Revealed at the Accounting Business Expo in Sydney last week, PayVu, a digital payments initiative, has opened a new secure service for bookkeepers and accountants who struggle with periodical payments – like bills and salaries – on behalf of small business clients.
PayVu, a new digital initiative aimed at settling electronic payments on the same day will remove security concerns, allow for greater time efficiencies, and streamline communication between clients and bookkeepers.
“Bookkeepers who saw the software in action are excited that they can now effectively provide a payroll bureau service. Previously the business owner did payroll because only they could make same day salary payments,” said PayVu CEO Robin Beauchamp.
“And for accountants, the payments process is often avoided because it is such a headache chasing the business owner for on time banking approvals and other ‘administrivia’, he said.
PayVu changes that completely. “We’ve automated a process which historically has been time consuming, stressful and frustrating. Based on the positive feedback we are eager to roll this new technology out to industry and provide much needed respite for a process which has caused so much rework and stress.”
Mr Beauchamp said a pilot program was revealed at the recent Accounting Business Expo and received unanimous support from the professional community.
“As the increase of e-transfers and internet banking affects how a business runs, and with more money moving electronically, it’s often difficult to stay on top of payments,” says Mr Beauchamp.
“PayVu has consolidated this often complicated and time-consuming process by providing one integrated platform for bookkeepers and accountants to use.”
The future in payments looks exciting where integrated payroll services will serve to benefit industry by delivering a valuable service for SMEs. PayVu technology will open revenue streams to provide time critical services to bookkeepers and accountants with a more secure and streamlined approach to payment processing for their clients.
Mr Beauchamp says, “the reaction from professionals at the Expo was overwhelming, unanimous, and engaged in the future opportunities. We’re excited to be showcasing this with select businesses already and continue to receive great feedback.”
The Accounting Business Expo is Australia’s largest annual business event bringing together over 4,000 professionals. The event attracts professionals from all over Australia within the accounting sector and offers the latest industry trends, cutting-edge solutions, live demos and enhanced networking opportunities.