Australian Retirement Trust (ART), one of Australia’s largest super funds, is celebrating the five-year milestone of its industry first super payments system, Beam. In just five years, 1.5 million transactions and more than $26 billion worth of super contributions have been processed through the platform.
Beam, created in 2018, is an innovative payment solution that allows employers to manage super and payroll through one central platform – reducing the industry standard for how quickly super contributions can be allocated to a member’s account.
When reflecting on the past five years, ART’s Head of Strategic Partnerships Mat Gilroy said that a highlight of the journey has been watching the relationship with partners and employers grow.
“The growth of Beam over the last five years has surpassed our expectations with no sign of slowing down,” Mr Gilroy said. “We launched as an industry first super payments system and now facilitate one transaction every two minutes on behalf of more than 90,000 employers across Australia.
“Beam was born and continues to grow through engagement with our employers. We were aiming to solve a common problem in payroll, to make the process of paying super as simple as pressing a button.
“When using Beam, employers no longer have to leave their payroll software or go to multiple super funds’ websites – it’s all embedded within the system, saving time and improving efficiency for businesses.
“I’m excited to see the platform evolve over the next five years to solve new business problems and support even more employers to ensure smooth super payments to members.”
Beam is a secure, time saving tool that connects super to payroll software through an API with a range of Australian payroll software providers to help ease the burden and time taken for businesses to manage their super obligations.
For more information on Beam visit www.beamconnect.com.au