Australian FinTech

Published by Australian Fintech on 14 March 2023
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BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, announced the release of Email to Fund – a unique new feature of its AI-powered document-to-data solution, BGL SmartDocs. BGL SmartDocs is fully integrated with BGL’s multi-award-winning SMSF administration and portfolio management solutions, Simple Fund 360 and Simple Invest 360.

“This release is a unique achievement by our Big Data and Simple Fund 360 Product Teams, who have dedicated more than 2 years to the project,” said Ron Lesh, BGL’s Managing Director.

“Clients can now email documents directly into their Simple Fund 360 and Simple Invest 360 software where BGL SmartDocs will extract the data, automatically code and attach the source document to the transaction. No other SMSF administration or accounting software offers this exceptional technology.”

As part of BGL’s Simple Fund 360 and Simple Invest 360 software, BGL SmartDocs is a document reader that uses AI technology with optical character recognition (OCR) and advanced deep learning algorithms to extract information from many document types including bank statements, contract notes, dividend and distribution advices, rental statements and invoices. It converts the document into digital data, streamlining the workflow process.

Jeevan Tokhi, Head of Simple Fund 360 at BGL, said, “With the new BGL SmartDocs features, each SMSF, trust, company and individual portfolio in Simple Fund 360 and Simple Invest 360 will have a unique email address for accountants, advisers, administrators or trustees to send documents. The documents can also be uploaded via the software, Engage by BGL (our mobile app) or via the BGL API. Documents are then automatically added to Document Management in the software.”

“When BGL SmartDocs extracts the document data, it will automatically search for the corresponding transaction within the entity (SMSF, trust, company or individual) and attach the source document to it,” explained Tokhi. “The most exciting feature, however, is that the data auto-fills transaction details in the Smart Matching screen for uncoded bank transactions, eliminating the need for clients to create data rules.”

“This release is the next step in the evolution of our zero-touch technology,” added Ron Lesh FCA. “It will eliminate the administrative burden of analysing, checking and storing hundreds of documents annually for SMSFs and investment portfolios. It also bolsters the existing transaction matching and AI-powered Smart Matching in Simple Fund 360 and Simple Invest 360.”

BGL SmartDocs is currently reading two million pages per month and loading the extracted data into Simple Fund 360 and Simple Invest 360.

BGL will be at Accountex in Sydney this week. Visit the BGL booth A32 to watch a live demonstration of this new BGL SmartDocs Email to Fund feature!

Published by Australian Fintech on 07 March 2023
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Ron Lesh, Founder and Managing Director of BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has called the latest raid on our super by the Albanese government Super Theft.

On Tuesday 28 February 2023, the Albanese government announced that earnings on superannuation balances above $3 million will be subject to a 15% tax rate hike to 30% up from the current rate of 15%. This is not a modest change. It is a substantial change to your super.

“The politicians are quick to label companies that make an error in their payroll wage theft – well, I’m calling them out now for Super Theft,” said BGL’s Managing Director Ron Lesh. “Apart from breaking an election promise, this new tax would appear to have been their intention before the election. It is unfair to hard-working Australians who have legally saved for their retirement and have accumulated balances through making contributions and smart investing. And just another example of the Albanese government’s total disregard for the financial well-being of Australians.”

“Today, this new tax will affect between 80,0000 and 120,000 hard-working Australians. With no indexation applied to the $3 million cap, the Financial Services Council estimates this number will rise to 500,000 over time,” noted Lesh.

“Limiting politicians, public servants and judge’s defined benefit pensions to what can be earned with the current $1.7 million balance transfer cap would be a much better way for the   Government to raise revenue”, added Lesh.

“Since the Albanese Government came into power, we’ve already seen huge increases in interest rates, electricity, gas, food and services. With this new tax, I’m deeply concerned Labor will soon come after Australians with changes to negative gearing, franking credits, capital gains tax, wealth or inheritance taxes, or even taxing the value of the family home,” says Lesh.

