Sunsuper, one of Australia’s most awarded and fastest-growing superannuation funds, has launched an innovative new payment solution that allows employers to manage super and payroll through one central platform – halving the industry standard for how quickly super contributions can hit a member’s account.
Beam is a new secure, time-saving tool that connects super to payroll software through an Application Programming Interface (API) with a range of Australian payroll software providers to help ease the burden and time taken for businesses to manage their super obligations.
Sunsuper’s Head of Digital Distribution Mat Gilroy said Beam had been developed based on employer feedback.
“As one of Australia’s most awarded funds with more than 30 years’ experience and 130,000 employers, we’ve spent the last three years developing Beam after listening to our employer clients who told us they wanted an easier way to pay super,” said Mr Gilroy.
“Beam is a digital product that leverages Sunsuper’s clearing house and existing services to make super as simple as pushing a button within payroll for an employer. Beam means that employers will no longer have to leave their payroll software or go to multiple super funds’ websites – it’s all embedded within the payroll.
““If an employer uses a payroll software provider offering Beam, a new superannuation section in the payroll will become a one-stop shop for all super contributions. The Beam service automatically lists all employee data for submission. Our validation service means they’ll receive notification of any issues in their super data before they submit it, and with end-to-end visibility of super contributions, they’ll also receive contribution and payment notifications so they’re alerted every step of the way. With Beam, an employer can add and terminate staff, check data and pay super to any fund without leaving their payroll software.”
“Beam’s direct-to-fund payment option also ensures that super contributions hit members’ accounts faster, setting a new industry standard for how payments are processed.”
Beam has been awarded Money magazine’s Best Innovative Business Super Feature 2019 and SuperRatings Best New Innovation 2019, highlighting the value of the tool and Sunsuper’s commitment to employers.
“We started rolling out Beam in April and are already on track to have four providers on board with more than 50,000 employers by early 2019. Testimonials from employers show that Beam is changing the way they’re engaging with super and that the seamless integration and real-time updates are saving them time and providing genuine benefits for their staff and business.
“Beam is another way that Sunsuper is positioning itself as the easiest super fund in Australia to do business with.”
For more information on Beam visit www.beamconnect.com.au
Sunsuper is one of Australia’s fastest growing super funds with more than 1.3 million members and $58 billion in funds under management.
Media enquiries: Rebecca Chivers, Sunsuper, (07) 3084 5891 or 0439 805 589