email notification for automated vendor payments.
  • Auto-matched invoices for processing automated customer payments.

Multinational companies supported by treasury solutions that include these automated functions put themselves in the best position to streamline payments to customers and partners, prevent delays and increase overall satisfaction.

SK GlobalSK Global Software

Staunch security

Finally, multinational companies seeking to better support their global transactions must have robust security and risk management capabilities. In the current threat environment, any company can be a target for hackers, especially those with larger revenue streams spanning multiple countries.

For these reasons, global businesses must have an automated banking suite that includes security for processing payments according to PCI DSS standards, as well as protection against fraud. These measures can help guard against data breaches and fraudulent activity, ensuring that file and payment transfers are safeguarded and customers as well as business finance managers have peace of mind.

Managing global transactions can be a challenge, but with an automated banking solution that supports integration as well as security, multinational companies can put themselves on the path to success. Contact SKsoft today to find out more.

Learn About Bank Reconciliation 

Going to Microsoft Ignite 2017?  

Great, so are we! Meet SK Global Software at Microsoft Ignite 2017 to learn more about how the Banking and Treasury Automation Suite for Dynamics 365 Operations can benefit your organization.  Please schedule an appointment already now, at the bottom of this page. We are looking forward to seeing you!

Microsoft Ignite 2017 is a great networking event, with access to the latest technical news and training where you can discover new innovative tools and solutions of the future. Stay ahead of the game, as you network with and draw on expertise from other experts within your own field. Experienced Microsoft Dynamics users and partners will lead instructional sessions, showcases, and how-to’s, focusing on past and current versions of Dynamics 365, Dynamics AX, Dynamics NAV, Microsoft CRM, and Power BI, and much more.

We have recently released the Banking and Treasury Automation Suite for Dynamics 365 Operations Version 9, this is a major update, with significant feature and product additions. If you haven’t yet, please check our post here for more details. At Microsoft Ignite, you have the chance to see the newest features first-hand. Our solutions and expertise cover the following areas:

  • Treasury Automation Suite for Dynamics 365 Operations
  • Banking Automation Suite for Dynamics 365 Operations
  • Revenue Automation for Dynamics 365 Operations
  • NEW SOLUTION: Credit Card Advantage, handle Credit Card Payments directly from within Dynamics 365 Operations !

Access 1,000+ hours of content at Microsoft Ignite, 700+ sessions, insights and roadmaps from industry leaders, and deep dives and live demos on the products you use every day. Browse 100’s of sessions and start planning ahead; Plan your session here.

Explore the Expo:
Get your questions answered from the people who built the products you use everyday. Talk with partners and get free swag! So make sure you will connect with our techies and sign up today and get updated on our solutions and latest updates and learn from peers tackling similar challenges. Share best practices and come home with new ideas.

Meet SK Global Software at Microsoft Ignite 2017

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Within the last few decades, a number of transformations have taken place in the financial services industry – from more advanced and secure payment cards to new forms of digital currency, this sector is changing faster than most. What’s more, one of the biggest shifts is still on the horizon – the addition of real-time payment capabilities.

Currently, many financial services institutions are preparing to support real-time payments. As these systems begin to be deployed, it’s worth taking a look at where we stand with this transition and the value real-time payments will bring once fully rolled out.

Progress of real-time payments

The Clearing House’s Senior Vice President Steve Ledford told Forbes the transition to real-time payments will be a gradual process, but the ultimate objective is to get as many institutions involved as possible. The organization is spearheading the rollout of RTP technology across the financial sector in the U.S.

“The ultimate objective is to get as many institutions involved as possible.”

“Our goal is to reach ubiquity as quickly as we can,” Ledford said. “Not all 10,000 banks will sign up at once, but very soon we will do an initial set of early adopter banks – pilot activity around business to business. Then very rapidly we will be ramping up from that point … I think [a] substantial part of [the] country will be covered by mid-2018.”

The Clearing House currently has its real-time payment infrastructure set up in two secure and redundant data centers, each supporting two iterations of the system. In this way, the infrastructure is as reliable and resilient as possible. TCH is also partnering with other vendor organizations to streamline the deployment process alongside rising demands for real-time payment capabilities.

“We are in discussions with partners who can bring in the thousands who want to go live,” Ledford said. “I think [this is] a faster ramp-up of this new payments system than we ever [have] in the past.”

RTP is coming to the U.S. - and fast.RTP is coming to the U.S. – and fast.