“So, I urge Australians to stand up and be counted, to share this message with family, friends and workmates and be vigilant in protecting their financial future,” concluded Lesh.

Published by Australian Fintech on 30 January 2023
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BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has announced its BGL Masterclass will return as a live and in-person event in March 2023.

“We are excited to hit the road and catch up with our clients in Adelaide, Brisbane, Hobart, Perth and Sydney,” said Ron Lesh, BGL’s Managing Director. “The BGL Masterclass is a must-attend event for BGL CAS 360, Simple Fund 360 and Simple Invest 360 clients wanting to learn how to unlock the full potential of their software and boost their productivity”.

Presented by BGL product experts Warren Renden, Head of CAS 360, Jeevan Tohki, Head of Simple Fund 360 and Andrew Paszko, Simple Invest 360 Product Manager, the BGL Masterclass will cover topics including new and key features and their benefits, best practice workflow and processes, essential BGL Suite integrations and time-saving tips, tricks, and shortcuts. Plus, attendees will get a sneak peek at BGL’s product roadmaps.

“BGL launched its Masterclasses in 2020 as a live and in-person event,” continued Lesh. “However, like everyone else, we were forced to move online during the pandemic. So, we are thrilled to finally run the BGL Masterclasses as intended, as an in-person, interactive and immersive team learning experience for our clients”.

“Educating our clients to ensure they have the skills and knowledge to get the most out of their BGL software is a top priority,” added Lesh. “That’s why we provide our clients with extensive learning and help resources, including live and on-demand online product training options, live webinars, education weeks and more.”

The BGL Masterclass will take place in Hobart (02/03), Adelaide (07/03), Perth (08/03), Sydney (21/03), Brisbane (22/03) and Melbourne (28/03).

For more information and to secure tickets, please visit www.bglcorp.com/bglmasterclass.

Published by Australian Fintech on 10 January 2023
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BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, is proud to announce it has achieved Great Place to Work recertification for the 2022-2023 year.

“This is a great accomplishment by the BGL Team and especially our People and Culture Team,” said Ron Lesh, BGL’s Managing Director. “This certification means a lot to BGL and recognises the constant and consistent effort of our People and Culture Team to provide BGL’s 200+ employees with a safe, inclusive, and friendly work environment. I’m extremely proud of them.”

Great Place To Work Certification recognises employers who create an outstanding employee experience. Certification is a two-step process that requires the submission of a comprehensive culture brief, capturing the people practices that make a company brilliant and unique. Plus, an employee experience survey, with questions relating to organisational culture and company leadership.

“BGL can only achieve great goals with inspired and passionate people who are motivated to produce outstanding results for our clients,” continued Lesh. “So, we work hard to create and foster a workplace culture where everyone is valued and respected.”

Daniel Tramontana, Chief Executive Officer at BGL, said, “Software is at the core of what we do. It’s the reason thousands of firms choose to transact with us. But clients stay with BGL because of our people, community and culture. Our people are our greatest point of differentiation, and we are truly blessed with the best.”

In recent years, BGL has become an accredited Mental Health First Aid Skilled Workplace and Great Place to Work® Certified™. BGL is recognised on the Great Place To Work® Best Workplaces for Women List and the 2021 AFR BOSS Best Places to Work List as the 6th best technology workplace in Australia and New Zealand. With the help of Joel Clapham, Founder and Chief Mental Health Champ at Hearten Up, BGL has also supported 36 staff to become accredited Mental Health First Aiders.

Published by Australian Fintech on 21 December 2022
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BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, have announced the promotion of Daniel Tramontana to Chief Executive Officer (CEO). Ron Lesh will continue in his role as Managing Director.

“This is a momentous moment for BGL, the team, our clients and our community,” said Ron Lesh, BGL’s Managing Director. “I am incredibly proud and excited to see Daniel step into the CEO role on 1 January 2023.”

