Overview
CyberCX is the leading provider of cyber security services in Australia and New Zealand, employing more than 1,400 cyber professionals across four regions. After completing 20 acquisitions in just two years, Kevin O’Sullivan, Chief Financial Officer of CyberCX, was tasked with integrating diverse finance systems, streamlining accounts payable (AP) processes, and strengthening financial governance during rapid expansion.
One key priority: protecting outgoing payments across a complex vendor landscape. With Eftsure, CyberCX implemented an additional layer of verification that ensures payment accuracy, enhances vendor validation, and gives the finance team greater confidence.
"It helps me sleep better at night knowing the chances of incorrectly paying a vendor are very low."
— Kevin O'Sullivan, CFO, CyberCX
Challenge
CyberCX grew quickly through acquisition, bringing together multiple businesses that each had their own systems, processes, and tools. At one point, the finance team was juggling over 20 general ledgers, creating friction in monthly consolidation and inconsistent AP workflows.
The challenge was twofold: align legacy finance functions under one operating model and introduce payment controls that would scale across a growing enterprise.
At the same time, Business Email Compromise (BEC) remains a persistent threat to finance teams. CyberCX’s own research showed it was the most common attack type they responded to in 2024, accounting for 28% of all incidents — often involving attempts to change vendor banking details. Kevin recognised the need for stronger, system-driven controls to reduce the risk of these kinds of fraud attempts.
Solution
CyberCX adopted Eftsure as part of a broader effort to standardise and secure finance processes. The platform validates bank account details against an independent, continuously updated database, ensuring that payment data is correct before funds are released.
Eftsure now plays a critical role in CyberCX's payment run approvals. Before authorising payments in the bank, Kevin checks the Eftsure report to confirm all banking details have been validated.
"When it comes time to authorise the payment run, I won't proceed until I see the Eftsure report showing that all bank accounts have been validated. That gives me a lot of comfort."
The platform was easy to implement and immediately effective. For Kevin, it fits into a layered defence strategy that combines people, process, and technology without slowing the business down.
"As finance professionals, we work hard. The last thing we need is a fraud incident. Tools like Eftsure solve that risk in a really efficient way."
Results
By integrating Eftsure into its AP process, CyberCX has:
- Strengthened protection against payment fraud, including BEC
- Increased trust in bank account data before every payment run
- Reduced reliance on manual callbacks and email-based validations
- Streamlined payment governance across multiple entities and regions
Eftsure has also enabled CyberCX to align its finance controls without introducing complexity. The team now operates with more confidence and less risk.
"It was a simple solution to a really big problem. Eftsure took the stress out of payment approvals."
Ready to reduce your payment risk? Book a demo with Eftsure to see how it works.