The benefits of RTPs

While there’s typically hesitation toward newer technologies – specifically in the financial services sector, where privacy and data security is key – real-time payment systems are receiving considerable interest from large and small institutions. When one considers the advantages this type of payment can offer, it isn’t difficult to understand the rising demand. Some of the benefits financial institutions and their customers can reap from RTPs include:

  • Comprehensive communication: JPMorgan Chase pointed out that current, traditional payment systems can leave gaps in communication, especially when it comes to the status of funds. Obtaining this information required the individual to go outside the payment system, where payers and payees had to manually track down payments themselves. This will all become a thing of the past with real-time payments, as the technology supports bi-lateral communication with two-way messaging capabilities. In this way, payers and payees will never have to wonder when or if funds will be received.
  • Anytime payment capabilities: One of the leading advantages of RTP systems is the fact they are available 24 hours a day, even after a financial institution has ended its business hours. Payments can be processed at any time, meaning there’s no need to wait for the start of a business day for payments to be received.
  • Consumer analytics potential: RTPs require the use of the ISO 20022 standard framework, a system that can create opportunities for data gathering. According to Accenture, this information can be analyzed to get a better understanding of the customer, helping financial institutions inform marketing and other efforts.
  • An opportunity to modernize: The financial services industry has historically been bogged down by legacy technology, but RTP systems could provide an important opportunity for institutions to update their IT infrastructure.
  • A global standard: Accenture predicts that within the next five years, global real-time payments could be possible, creating a more unified financial services industry.

Real-time payments are poised to considerably shift the financial services sector, providing real value for service providers and their customers. However, in order to take full advantage of this technology, it’s important that financial services providers have the right processes and solutions in place. To find out more, contact the experts at SK Global today.

Focus: Banking & Invoicing

We are excited to invite you to this seminar, hosted in a collaboration between SK Global Software and AXLOGIC.

In this seminar, learn how you can optimize Vendor Payments, Invoice Workflow and Direct Debit in Microsoft Dynamics 365 Operations!

The Seminar will focus on the following main topics:

Supplier Payments
We have improved Accounts Payable even more. Integrate directly to your Bank (s), Automate and Streamline the process further. We have new features ready in our latest product update.

Direct Debit
Use the possibilities of Direct Debit (Payment Agreements) to the fullest. We have a brand new module ready that makes it possible to get the most out of your payment agreements in Dynamics AX and Dynamics 365 Operations.

Invoice Workflow
Automate the invoice process with the ExFlow solution. A fully integrated solution for Dynamics AX and Dynamics 365 Operations. Minimal maintenance and setup, maximum automation!

We will be hosting 3 Lunch & Learn seminars, located in Denmark:

  • March 17: Odense, Hotel Plaza, Time: 10-14 AM.
  • March 24: Copenhagen, Microsoft, Time: 10-14 AM.
  • March 31: Aarhus, BESTSELLER, Time: 10-14 AM.

Register for the Seminar here:  Seminar has finished

We welcome you into a great environment, with free food and drinks.

Note the following:

– Our Lunch & Learn event is free!
– Registration is required!
– “No Show Fee” on 250 Kr (Donated to a charity, this time to: Christmas Tree Fundation)
– There will be a limited number of seats, so register today!
– Details will be send as you sign up for the event

Both solutions are certified for Microsoft Dynamics 365 Operations.
Find the solutions and additional information via Microsoft AppSource below:

Microsoft AppSource / SKG
Microsoft AppSource / SignUP

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We are proud to be presenting two new key employees to the team:

Pia Berg, Services Manager and Consulting Lead: Our new Services Manager and Consulting Lead, based in our office in Denmark. With Pia’s background and many years as a Senior Microsoft Dynamics AX Finance and Solution Architect for some of the largest AX clients in the world, she will add significant expertise and experience to our already strong SKG Team.

In addition, Pia’s many years’ experience as an end-user of both Microsoft Dynamics AX and the Banking and Treasury Automation Suite give her an inside, hands-on understanding of customer needs.

Luis Bolorino, Chief Technical Architect: We are very excited to welcome Luis to our U.S. team. Luis is a well-known technical heavy hitter, bringing a wealth of Microsoft Dynamics AX expertise and visionary skills to the SKG organization. Luis will be instrumental in serving our growing customer base. As an experienced prior Microsoft Dynamics AX Senior Consultant as well as Senior Architect, Luis will help bring SKG and customers’ visions to reality, through ongoing Product Development of the Banking and Treasury Automation Suite for Microsoft Dynamics AX.

Welcome to SKsoft, the leading provider of Banking, Treasury, and Revenue Automation solutions for Microsoft Dynamics AX.

Contact

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SK Global Software partners with Jakobsen Consulting, together offering expertise to customers looking to increase financial operations efficiency by automating banking and treasury processes in Dynamics AX.

Jakobsen Consulting is an established Microsoft Partner with first class implementation and support capabilities for Microsoft Dynamics solutions. Based in the United Kingdom, Jakobsen Consulting has a proven record of accomplishment for delivering complex solutions across a wide range of industry sectors across the globe.