“Daniel’s contribution over his almost 26-year tenure at BGL has been incredible,” continued Lesh. “Starting in software support to helping BGL grow from 10 to over 200 people, Daniel has had his hand in every pie. BGL would not be where it is today without him.”

“I am privileged to have worked with someone of his calibre for such a long time. I have no doubt Daniel is the person to lead BGL into the future,” said Lesh.

Daniel Tramontana joined BGL in 1997 as a member of the Support Team. With a Bachelor of Computer Science & Accounting, Daniel added a new area of competency to BGL’s Support and Training Teams. Through his time at BGL, Daniel obtained a Master’s in Business Administration and a Six Sigma Black Belt while performing in roles including General Manager and, most recently, Chief Operating Officer (COO).

“After almost 26 years at BGL, I have been promoted to CEO of BGL Corporate Solutions,” said Daniel Tramontana. “This is truly an honour and a highlight of my life.”

“Software is at the core of what we do,” continued Daniel. “It’s the reason thousands of firms choose to transact with us. Our market-leading solutions will continue to evolve from strength to strength as we grow our presence in Australia and overseas. But clients stay at BGL because of our people, community and culture. My desire is for clients, prospects and the community to engage with us because of who we are, what we stand for, and the memorable moments we deliver. Our people are our greatest point of differentiation, and I am truly blessed with the best.”

Published by Australian Fintech on 13 December 2022
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BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, is proud to announce the release of the electronic lodgment of the Company Tax Return in its investment portfolio software solution, Simple Invest 360.

“This is a fantastic achievement and another industry first for the Simple Invest 360 product team, and I am incredibly proud of them,” said Ron Lesh, BGL’s Managing Director. “With the ATO’s approval, BGL clients can now prepare and electronically lodge the 2022 Company Tax Return in Simple Invest 360, streamlining their compliance workflow.”

This latest release supports the 2022 Company Annual Tax Return and associated schedules. These are populated automatically by Simple Invest 360’s CGT engine. The release also includes automatically generated reports such as a Declaration of Dividends, a Dividends Paid Minute, a Directors’ Report, and a Dividend Statement. Previously, clients would have had to manually create all the supporting documentation in MS Word or Excel.

Andrew Paszko, Simple Invest 360 Product Manager at BGL, said, “Simple Invest 360 is in a class of its own, offering investment reporting, CGT tracking, shareholder register, dividend payment, full set of financials, accounting workpapers and now electronic lodgment of the Company Tax Return all in one user-friendly software.”

Simple Invest 360 is an end-to-end investment portfolio management solution for companies, individuals, and trusts. It keeps track of investments, distributes profit, provides a complete set of financial reports and prepares trust and company tax returns with electronic lodgment to the ATO. Simple Invest 360 integrates with BGL’s CAS 360 and Simple Fund 360 solutions. It also provides integrated accounting workpapers, digital signing, 350+ data feeds, registry integration and BGL SmartDocs – BGL’s industry-leading paper-to-data solution.

Want to see Simple Invest 360 in action? Click here to watch a demo.

Published by Australian Fintech on 08 November 2022
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BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, is proud to announce it has been recognised on the 2022 Australia’s Best Workplaces™ for Women List.

“This is a fantastic achievement for BGL and recognises the teams’ passion and commitment to fostering an inclusive and equitable workplace culture,” said Ron Lesh, BGL’s Managing Director. “BGL is one of only 30 organisations to receive this recognition following a survey of more than 20,000 female employees from Australia’s Great Place to Work Certified™ organisations.”

Presented by Great Place to Work, the inaugural Best Workplaces for Women™ List highlights organisations across the country committed to fostering equity in the workplace and ensuring all employees feel safe, heard, challenged, and valued.

“Our People and Culture team work hard to provide BGL’s 200+ employees with a safe, inclusive, and friendly work environment, and I’m extremely proud of them,” continued Lesh.

