OnPay Product Manager, Gundeep Sidhu said, “We are very fortunate to attract a talent of Kaz’s calibre and we are sure our clients will benefit from her extensive knowledge and experience.”

Launched in May 2015, OnPay helps Australian licensees and advisers take control of their fees and commission data, enabling them to quickly and efficiently process fee and revenue data, generate informative reports and metrics and distribute income regularly. It also allows licensees and advisers to consolidate fee data from dozens of sources. The OnPay application is developed by the team behind award-winning AdviserLogic software.

Ms Farnell said she is delighted to be joining OnPay and is looking forward to working with such a focused team. “It is very exciting to come on board with OnPay and help further develop and enhance this fantastic new software,” Ms Farnell said. “Our aim is to simplify the remuneration process and to provide our clients with concise business reporting and ease of use.”

With a wealth of experience in the field of commissions and revenue management software, Ms Farnell previously managed Easy Dealer/Easy Brokerage products at Rubik.

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Developed by the same team behind AdviserLogic software, which has over 50 years combined experience in financial services and technology solutions, OnPay was built from the ground up and has the ability to customize the needs of both large and boutique Australian Financial Services Licensee (AFSL) business structures.

OnPay product manager, Gundeep Sidhu said the resulting system is flexible, transparent and intuitive and can grow and adapt to changing business needs.

“We believe OnPay takes revenue management to new heights,” Mr Sidhu said. “The increasing burden on licensees and advisers in terms of fee disclosure requirements and potential new regulatory requirements, means OnPay will become increasingly more important to the sustainability of licensee and advice businesses.”

OnPay enables licensees and brokers to quickly and efficiently process fee and revenue data, generate informative reports and metrics and distribute income regularly. It allows licensees and brokers to consolidate fee data from dozens of sources.

“With requirements looming around continuous disclosure fees and revenue, we believe having cloud-based, easy-to-use and reliable software to manage payouts will become essential,” Mr Sidhu said.

OnPay collects information from insurers, managed funds, platforms and loan products, and systemises the process of determining where fees are to be paid to enable all parties to navigate it at the one location and ensure accuracy of data.

“The task of revenue management is an administrative requirement but it is also about generating continuous business analytics. Efficiency, specifically around uploading and extracting data, is therefore at the heart of the system.”

Phaedra Hackles has been promoted to manage the distribution of OnPay. Ms Hackles has been with AdviserLogic for more than six years and formerly headed up sales at AMEE Group, where she was responsible for the Easy Dealer/EasyRevenue product.

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