Violet Sabo heads up our tech support and brokerage payment processing service at Planfocus. With over 20 years’ experience in advice admin services, Violet is one of the most experienced advice administrators in Australia today.
We asked Violet a few questions recently what she likes about working in payment processing and what are some of the areas licensees should be thinking about.
Q. Violet, describe what it’s like managing the payment processing for the many licensees serviced under the Planfocus Payment Processing Service.
A: Working with so many different licensees can be a challenge. But the team are always energised by the diversity and we love it. This is what gets us all up in the morning.
Q: Violet, what are the benefits for licensees outsourcing their payment processing to you and your team at Planfocus?
A: Outsourcing payment processing and adviser administration is all about streamlining your operations, reducing your costs, helping the practice focus more on core competencies and less on back office admin.
Q: Why are specialists so important in this field?
A: Well, it’s fair to say that getting paid correctly is probably very important for every advice business. Without strong rigor, errors and omissions can creep into your reporting and this leads to revenue going missing or being misdirected.
So by outsourcing your payment and adviser administration to Planfocus, you get to leverage the 20+ years’ experience and expertise of our team who specialise in these areas. This will ensure a more efficient and effective operation, better risk management, and improved compliance. There are fewer more critical functions in an advice firm’s back office.
Q: How does outsourcing your payment processing reduce your administration costs?
A: Well for a starters, it reduces your costs by eliminating the need for expensive in-house resources and infrastructure. This is particularly the case when you don’t yet have that skill in-house. There is no need to train staff and pull them away from other tasks.
This can free up resources that can be used to invest in core business activities or other strategic initiatives.
Q: What sets you and your team apart from other outsourcing service providers?
A: Our licensee clients enjoy the value that our deep experience brings to this service. In addition, the team answering your queries are the team members doing the job. So you are always talking to an expert.
It’s so important to carefully evaluate any potential outsourcing partner to ensure they have the necessary expertise, experience, and capabilities to meet your specific needs. You should also establish clear communication channels and performance metrics to ensure that your outsourcing partner is delivering the expected results. This is how we run every payment processing service for all our clients.
Visit our website at planfocus.com.au or call us on 1300 361 973 to learn more about the Planfocus Payment Processing Service.
