Accounting firm's KYC journey was determined by their customers


 Billable hours are in high demand within the accounting industry, so freeing up resources is no laughing matter.

If you add up time-saving with satisfied customers, you will have KYC and AML processes that feel like a walk in the park.

A tiresome amount of documentation requirements in relation to the Anti-Money Laundering Act sent the North Jutland accounting firm, PJ Revision, searching for an automated solution to handle the KYC processes.

In 2021, they chose Visma Creditro as their partner. According to Accountant Bjørn Nielsen, who works at the state authorised 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 whether it was easy for us to operate, and I would say that was what made the difference," says Bjørn.

Released resources are essential

According to the accountant, hours are a low capacity in the industry. Normally, a lot of hours would be spent obtaining information and ID, keeping track of Excel sheets and supporting customers in search of the necessary documentation. All of these hours of work are more than convenient to have released, as time is a resource better spent on their customers.

"It lifts a big burden for us in relation to AML, and it's great that I release some hours. Scarcity in our industry is hours," Bjørn says and continues:

"A definite positive aspect of it is that, you sort of get to play the ball into the other court so to speak, as you get a teammate who takes care of that part of the process – and on top of that, it's user-friendly."

AML documentation with full confidence

When PJ Revision's clients previously changed their address, the information didn't always land on the the bookkeepers' desk. That's changed now.

"The system comes with a warning; if we have a customer where there's been a change of address, then Creditro ensures that we get the new documentation. That provides us security," says Bjørn.

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 Anti-Money Laundering documentation."