“BankLink is like the core backbone of how we operate.”12 December 2011
Innovative technology provides small practices with the opportunity to increase their output without needing to increase their headcount. RDV Business Solutions has embraced The BankLink Service to provide a full portfolio of accounting services without having to bring on new staff. Their productivity, and their client base, just keeps growing.
RDV Business Solutions began using The BankLink Service in 2007. It has become the cornerstone of their practice by helping them to automate and streamline processes with impressive results.
Comprising of Director, Rocky Di Vitto, and a junior accountant, the practice produces over 100 Business Activity Statements per quarter.
“We can usually prepare a BAS within an hour and pass on those cost savings to our clients,” says Rocky.
The secret of their success is the combination of The BankLink Service with the practice’s progressive approach.
“Almost all of my clients are on BankLink and the time savings that it offers helps me to grow my practice,” says Rocky.
“It allows me to look at expanding my business by offering other services such as finance and financial planning, without having to increase the number of staff.”
The majority of RDV Business Solutions’ clients use a solution called BankLink Notes online. This lets them access BankLink to provide information about their transactions online, anytime and anywhere.
The BankLink Service also allows the practice to receive their bank statement data electronically – a large contributor in enabling their office to become completely paperless.
“We receive daily data for all our clients, and using BankLink Notes online means I can be kept in the loop as easily as being copied in on the emails. BankLink lets me focus on adding value and higher-level work, as my junior accountant can focus on the coding side. It lets me stay in control to manage the client side and face-to-face discussions.”
Word-of-mouth is one of the best signs of a practice’s success and it’s telling that this is the key way new business is generated for RDV Business Solutions.
“BankLink helps us to have a great relationship with our clients. It means that we can touch base with our clients on a monthly or quarterly basis. It’s a positive relationship that we have with them as we’re not chasing down missing statements or information.”
Rocky also uses The BankLink Service to provide added value services which generate additional income.
“Every quarter we produce a P&L or ledger report using BankLink. Every third quarter we provide tax planning for a fee. BankLink lets us easily access nine months of data, so we can estimate their yearly profit and recommend options for them. It means our clients are kept in the loop along the way.”
“BankLink is like the core backbone of how we operate,” says Rocky.
It’s clearly a successful strategy which has assisted this small practice in becoming synonymous with success.
- Use technology to increase productivity without increasing headcount
- Prepare over 100 Business Activity Statements per quarter
- Can prepare a Business Activity Statement within an hour
- 50 to 75 percent of regular transactions are auto-coded
- Director’s time is freed up for higher value activities
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