In a recent sit down with Marina Cook, CFO at Scots College Wellington, and Veronica Hodgkinson, Senior Accountant, we delved into the transformative impact VigilantPay has had on their AP and Payroll Team. Engaging directly with our clients always yields valuable insights, helping us refine our product and affirming what we do well.
Marina’s enthusiasm was palpable: “We love it!” she exclaimed. VigilantPay has instilled real confidence in her during the payment approval process, offering unparalleled visibility into each transaction. No longer does she feel in the dark; she can easily scrutinise payments, see detailed notes, and approve with confidence.
Marina’s extensive background in Audit and Assurance, including a decade auditing for a big 4 accounting firm, has sensitised her to the vulnerabilities inherent in payment processes. For her, implementing VigilantPay was a no-brainer.
What truly surprised Marina and Veronica was the unexpected value VigilantPay provided beyond its primary function of pre-emptive payment validation. By analysing both payroll and creditor payments, they uncovered instances of staff also being paid as suppliers. While the payments found were legitimate, this practice carried HR and tax implications that could have jeopardised the school and its employees. VigilantPay’s ability to flag such scenarios allowed the team to mitigate risks and rectify errors promptly.
Veronica highlighted another significant benefit: VigilantPay’s uniform approach to both payroll and creditor payments. Previously, payroll didn’t share the same rigour of the creditor payment process, but now, with VigilantPay, they enjoy consistent controls and audits. We also share the Audit report with staff to provide solutions to improve controls and a focus for staff to work on ways to reduce risk.
For Marina, the decision to adopt VigilantPay was driven by the desire to enhance payment visibility and reduce risks, and the platform has exceeded expectations. As she aptly puts it, VigilantPay has delivered on these objectives and more.
