ASX-listed CVCheck runs an online screening and verification service processing 30,000-40,000 individual transactions a month, with complex billing that includes advance “wallet” payments some clients draw down against and bulk invoices for others. Its previous accounting system, Saasu, couldn’t handle that transaction volume – Saasu itself flagged the account as exceeding its capacity – and month-end reporting was taking two to three weeks, leaving the board looking at data that was already a month out of date.
CVCheck evaluated Xero and SAP Business One before choosing MYOB Advanced Business, largely on the strength of its API. The finance team customised it to automate bulk billing and wallet-payment reconciliation, work that previously consumed a two-person team up to five days each per client group.
Month-end reporting now takes days rather than weeks, and overdue invoices have dropped from around 50% to under 20% since staff no longer have to open and print invoices one at a time.
