We automate your bills so you have more time for everything else... except more bills.
If you rather spend your time doing everything else but sitting down to manually schedule, pay and reconcile your bills / invoices, you are in-luck.
Imagine having a personal assistant 24/7, 365 for all your bills, including BPAY batching. Well, that's us, but made out of code.
Once you approve your bills in Xero, you can walk away. We automate the payment, BPAY batching, reconciliation (Xero) and notification to your vendors.
For you, this removes 76.9% of your workload, at a fraction of the cost and save even more money by automating early payment discounts with us.
What takes you hours and days only takes us seconds, so give us your headaches and in return, we'll give you back time to do everything else, except more bills.
Everyone is wasting time on bills, but not you...
Be the envy of your peers by simplifying your backend admin.
1. You only need to make 2 decisions
2. Get rid of manual workarounds
3. Only manage the exceptions
When do I want to pay.
Where do I want to pay from.
Once you decide these questions, configure it in Parakeet and you are set.
You have now created a distinct advantage for yourself, time.
While everyone else is wasting time working out, deciding and allocating expensive resources to the below, you have the luxury of extra time to do what your business needs.
You can say bye to these questions..
Are the bills due today?
- Have I paid this bill?
Does this vendor accept credit card?
Can I pay this BPAY via cards or does it only accept bank account?
Did I make an error?
Have I notified them?
How do I reconcile this payment?
Do I have enough to pay for this?
Have I sent the remittance details?
It's no longer BAU to do manual reconciliation and workarounds for all your BPAY, part-payments, card surcharges and recording vendor discounts.
All these extra steps adds cost and un-necessary risk to your business.
When you automate your complete bills reconciliation process, you are getting time back and eliminating the chance of errors.
Only want to do BPAY batching? No problems. Receive an email with the batch attached for you to upload. We will still reconcile it for you automatically.
Your accounts, finance, accountant and bookkeepers will be glad to say bye to these manual workarounds.
Automation is great, but there are times when you need to make adjustments.
Making changes such as changing your payment method, setting new limits are only clicks away.
Like to approve all bills in Parakeet? No problems too.
Being organised pays dividend
How to improve your profits by asking for early payment discounts (Returns).
1. Be in a position to request early payment discounts (Returns)
2. Work out what you like to offer for paying early, in under 30 seconds
3. Customise your Returns to encourage up-take
Being organised and paying your bills on time builds trust with your vendors.
This instantly makes you stand out as a customer and puts you in a strong position to request early payment discounts.
Use the calculator here to model the savings you can earn by offering to pay early (it can be quite substantial).
This takes into account your cost of paying early based on how you fund your bills.
After you have worked it out, configure this in Parakeet and you are set.
Parakeet automatically send daily offers to your vendors for their consideration.
Every vendor relationship is different.
Create custom early payment discount (Returns) rules for your vendors to reflect either new or existing arrangements.
Your vendors can now decide if and when they like to accept early payments.
It's that easy. Everything is automated for you.
The information which you calculate from this calculator is intended for use by you as a guide only. This simulation, resulting calculations, figures and formulae used within this calculator may change at any time without notice. Parakeet accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculator. This calculation does not take into account fees which may apply to the services provided by Parakeet.
Benefit the whole business
Everyone wins, especially Finance and Accounts. Save hours of spreadsheets and responding to follow ups.
1. Use what you have. We don't need anything new.
2. We collect and record the discounts you receive automatically
3. One click-n-transfer process
Use any Australian bank accounts or credit cards to make payments.
Set up your own soft limits in Parakeet to track your monthly spends.
We auto-match your preferred payment methods with your vendor's acceptance methods.
Because we calculate the early payment discount, surcharges and collect the net bill payment, we know exactly what each payment consist of.
This means you will have accurate per bill reconciliation breaking down the early payment discounts received, surcharge paid and payment made.
We use a series of clearing accounts, so when it comes to do your bank reconciliation, it is literally a 1 click-n-transfer process to a clearing account.
See it in action here.
What customers are saying
"Streamlining payment processes"
" Before using Parakeet, I have to manually schedule payments and it took me at least 4-5 hours a week. With Parakeet, everything is just one button away "Approve" and with that I am able to focus running my business more effectively as a small business owner and save tons of time importing invoices manually.
Receive Invoice > schedule > BOOM done."
Lynne, Accounts Payable
Remove 76.9% off your bills workload & save with early payment discounts request (Returns In).As re
All bills automated - BPAY Billers, Vendor Payments via Bank or Cards.
