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Reliability, confidentiality, and excellence, always!

By September 27, 2018September 24th, 2019Case Study

Reliability, confidentiality and excellence, always!

A Simple Fund 360 Story

Anthea Wainman

SMSF Accountant at Galluccio Griggs

Anthea Wainman

After a seamless changeover, gained efficiencies and substantial growth, the accounting firm Galluccio Griggs Accountants & Business Advisors now happily explains why Simple Fund 360 has been chosen as the cornerstone of its new SMSF administration service. The firm's SMSF Accountant, Anthea Wainman, also describes the process, challenges and results.

About Anthea

  • Working in accounting since the age of 15.
  • Passionate about SMSF activities and a believer that the future is all about technology!
  • Simple Fund 360 user for over 2.5 years.

About Galluccio Griggs

  • Accounting and Business Advisory Company established in 1961.
  • Specialised in business advice, tax planning, SMSF, corporate secretarial and compliance.
  • Motto: Reliability, confidentiality and excellence, always!

The Challenge

  • To transition from outsourcing SMSF services to an in-house offering.
  • To go beyond data entry and offer advice, administration and compliance to clients.

The Goal

  • To grow SMSF services and offer a more personalised service.
  • To gain efficiencies as quickly as possible, reduce costs and become more competitive.

The Solution

  • Move to Simple Fund 360!
  • Regular data feeds, regular data entry and extra time for managing client accounts.

Moving to Simple Fund 360

Anthea joined Galluccio’s SMSF administration team in December 2017 to help the business transition from outsourced self-managed super fund (SMSF) services to an in-house offering. With previous experience in the SMSF industry, Anthea’s first challenge was to show the team how they could scale up, rapidly gain efficiencies and improve the client experience by using BGL’s Simple Fund 360 cloud technology.

“I see the future more as administration, compliance and advice rather than data entry. That is exactly where BGL’s software is going, so it fits into the mindset of the future”, says Anthea. “With Simple Fund 360, we are able to manage a high volume of funds and still have the opportunity to establish a consistent relationship with clients. When we were outsourcing, all we could offer was data entry and processing of the financials”.

“By using Simple Fund 360 we can not only take advantage of its automated processes, but also offer a compliance guarantee and focus more on client relationships. Trustees are definitely getting a completely different experience and better support from us since we started using the software”, states Anthea. “For example, after becoming an Authorised Representative, we are now able to focus more on advisory services – something that would be much harder to provide without the software efficiencies”.

Galluccio Griggs’ main goal at the moment is to have 100% of administered funds set up with regular data feeds and data entry. Anthea mentions the process is very well facilitated by BGL and Simple Fund 360, but it can take some time to get all clients on board. “It’s an education / communication process, but fortunately now I have time to talk with them and explain that it’s secure”, mentions Anthea.

The BGL AI AssistantSuperStream and Smart Matching technology is also playing an important role for the firm.  “For the funds with data feeds, I now have the smart data matching coding for me, which is amazing! I’m really impressed with the technology (especially when comparing it to Simple Fund Desktop or other SMSF software solutions available in the market), it’s a game-changer. With the smart matching it’s just so quick, the spreadsheet format means I can type what I like in the cell and it picks it all up and automatically codes it for me, with a high level of confidence. Very efficient!”, highlights Anthea.

The BAS/IAS process is again described by her as an amazing feature. Previously, Galluccio Griggs was doing the process manually, but has stopped since they started using the software. Now, they get the interim accounts done and complete the BASs through the software. “It’s really quick and accurate! You can see all needed information very easily”.

Comparing Simple Fund Desktop to Simple Fund 360, Anthea highlights how much easier it is now that they have Simple Fund 360. She explains, “the market valuations can be trusted and that the smart matching make a huge difference in processing time”.

When asked what she would recommend to other firms looking to develop SMSF administration services or migrate from other software, she didn’t hesitate “I would tell them to move to Simple Fund 360 in a heartbeat – and I have – colleagues do come to me and ask which software I would suggest and I always recommend BGL – I have used and looked at a lot of different software, but yours is the best for SMSFs”.

Perth's trusted name in accountancy for over 50 years...

Focused on real solutions, up-to-date financial management advice, and value for money for every client.

Phone: 08 9227 0055
Email: [email protected]
Website: www.gallucciogriggs.com.au
Address: 620 Newcastle Street, Leederville WA 6007

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Author BGLCorp

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