“We can only achieve BGL’s goals with inspired and passionate people that feel empowered to produce outstanding results for our clients.”

Nadine Freitag, People & Culture Manager at BGL, said, “This recognition means a lot to BGL. As a company operating in the technology sector, historically male-dominated, we are thrilled to know our female workforce feels equal and valued at BGL. Everyone here has worked hard to achieve this recognition, and we are excited for what’s next. So, watch this space!”

In recent years, BGL has become an accredited Mental Health First Aid Skilled Workplace, Great Place to Work Certified and was recognised as the 6th best technology workplace in Australia and New Zealand in the 2021 AFR BOSS Best Places to Work List. With the help of Joel Clapham, Founder and Chief Mental Health Champ at Hearten Up, BGL has also supported 36 staff to become accredited Mental Health First Aiders.

Published by Australian Fintech on 24 October 2022
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BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, is proud to have trained 1,350 people in its free Company Secretary 101: A Beginner’s Guide live online training course.

“This is a huge achievement for the BGL Training Team, and everyone involved,” said Ron Lesh, BGL’s Managing Director. “We offered this free online training course to help those new to the company secretary role and were delighted to see over 1,700 people register and 1,350 attend the live session held on 18 October 2022.”

BGL’s Company Secretary 101: A Beginner’s Guide free online training is for new ASIC registered agents, accountants, and administrators or those wanting to refresh their skills and provides attendees with an understanding of the core duties, legal responsibilities, tasks and activities of a company secretary. Over 76% of people registered for Company Secretary 101: A Beginner’s Guide attended the live online training course.

“Given the success of this free online training course, BGL has decided to run a live session every quarter while also providing the webinar recording on-demand,” continued Lesh. “We want to ensure everyone has an opportunity to learn and grow in this space.”

“With over 30 years of experience in the corporate compliance space, BGL is committed to sharing its knowledge and expertise with the community to help pave the way for the next generation of company secretaries and administrators,” concluded Lesh.

Anthony Costa, Training Manager at BGL, said, “This course was great for participants to gain an overview of company secretary duties, so they may better grasp their roles and responsibilities. The next step for participants is to attend BGL’s Live Online Product Training for its innovative company compliance and trust management software, CAS 360, scheduled in October and December 2022.”

For more information, visit https://www.bglcorp.com/hub/training/

Published by Australian Fintech on 19 October 2022
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Australia’s leading provider of self-managed superannuation fund (SMSF), investment portfolio and company compliance management software, is proud to announce the appointment of Adriana Cavallo as its Head of Customer Experience (APAC).

“It has been a pleasure to watch Adriana grow and thrive with us both personally and professionally since she joined BGL in 2012,” said Ron Lesh, BGL’s Managing Director. “Adriana has demonstrated the highest commitment to BGL, the team and clients and we could not be prouder to see her take on this new role.”

A qualified CPA with an MBA in Marketing, Adriana has contributed significantly to BGL over the past 10 years with roles in Support, Data Services, Client Enablement, Practice Management Integration, Partnerships and most recently, as Head of Client Success.

“As Head of Customer Experience (APAC), Adriana will oversee BGL’s Support, Data Services, Client Success, Account Management, and Sales (APAC) teams to deliver remarkable experiences for BGL clients,” continued Lesh. “This is a significant change to the structure of our business and will have a positive impact on BGL, our clients and partners moving forward.”

“Working with our clients and creating an exceptional BGL experience has always been a passion of mine,” said Adriana Cavallo. “I’m thrilled to be able to continue my incredible journey with BGL, focusing on client experience and working with the amazing teams at BGL.”

“We are proud to have an extraordinary talent pool at BGL that allows us to promote internally rather than seek external appointments for senior management positions,” added Lesh. “Adriana is highly regarded in the industry due to her ability to form and sustain strong relationships and is perfectly suited and qualified to help lead BGL into the future.”