 

With the new partnership, Jakobsen Consulting will be ready to offer current and future customers even more value from their ERP investment.

 

“Automation is such a key factor today for all companies looking to increase efficiency, lower their operational cost, and be ready for further growth. The solutions from SK Global Software really enable us to help our clients realise this within their financial operations.” – Jimmi Jakobsen, Jakobsen Consulting

 

SK Global Software’s Banking and Treasury Automation solution for Microsoft Dynamics AX is today being used by more than 1,400 Microsoft Dynamics customers globally, enjoying out-of-the-box integrations to their banks, both domestically and internationally, while streamlining and automating processes around Bank Reconciliation, Vendor Payments, Customer Payments, Advanced Cash Application, and more. All within a Microsoft Dynamics AX certified solution.

“We are excited to partner with Jakobsen Consulting, who have proven their expertise within Microsoft Dynamics AX across several industries. We are all about strong, close partnerships where we together can provide true value to end-customers, and with Jakobsen Consulting we are certain to be doing just that.” Jonas Andersen, SK Global Software

If you would like to learn more about the Banking and Treasury Automation Suite, Jakobsen Consulting, or SK Global Software please reach out per contact details below.

 

About Jakobsen Consulting

Jakobsen Consulting is an established Microsoft Partner with first class implementation and support capabilities for Microsoft Dynamics solutions. With delivery capacity covering a wide range of Microsoft-based technologies, their consulting team possesses a breadth of domain knowledge and experience associated with some of the highest quality skills and capabilities in the ERP industry today. Read more here on www.jakobsenconsulting.com

 

About SK Global Software

SK Global Software is a software development company dedicated to providing quality value-added software solutions for Microsoft Dynamics™. The Microsoft Dynamics Certified ISV is known around the globe for its eBanking Suite for Dynamics AX and Dynamics SL, and Treasury Automation Suite for Microsoft Dynamics AX. We pride ourselves on working very hard to build and maintain high-quality software and building long-term relationships with the Microsoft Dynamics user and reseller communities. Read more on www.sksoft.com

Contact

Jakobsen Consulting

Joel Mundy, Business Development Director

(+44) 1372 417 195

joel.mundy@jakobsenconsulting.com

 

SK Global Software

Jonas Andersen, Director of European Markets

(+45) 20.61.45.75, (+1) 404.642.0560

jandersen@sksoft.com

Are you looking to help your clients realize exceptional value for money, increase efficiency and guarantee a strong return on their ERP investment? The solution from SK Global Software offers just that.

Automation of financial operational processes that will make your clients more profitable, and more efficient, even faster!  


Our Partner Onboarding Process

Join our SKG Partner Network — more than 400 Microsoft Dynamics Partners reselling our solutions globally.

Our onboarding process includes a mutual evaluation of both organizations, ensuring that your time as well as ours will be spent only on a strong, synergistic partnership. At a high level the onboarding process consist of 4 key steps:

Step One: Overall Fit

We will engage in an in-person meeting between management representatives from each of our organizations. During this meeting we will be assessing our overall alignment of strategy, business focus, and skills fit to evaluate our overall partnership fit.

Step Two: Solution Demo and Feedback

Upon agreed overall fit, we will conduct a full Demo of our solution to your organization (Including key Functional Consultants, Technical Consultants, and Pre-Sales Consultants) to evaluate our solution for your customer base and prospective clients. We will ask you to evaluate and rate our solution accordingly, providing direct feedback on perceived market and customer fit for your organization’s focus.

Step Three: Strategy Workshop and Full Training

If common ground is found, the essential next step for both organizations will be a combined Strategy Workshop plus Full Training on our solution, running in parallel.

The Training will be a full training on our Banking and Treasury solution for Microsoft Dynamics AX. Depending on the size of your team, this training will take 2-3 days, and consists of in-person training, hands-on exercises, and a certification test.

The Strategy Workshop will be conducted in parallel by management team members from both organizations. During this session we will finalize our Partnership Agreement, agreeing on Goals and KPIs for our ongoing partnership. Duration for the Strategy Workshop is 1 day.

The total duration is typically 2-3 days, onsite at your premises.

Step Four: Official Partnership Announcement + Campaign Initiation

Upon completing a successful training and certification on our solution and with a signed Partnership Agreement, we will publicly announce our Partnership, and be ready to kick-off our first joint marketing campaign within your region immediately.

 

Ready to join? Contact us now to learn more about becoming a reseller of our solutions.

 

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Automatic Bank Reconciliation for 100 pounds per month

We love the UK, and we want more UK companies to love us — it’s that simple. As we continue to expand our presence throughout Europe, we have set our eyes on the UK, and we’re ready to add more happy customers right now.

