Accounting firm's KYC journey was determined by their Customers

Hours are a low capacity in the accounting industry. Therefore the release of resources is not to be joked about – if you spice up time-saving with satisfied customers, the dance with KYC and AML can be complete without sore toes.
A tiresome amount of documentation requirements in connection with the Money Laundering Act sent the North Jutland accounting firm, PJ Revision, searching for an automated solution to handle the KYC processes.
In 2021, the choice fell on Visma Creditro as a partner. According to Accountant Bjørn Nielsen, who works at the state-authorized PJ Revision, the choice of the supplier was a result of the customer experience.
"The fact that it (the system red.) was easy for our customers was almost more important than that it was easy for us to operate, and I would say that was what made the difference," says Bjørn Nielsen.
Released resources are essential
According to the accountant, hours are a low capacity in the industry. The released hours' accountants usually would have spent on obtaining information and ID, keeping track of excel sheets, and supporting customers in search of the necessary documentation is more than convenient to get rid of, as they release resources to customers.
"It takes a big burden away from us in connection with AML, and it's great that I get to release some hours. Scarcity in our industry is hours," says Bjørn Nielsen and continues:
"A positive aspect of it is that you get a new player who then stands for that part of it, and on top of that, it's user-friendly."
Laundering documentation with full confidence
When PJ-revision's clients used to pull up the tent pegs and move addresses, it wasn't always that the new pastures reached the bookkeepers. That's changed now.
"The system comes with a warning; if we have a customer with a change of address, then Creditro will ensure that we get the new documentation. So it provides security," says Bjørn Nielsen.
When accountants get new clients, they are introduced to Visma Creditro's platform, where they answer questions and upload the documents required by accounting legislation.
"It helps us feel safer. We are confident that we have the documentation required to comply with the rules in the form of money laundering documentation."