BGL Corporate Solutions, Australia’s leading developer of SMSF administration and ASIC corporate compliance software solutions, has released a BIG DATA update to help SMSF administrators cope with the superannuation changes to be implemented on 1 July 2017. These new data filters provide Simple Fund 360 clients the ability to filter, evaluate and extract critical data across their entire database in seconds.
“By utilising the Simple Fund 360 BIG DATA capabilities, BGL clients can now quickly filter and identify any fund member with contribution, pension or pension cap issues across their entire database in seconds taking a proactive approach to managing their clients’ SMSFs” says Ron Lesh BGL Managing Director.
According to Lesh, “Simple Fund 360 BIG DATA takes SMSF reporting to a whole new level. While others are fiddling with reports or trying to extract data from screens, Simple Fund 360 clients can extract all the data they need with a few mouse clicks. This will change the way SMSFs are administered in Australia.”
Simple Fund 360 also includes Contribution and Pension Dashboards which instantly provide a simple graphical view of a fund member’s position. The Contribution Dashboard displays real time concessional and non-concessional contributions compared to statutory limits while the Pension Dashboard provides details of pension account balances, minimum and maximum amounts and amounts drawn for the period. Simple Fund 360 clients can also produce a forecast of future pension payments.
“Because Simple Fund 360 automatically allocates contributions received and pension payments to member accounts each day, all information displayed in the software is in real time” added Lesh. “This is a unique feature of Simple Fund 360 and is only possible as a result of the integration and connectivity BGL has with our data partners. Simple Fund 360 now has over 185 data feeds leading the industry with connectivity.”
“A number of industry experts have already talked this year about the need for better real-time reporting tools in light of the proposed new ATO reporting requirements” Lesh said. “And with Simple Fund 360’s zero-touch processing, our clients can achieve this today”.
Simple Fund 360 is now the preferred SMSF administration solution for almost 2,100 SMSF administrators representing over 100,000 SMSFs.