Ensuring Readiness for AI Investment: Key Considerations for Australian Accounting and Legal Firms
In the dynamic landscape of professional services, Australian accounting and legal firms are increasingly looking to artificial intelligence (AI) to streamline operations and enhance client service. However, before committing to significant AI investments, firms must ensure they have established essential operational capabilities and compliance frameworks. This article explores critical prerequisites that Australian firms should prioritise […]
Why Should I include a Debt Recovery Clause in my Engagement Letters?
Including a Debt Recovery Clause in your engagement letters can provide an important layer of comfort and financial protection should your firm ever wish to “go legal” to recover unpaid debts. These clauses address the steps you may take to recover outstanding payments and address matters such as interest charges, involvement of collection agencies, or […]
FeeSynergy Collect is now PayID enabled!
Have you heard about PayID? PayID is a feature of the New Payments Platform (NPP) and is sometimes referred to as an addressing service. PayID is owned by NPP Australia Limited. This entity is owned by 13 of the major banking and payments institutions including ANZ, CBA, Westpac, NAB, Macquarie, HSBC, Bendigo Bank, Cuscal, Citi, […]
Cashflow in 2022
Welcome to 2022 and what is already shaping up to be another year of challenges for us all. At FeeSynergy our goal is to make sure that Cashflow isn’t one of them, for you. Has your accounting firm come back from the New Year break to a depleted bank account and rapidly ageing debtor book? Worried […]
FEESYNERGY EQUIFAX Media Release
Leading debtor management software fintech, FeeSynergy, and global data, analytics and technology company, Equifax, have partnered to help accountants and legal firms to better assess client risk, providing greater visibility of a client’s credit risk and ability to pay. With economic uncertainty and many businesses feeling the pinch from Covid lockdowns, having insight into the […]
Leveraging the mantle of Trusted Advisor
In a 2017 Roy Morgan “Image of Professions” survey, Accountants rated highly compared with many other professional groups http://www.roymorgan.com/findings/7244-roy-morgan-image-of-professions-may-2017-201706051543 . In the current pandemic/economic environment, it is likely that this rating amongst the business community is even higher. This survey supports our long-held view that accountants are in the enviable position of being able to […]
Payment Arrangement
Payment arrangement is a term used to describe an agreement with a client to accept late payment or payment in instalments. Payment arrangements are an essential part of any businesses’ debtor management policies and procedures. Economic pressures resulting from local and global events such as droughts, floods, bushfires, GFC, export bans, and Covid-19, continue to demonstrate […]
COVID-19 is making it tough out there for clients
Clients of FeeSynergy will know that we have had a long association with Beaton Global, and the man himself, George Beaton. Beaton Global are renowned for the integrity of their research and surveys in the professional services sectors including legal, accounting and engineering. Beaton Research Manager Grant Hollings’ recent blog on the impacts of COVID-19 on business […]
Is Your Firm Complying with ACCC Card Payment Surcharge Laws?
The purpose of this article is to assist accounting firms to assess their compliance with strict Australian Competition and Consumer Commission (ACCC) regulations relevant to card payment surcharges. Since the 1st September 2017, Australian businesses have been banned from profiting from card payment surcharges. The ACCC ban states that surcharges must not exceed the […]
FeeSynergy Payment Gateway now available to NZ accounting firms
We live in a world of online payments. COVID-19 has only reinforced the fact that clients want simple to use 24/7 online payment facilities and peace of mind when making such transactions. In this day and age, accounting firms who do not offer online payment facilities will be seen by their clients to be “behind […]