“The platform is easy to use, fast, and a very friendly interface. The customer support we get is excellent too.”

Natasha Cerqueira

Accounts Administrator, Amach Software

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Amach Software wanted a platform to pay contractors in multiple currencies across the world and reduce administration time in the AP process.

About Amach Software

Amach Software support clients across the world to successfully implement major IT projects, such as cloud migration and optimization. With over 300 team members, their team of software and IT engineers work locally with clients in sectors such as aviation, banking and finance, healthcare, and the public sector.

The Challenge

With Amach Software contracting people on the ground in several different countries at any one time, they needed to pay them for their services using multiple currencies. Most of their payouts would be in sterling, dollar, and euro, but also covered countries where those weren’t the national currency.

With an Irish headquarters, Amach needed an international payments platform to make these multi-currency payouts, particularly into non-SEPA (Single Euro Payments Area) jurisdictions.

“I use TransferMate to make non-SEPA payments to our contractors” said Natasha Cerqueira, Accounts Administrator at Amach Software. “We’re paying into lots of countries like Brazil, Turkey, United States, Europe, but would often pay into those countries with euro or USD. We also have cases like Romania, where they required payment in Leu. Then, of course, there are our UK contractors who need to be paid in sterling.”

Amach contractors could base themselves anywhere in the world

They also wanted a convenient platform to transfer funds to in bulk and then distribute them from a central location. It needed to have the functionality of having a euro account, which can then make payments into multiple other currencies within the same system.

“When I first started, we were transferring money into a clearing account each time we wanted to make a payment. It was a bit manual and required multiple steps (such as logging in to TM, setting up the payments, going to the bank, transferring funds to TM for each payment run, then the second authorizer also needs to login to TM to review the payments, and then log into the bank to second authorisations, then we need to wait for the bank clearing…), which could slow down the payment. Bank cut-off times could also be painful and mean that we missed a payment window. We wanted to improve that process.”

Amach were also looking for a platform with excellent customer support. Put simply, they wanted to be able to pick up the phone to talk to someone promptly, and have their emails answered quickly.  

“In past roles, when I’ve had a payment issue it can be difficult getting through to the right person in the bank. There is the first person answering the phone, and they transfer you to another place, and then that person doesn't know me, doesn't know anything about us, so I have to explain things… it can be very slow and require a lot of back-and-forth communications.”

The Solution

Global Accounts allowed Amach pay quickly and easily around the world

Amach Software now use the TransferMate platform to store funds in euros and distribute them into multiple currencies. The TransferMate platform allows users to pay and receive internationally, while also allowing them to open addressable (unique BICs and IBANs) accounts in 30+ currencies.  

The way Amach use the platform is to transfer funds once a month, removing that need to make separate transfers for every payment. They then upload a file with all their payment details, which they can then pay in a batch and at a pre-determined time.

“The global account makes everything much easier. I know more or less how much I’m going to use each month so normally I only have to make one transfer of funds. I fill in the templated file I got from TransferMate, upload it to the system, and then throughout the month it pays our contractors and suppliers.”

This integrated process means there is no need for dual authorization when each payment is made, but rather can be done as a simultaneous batch. The process also allows for payments into multiple currencies to be included in the one file.

“At the beginning I used a separate file per currency, but then I learned I could do it all in one. The TransferMate team were super helpful in that regard – they helped me to make the file unique to what we needed, simplifying it a lot.”

One downside of using files that are filled in manually is the potential for errors but, with the TransferMate platform, those errors are caught before payment is made.

“It’s happened once or twice where we didn’t have a particular beneficiary set-up on the system, for example. The system flagged the error and I just go in and fill in the details. What I really like is that if we have one error it doesn’t mean resetting all the payments – something that used to happen with a banking platform I used – it just flags that one while the others go out.”

The TransferMate support and customer service team have also proved to bring real value.

“The support is always very, very fast. We basically have a dedicated person we can call or email with a question, and they get back straight away. If there’s a problem or we have a question, there’s always someone there.”

 

The Results

Amach can now pay out into multiple currencies from their euro TransferMate account, all in an integrated process and easy-to-use system. The platform has proven to be user-friendly and a time saver for Natasha and the Amach team, including new member unfamiliar with the system.

“It’s easy to use and is a time saver, for sure. We have new staff starting, and it’s so good because it's so easy to teach any person how to use the platform.”

Contractors and suppliers are paid accurately, quickly, and with clear information automatically provided.

“Another area where it saves time is sending automatic remittance to suppliers that payment will be with them shortly – that cuts out a lot of unnecessary communication because everything is transparent. It’s those sorts of features that make the day-to-day work much easier.”

The Final Word

“The platform is easy to use, fast, and a very friendly interface. The customer support we get is excellent too.”

- Natasha Cerqueira, Accounts Administrator, Amach Software


To improve how you pay, receive and store funds internationally, sign up to the TransferMate Platform here, or contact the team for a demo.