SMSF software and practitioner marketplace Mclowd has announced Brisbane-based administration firm Super Plus is migrating clients to the platform as part of a five-year agreement.
The move, which will shift hundreds of clients to Mclowd, is poised to reduce Super Plus’s prospective licensing costs by more than $30,000 a year, Super Plus managing director Phillip Whiteley said.
“We are delighted to be at the vanguard of a new model of innovation, which offers Super Plus the opportunity to help shape the evolution of the software on an ongoing basis,” Whiteley said.
The Mclowd platform has been developed using a decentralised and low-cost model, with the product roadmap shaped by the community of thousands of users.
The firm’s marketplace provides a crowdsourcing platform for trustees and practitioners.
Mclowd founder and managing director Ashley Porter said the agreement is a “signpost to future expansion”.
“The old software vendor model is being replaced around the world by truly democratic, customer-driven platforms, operated at ultra-low cost,” Porter said.
“With savings of up to 90 per cent, we expect more and more firms to follow Super Plus’ lead, and with that the power of the community and the marketplace becomes unstoppable.”