Processing payroll at KOMPAN previously required staff to fill out numerous super contribution returns manually or by logging on to each super fund’s website. It wasn’t just the huge amount of time involved that was an issue, but also the risk of errors from repeated manual entry. An added issue was the need for SuperStream compliance – the requirement for all Australian employers to report and pay superannuation contributions electronically.
Sybiz Visipay is able to process an individual’s super contributions at the same time as their salary payment when using SybizSuper. Time is saved through processing one single electronic payment to multiple funds. With automatic reconciliation to payroll, there’s no manual entry - removing the chance of human error. “It saves a huge amount of administration time and there is no risk of error because the information isn’t being manually filled in,” says Jo-Ann Filmalter, KOMPAN’s Company Accountant.
Utilising SybizSuper, KOMPAN can now make employee superannuation payments to any complying super fund via Sybiz Visipay. SuperChoice, a leading Australian super clearing house, acts as exchange partner, allowing for contributions to a wide group of superannuation funds. “I download it straight from the payroll system and upload into SuperChoice and process the payments. It’s really that quick,” Jo-Ann says. SybizSuper is also Certified SuperStream Compliant (Gold Level) by the Australian Tax Office, a welcome advantage for any Australian business.
Now with Sybiz Visipay and SybizSuper, KOMPAN have reduced the need to micromanage super contributions, reduced the chance of human error when processing payments and embraced a comprehensive payroll solution built for the needs of Australian businesses.