Save yourself the process of 'doing the banking', making manual BPAY payments or batching vendor payments.
BPAY Batching or full automation - Choose between automating your complete vendor and BPAY payments or alternatively, request BPAY batches to be emailed to you automatically for uploading. The choice is yours.
Earn Reward Points on card payments.
Manage part payments & vendors with multiple bank accounts.
Make payments the way you want.
Put an end to the game of 'matching' vendor to payment methods. You can drag and drop to prioritise your preferred payment methods and Parakeet will auto match your preferred payment method with your vendor's compatible payment methods.
Automated request of Early Payment Discounts (Returns In) from vendors.
Save money by making custom offers to pay your vendors early, in exchange for a discount.
Reconcile bills, discounts and surcharges in seconds with "1 click-n-transfer".
Parakeet automates the reconciliation of your bills, from applying payment to adjusting for early payment discounts (existing or new arrangements) and surcharges. So your only task is to reconcile your bank statement to a Clearing account. It's literally 1 click-n-transfer.
How to configure Parakeet
Connect Parakeet to your accounting software (e.g. XERO) to automate vendor and BPAY payments. Then add the payment methods of your choice. No more late bill payments or vendor reminders. We make sure you pay early or on the due date
Parakeet automates requests in a manner that values your vendors, while also optimising for cash flow and debt relief. If you or your vendor choose to decline the offer, no worries. Parakeet ensures vendors get paid on-time by scheduling payments for the due date.
Decide the minimum return offer you are willing to approve in exchange for paying early. Once settings are completed by both you and your vendor, our platform intelligently matches, queues and pays invoices that meet everyone's financial goals. You'll save money while also saving time.
What users think of our features
Pay suppliers with multiple bank accounts
" I like the fact that I can set it up so that one supplier can have multiple bank accounts and Parakeet routes the payment correctly, on a bill by bill basis."
No registrations required
Ideal for your vendors. Time saver for you.
Easy to accept
Ensuring vendor and BPAY payments are paid by or before the due date, provides your vendor with peace of mind.
Vendors can also accept discounts by signing up to a free guest account.
As a result you'll create better vendor loyalty and increased social capital.
Vendors are always notified by email when a payment is made.
Once settled, Parakeet automatically prepares the bill for reconciliation.
Vendors can rest easy knowing their merchant & customer card details are fully protected.
Parakeet is PCI-DSS Compliant.
Our security protocols across our platform, applications and API integrations have been fully audited and certified by this globally recognised standards.
Frequently asked questions
Yes. Parakeet can automate both BPAY & non-BPAY vendor payments.
We can also provide BPAY batches out of Xero too. Read more about BPAY batching here.
1. Does you app make BPAY & vendor payments and can you provide BPAY batch exports out of Xero?
2. Can we use any approval app or digital capture tool for our bill review and approval process?
3. We are a small business and we only manage 4-10 payments per month - are we too small?
No. We can still help.
You can process/batch up to 10 transactions per month for free under our Casual plan and only pay for any excess usage above 10 for that month.
Refer to the latest offer here
4. We are an established businesses and we process large volumes of transactions every month. Can you offer fixed monthly pricing?
Yes. We now have monthly membership plans giving you significant discount off our retail rate.
Refer to our latest pricing offers here.
5. Hi, I'm an accountant / book keeper and I like to put some of my clients on. Is that possible?
6. How much does Parakeet cost?
It starts from $1.16 a day. All our plans include a 30 days free trial and for small businesses, you can process up to 10 transactions per month for free, every month under our casual plan.
Refer to our latest pricing offers here.
7. Can I use any Bank Accounts or Credit Cards to pay my bills?
Yes, as long as your bank account or card is held / issued bay an Australian Bank.
Once you load and prioritise your bank accounts and cards into the Parakeet wallet, we will auto match your preferred payment method with your vendor's compatible payment acceptance method.
8. Can I request early payment discounts (Returns In) from my vendors?
We can request a return (discount) from a vendor on your behalf. We handle the request in a manner that values your vendors and participation by your vendor is optional.
We understand, not all vendors are the same, so at any time, you can create custom return configurations based on your relationships.
Yes. As Parakeet is pre-integrated with Xero, it works with any approval apps (e.g. Approval max) or data capture tools from the Xero App community (e.g. Hubdoc).
So if you have a complex workflow, you can use any of the apps to reach the 'approved for payment' stage. Once it reaches this stage, Parakeet takes over.
Yes definitely. You can read more about partnering with Parakeet here.