BGL Corporate Solutions has provided Simple Fund 360 clients with a big data search capability to initially identify which of the SMSFs they administer are affected by the federal government’s proposed lifetime $500,000 non-concessional cap (NCC), with further enhancements intended.
“Our Simple Fund 360 big data search gives BGL the ability to quickly provide clients with this sort of functionality,” BGL managing director Ron Lesh said today.
“Combined with our agile development environment, our hosting partner Amazon Web Services and the multi-tenanted design of our market-leading SMSF software, BGL is in the unique position of being able to provide clients with software enhancements much faster than anyone else.
“BGL clients will soon have software enhancements that will make it easy for them to deal with funds affected by the other budget changes, and we have just scratched the surface of the many benefits big data can bring to our clients.”
BGL estimated the cap would affect at least 10 per cent of all SMSFs, that is, 56,000 SMSFs with 106,000 members at 30 September 2015.
The specialist software company’s agile developments mean Simple Fund 360 clients get access to up to 20 new features each month.
The release of the automated corporate actions, advanced transaction matching with BGL SmartPost Version 2 and the Audit Working Papers are just a few of the many new features BGL has delivered to its clients over the past few months.
“Change is constant,” Lesh said.
“And the numbers are increasing every day – BGL now has over 1200 firms representing almost 70,000 SMSFs using Simple Fund 360.
“Our clients have seen the huge changes in the new Simple Fund 360 over the past 12 months and are telling us they are incredibly impressed as to how far the product has come in such a short period of time.
“And these 1200 clients have now experienced firsthand the huge productivity gains this software provides.”
BGL is due to release CAS 360, the second product in its web suite, later this year.
CAS 360 will fully automate annual reviews and other document preparation processes, changing the way clients do their company compliance.