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BGL appoints Jeevan Tokhi as Head of Simple Fund 360

By In the Media, Money News Australia, NewsNo Comments

BGL appoints Jeevan Tokhi as Head of Simple Fund 360

BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, have announced the appointment of Jeevan Tokhi as its new Head of Simple Fund 360.

“It has been a pleasure to watch Jeevan grow and thrive with us both personally and professionally, since he joined BGL in 2005,” said Ron Lesh, BGL’s Managing Director. “We could not be prouder to see Jeevan rise up the ranks to head our Simple Fund 360 product team and make it his own.”

As qualified CPA (SMSF Specialist) and accredited SMSF Specialist Advisor (SSA) with a strong technical background and relentless focus on the clients, Jeevan has contributed significantly to BGL throughout his career with roles including Support Consultant, Business and Test Analyst, Simple Fund Desktop Product Manager, Simple Fund 360 Product Manager and most recently, Head of…

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SMSF firms warned on ‘weak points’ with cyber security

By In the Media, News, SMSF AdviserNo Comments

Published by SMSF Adviser, powered by MOMENTUM MEDIA
Written by Miranda Brownlee on 04 May 2022
Click here to read on SMSF Adviser website

SMSF firms warned on ‘weak points’ with cyber security

An SMSF software provider has provided a range of practical tips on how SMSF firms can protect themselves from cyber attacks.

Speaking in a recent panel discussion, BGL managing director Ron Lesh explained that firms need to adopt a multifaceted approach when addressing cyber security, which will entail a wide range of different things.

One of the starting points, said Mr Lesh, is to ensure the business is running the most up-to-date versions of software and avoid using external Wi-Fi networks.

“There are weak points in the system, and public Wi-Fi networks are probably the weakest,” warned Mr Lesh.

“It’s also a matter of having apps that are well designed and secure and keeping an eye on which ones get hacked and making sure you get updated.”

Updating passwords regularly is also an important part of protecting against cyber attacks, he added.

“Use statements as passwords, not names, places and dates of birth. [You should also use] two-factor authentication,” he recommended.

Any firms that don’t already have cyber insurance should strongly consider getting it, he said.

“If you don’t have it, you should, and you should have cyber and professional indemnity insurance together because having them separate could be a problem if there is a claim,” he warned.

Mr Lesh said it is also vital that staff receive training on cyber security.

“If you’re not training your staff, get online and sign up for someone to come and train your staff because they’re your weakest link – them clicking on a link is the weakest list link of your organisation,” he warned.

SIS compliance the next big step for AI, says BGL

By In the Media, News, SMSF AdviserNo Comments

Published by SMSF Adviser, powered by MOMENTUM MEDIA
Written by Miranda Brownlee on 21 April 2022
Click here to read on SMSF Adviser website

SIS compliance the next big step for AI, says BGL

Identifying where funds have broken major SIS rules will likely be the next big focus with artificial intelligence in the SMSF sector, said the managing director of BGL.

Speaking at a recent event, BGL managing director Ron Lesh said that while his firm has been doing a lot of work around the use of artificial intelligence over the last four or five years, there is a number of areas with SMSF administration and compliance where it can be further extended.

“All of our transaction posting is AI-based rather than rules-based and has been for a while, and there’s a review function that will tell you whether transactions have been posted to the right place using AI,” said Mr Lesh, speaking at a panel discussion at the SMSF Association National Conference.

Mr Lesh said there has also been a lot of development with the use of AI for reading documents.

“Not just reading things based on a template but reading any document of any type and a training system to train for any document of any type, we think that’s the future,” he explained.

“We think that may be the solution in the short term for tax distribution statements, but it already is for bank statements. We’ve already got hundreds of thousands of bank statements now being processed that way.”

One of the big areas that both software and audit firms are now looking at, said Mr Lesh, is using AI to help review the compliance of the fund.

“One of the things that I’m very keen to see added to what we’re already doing is a fund review that uses AI to determine whether we think the fund has broken any of the major SIS rules. I think that’s pretty important, and some of the audit firms are already trying to do that,” he stated.

While Mr Lesh said building AI models isn’t an easy process, the expansion of open banking would help development in this area.

“The ability to get a lot more data out of open banking is going to give us the ability to mine that data and really use AI to help clients understand what’s coming through better,” he said.

Mr Lesh also predicts the SMSF sector may even see one click administration five to seven years down the track as artificial intelligence becomes increasingly advanced.

BGL confirms it’s full-speed ahead for BGL REGTECH 2022

By In the Media, News, XU MagazineNo Comments

“This will be one of the first BIG in-person accounting conferences in almost two years and we cannot wait to reconnect with our clients and partners face-to-face” said Ron Lesh, BGL’s Managing Director. “We feel there really is no substitute for human interaction and have missed coming together with our community. So, we’re excited to get back to enjoying the small, special moments that only live events can offer.”

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BGL confirms it’s full-speed ahead for BGL REGTECH 2022

By Australian FinTech, In the Media, NewsNo Comments

“This will be one of the first BIG in-person accounting conferences in almost two years and we cannot wait to reconnect with our clients and partners face-to-face,” said Ron Lesh, BGL’s Managing Director. “We feel there really is no substitute for human interaction and have missed
coming together with our community. So, we’re excited to get back to enjoying the small, special moments that only live events can offer.”

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BGL to launch CAS 360 in Hong Kong

By Accountants Daily, In the Media, News, Simple Fund 360No Comments

Published by Accountants Daily, powered by MOMENTUM MEDIA
Written by Miranda Brownlee on 9 December 2021
Click here to read on Accountants Daily website

BGL to launch CAS 360 in Hong Kong

Software firm BGL Corporate Solutions is set to launch its corporate compliance solution, CAS 360, in Hong Kong in the second quarter of next year.

While the desktop version of CAS has been available in Hong Kong since 2000, BGL’s managing director, Ron Lesh, said BGL’s clients have been waiting to see when CAS 360 will be available in Hong Kong.

Mr Lesh explained that CAS 360 will prepare all the forms, minutes/resolutions, registers and other documents required for the annual return and common changes made by Hong Kong companies.

CAS 360 is already available in New Zealand, and in BETA in Singapore.

“I’m excited we can bring this sensational software to Hong Kong in mid-2022. CAS 360 will streamline our client’s processes with innovative and unique technology,” said Mr Lesh.

“CAS 360 is the complete package and will provide the same incredible efficiencies for our Hong Kong clients as it does for [over] 600,000 companies in other jurisdictions.”