BGL has released a “BIG DATA” update to its cloud based SMSF software Simple Fund 360 to help SMSF accountants and administrators cope with the 1 July 2017 superannuation changes.
“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” said BGL Managing Director Ron 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,” he said.
Simple Fund 360 also includes a Contribution Dashboard, which displays real-time contributions compared to the limits, and a Pension Dashboard, both of which “instantly provide a simple graphical view of a fund member’s position”.
Mr Lesh said all information shown in the software is in real-time, because Simple Fund 360 automatically allocates contributions and pension payments to member accounts each day.
“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. And with Simple Fund 360’s zero-touch processing, our clients can achieve this today.”