This offer is

  • Applicable to United Kingdom based companies
  • Running Microsoft Dynamics AX 2009 or AX 2012
  • Automated Bank Reconciliation for 100 – 300 pounds per month
  • For the first 5 companies only.  This offer expires by the end of August 2016.

This is an exceptional deal. If you want to read more about the benefits of automating the bank reconciliation process please refer to our article

If you are interested contact us now.
This offer is limited to the first 5 companies only.

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Short Intro to SKsoft 

  • Microsoft Dynamics AX ISV
  • 22 years experience in ERP and Banking Integrations
  • +1450 Microsoft Dynamics Customer Globally
  • 12 Years Consecutive winner of Microsoft Presidents Club Award
  • We believe in automation of financial processes!

In order to enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX, you will need a solution that goes above and beyond the standard Microsoft Dynamics AX functionality. You will need a solution which is built specifically to handle Automatic Bank Reconciliation in Microsoft Dynamics AX, a solution that is fully embedded within — and Microsoft Dynamics AX certified.

With the Automatic Bank Reconciliation solution offered by SKsoft, you can enjoy the following

  • Easily deployed, installed and configured
  • Unlimited and guaranteed banking coverage worldwide
  • The direct integration to your bank is provided “out of the box”, ready to plug and play
  • Enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX
  • Automate across any number of bank accounts, legal entities, and currencies
  • Automatic and unattended mapping and matching of all transactions, even automatic creation and posting of missing general ledger entries
  • The unattended process runs in the background, only notifying you if any exceptions need your attention
  • Run the process at any interval, monthly, weekly, daily
  • Access to full history log that you can review at your convenience
  • Highest level of security with direct and automatic communication directly between your ERP and your bank

 

Contact us today. This offer is limited to the first 5 companies only.

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Are you still spending time doing manual bank reconciliation? 

Bank Reconciliation is a dreaded process for most financial operators. This is the work of ensuring that your bank and general ledger balances are in sync. Ensuring that there are no inaccuracies can be a daunting task — whether you work with just one account or with thousands.

This is because the process is much like finding a needle in a haystack. Even a few dollars off here or there in any given transaction must be located and corrected among thousands of transactions, in order to produce a perfect balance match.

In addition, the task is often manual, and therefore slow and costly to complete. For companies that operate with numerous bank accounts and many transactions, the effort and associated cost goes up significantly.

Stop the madness. Enjoy automatic bank reconciliation in Microsoft Dynamics AX

In a modern ERP system such as Microsoft Dynamics AX, you don’t need to do your bank reconciliations manually — if you are able to electronically import your bank statement files from your bank.

When the bank statements are electronically imported, the process becomes almost enjoyable!

You can then check and validate transaction types between your general ledger and bank statement file. Using rules, you can even perform transaction matches to account for small tolerance variables. In addition, you can quickly create ledger transactions automatically, for those annoying bank fees, for instance. And everything takes place within Microsoft Dynamics AX, where the user is able to drill into each transaction and make corrections quickly.

To enjoy full automatic bank reconciliation in Microsoft Dynamics AX, you’ll need a Microsoft certified add-on solution.

What if the entire process, from end to end, was a completely automated process? A process which only needed your attention if and when a few transactions did not match?

You would be saving yourself time, you would save your company money, and eliminate human typo errors. Then this would be an easy place to increase efficiency for any Microsoft Dynamics AX user!

In order to enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX, you will need a solution that goes above and beyond the standard Microsoft Dynamics AX functionality. You will need a solution which is built specifically to handle Automatic Bank Reconciliation in Microsoft Dynamics AX, a solution that is fully embedded within the system — and Microsoft Dynamics AX certified.

With the Automatic Bank Reconciliation solution offered by SK Global Software, you can enjoy the following:

  • Easily deployed, installed and configured
  • Unlimited and guaranteed banking coverage worldwide
  • The direct integration to your bank is provided “out of the box”, ready to plug and play
  • Enjoy 100% automatic bank reconciliation in Microsoft Dynamics AX
  • Automate across any number of bank accounts, legal entities, and currencies
  • Automatic and unattended mapping and matching of all transactions, even automatic creation and posting of missing general ledger entries
  • The unattended process runs in the background, only notifying you if any exceptions need your attention
  • Run the process at any interval, monthly, weekly, daily
  • Access to full history log that you can review at your convenience
  • Highest level of security with direct and automatic communication directly between your ERP and your bank

 

Contact us today to learn how quickly and easily you can enjoy Automatic Bank Reconciliation in Microsoft Dynamics AX

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Learn About Bank Reconciliation 

Still not convinced?

Download our whitepaper. We give you 15 Reasons why you should automate your Bank Reconciliation in our whitepaper:

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