Cloud-based administration software provider Class has formally announced its selection by BT Financial Group (BTFG) to be the accounting software engine behind the recently completed BT Panorama SMSF solution.
Panorama SMSF brings together the BT Panorama investment platform and a range of complementary SMSF features and services, providing a holistic view of investors’ platform and non-platform assets, yet it allows practitioners to take a modular approach appropriate for their business models.
Class chief executive Kevin Bungard said: “This latest integration with Panorama takes collaboration between advisers and accountants to a whole new level and provides investors with a significantly improved ‘whole of wealth’ view of their SMSF investments.
“We’re proud that Class is part of this game-changing solution.”
Class was the first SMSF administration provider to make direct-connect data feeds available from BT Panorama to Class for Panorama’s cash hub, term deposits, managed portfolios and individual managed funds, which enables daily automated data entry and processing of transactions within Class.
More recently, the company also put in place a data feed between Class and BT Panorama, providing advisers, accountants and investors with a shared, automated daily snapshot of investment data on SMSF non-platform assets such as property, unlisted shares and any other assets the fund might hold.
Last week, BTFG head of SMSF Craig Lawrenson told selfmanagedsuper a big part of Panorama SMSF’s collaborative model approach was the role of data feeds with accounting software.
“What we’ve been focusing on, initially with Class and we’re working with others, is a way that we can pass our information to them and get information back to us so that at a Panorama level you’re getting a complete view of the fund, notwithstanding that Panorama may not hold all the assets,” Lawrenson said.
“Even before we had a deal on the table around who could provide our administration software, we said that part of the proposition for the accounting software was we wanted to collaborate and integrate because traditionally it’s been one-way information, us to them, but we wanted two-way information.
“So the first cab off the rank is Class and we’re open to all the others.”
Class administers over 100,000 SMSFs.
