Helping businesses work through their complex accounting needs is what LiveCA does best. Leveraging technology that streamlines processes and communication makes this possible. Plooto has enabled LiveCA to manage payments at scale for all their clients from a single online platform that seamlessly integrates with their current accounting software and offers reliable client communication.
Table of Contents
LiveCA is Canada’s first and largest online-only accounting firm. They are a full-service firm that operates as the finance team for a wide variety of Canadian businesses.
The goal of LiveCA is to move their clients into paperless, cloud-based accounting functions, offering all clients access to a team of specialists who are equipped to assist with taxes, advisory, bookkeeping, payroll, accounts payable, and other finance functions. Typically, working with LiveCA gives a business an entire back-office team for less than the price of one full-time hire.
LiveCA is a company that leverages technology available to move their client's financial processes and accounting operations online. They realized that doing this well helps businesses scale at a faster rate while keeping all financial information easily accessible.
With the numerous technologies available on the marketplace, the challenge that existed for LiveCA was in the ability of the technology they chose, to meet LiveCA's expectations of being fully cloud-based as well as properly execute on client communication. Many payment platforms that were analyzed or had been used in the past lacked this key component.
LiveCA appreciated first and foremost Plooto's ability to send payment notices to recipients, and secondly, its two-way data sync with the Xero that closes the data and information loop for their clients. Here's the full list of pros that LiveCA found with Plooto:
Higher Transaction Limits — Plooto has no limits on the number of transactions that LiveCA clients can make in a month. This means saving on the hefty fees that banks charge for going over their monthly transaction limits.
Xero Accounting Software Integration — Moving all clients to a cloud-based accounting function means that LiveCA needs technology that integrates with their current tech stack, avoiding any possible silos of information. Plooto does just this, it has a two-way data sync so that any information on accounts payable entered into Xero flows into Plooto and back once payments are completed.
Reliable Client Communication — LiveCA had client communication at the top of their list for important product features while evaluating possible technology vendors. Plooto met the need by automatically sending payment notices to recipients without any manual work on LiveCA's side of things.
Low Cost — Most of LivaCA's clients send over 15 payments a month. At just $25 dollars per business a month with 10 free domestic transactions included, Plooto's pricing aligned well with the needs of LiveCA
"It’s important to do your research when adopting a payments application," says, Chad Davis, Co-Founder of LiveCA, "No one platform has mastered all elements of moving money around the world and it’s important to understand the pros and cons of each."
Learn more about how Plooto works for Accounts Payable here.
Overall, Plooto has enabled LiveCA to manage payments at scale and have the confidence needed to ensure all accounts payable for each and every client has been taken care of with automatic customer communications and two-way sync with accounting software so there is no room for manual error or duplicate data entry.
"We don’t use Plooto exclusively to save time, we use it because it’s easy and at scale,
easy sometimes is more important," says Chad Davis.
With Plooto, accounting firms like LiveCA can focus on scaling their practice and get more out of their client services, managing 10X the business without having to scale FTE proportionally. You can your clients can now eliminate bottlenecks and spend time focusing on tasks that move the business forward, not spend time worrying about payments and their statuses.