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March 2022

BGL celebrates 25 years of Simple Fund

By BGL Update, Simple Fund 360, TechnologyNo Comments

BGL is proud to celebrate the 25th anniversary of its pioneering SMSF administration solution, Simple Fund.

“This is a huge milestone and I’m extremely proud of the BGL teams’ countless achievements over this time” said Ron Lesh, BGL’s Managing Director. “Simple Fund was launched on the Windows operating system in April 1997, at a time when people were still learning how to browse the internet, send emails and text messages. It’s quite remarkable to think that BGL has been part of the accounting software industry for over 30 years”.

BGL delivered many industry firsts within Simple Fund, including SMSF data feeds with BankLink, integration with share registries, the Audit Workpapers Module (co-developed with TAG Financial Services) and the first internet-enabled reporting tool, FundWeb. 

BGL’s continued investment in research and development together with its experienced team lead to the evolution of Simple Fund from desktop to cloud, with Simple Fund 360 now the leading cloud-based SMSF administration solution with sophisticated AI-powered technologies for smart data capture, categorisation and review.

“The software industry is one of the most competitive and innovative industries in the world with only a handful of companies that have stood the test of time, such as Microsoft (1975), IBM (1911), HP (1938) and Apple (1976),” added Lesh. “It’s a tribute to the team’s passion, innovation and perseverance that we remain Australia’s leading provider of SMSF, investment portfolio and company compliance management software, even after 30 years”.

March 28, 2022
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BGL recognised as Best RegTech Solution

By BGL Update, TechnologyNo Comments

BGL is proud to announce it has been recognised as Best RegTech Solution in the FinTech Breakthrough Awards 2022.

“This is a sensational achievement by the BGL team. I could not be prouder of each and every one of them.” said Ron Lesh, BGL’s Managing Director. “In just over 3 months, BGL has received industry recognition from FinTech Breakthrough Awards 2022 for Best RegTech Solution, Australian Enterprise Awards 2022 for Best Accounting Software Manufacturer, Lawyer International (Legal 100) 2022 for Compliance Software Innovator of the Year – Australia and from the Global Excellence Awards 2022 for Best Fund Administration Software Provider – Australia, among many others”.

“The team has worked tirelessly to ensure our clients have the best solutions to meet their needs and these awards are a tribute to their hard work,” added Lesh. “For over 30 years BGL has been the leading provider of SMSF administration, portfolio administration and ASIC corporate compliance solutions in Australia and we would not be here without our amazing team of 180+ sensational committed professionals”. 

Coincidentally, the recognition as Best RegTech Solution comes just after BGL concluded the industry’s first major face-to-face event in almost two years, BGL REGTECH 2022. The events in Sydney (01/03), Adelaide (09/03) and Melbourne (16/03) were a huge success with over 300 clients and 21 exhibitors in attendance across the three locations, with events in Brisbane, Tasmania and maybe even Perth in the near future. 

March 21, 2022
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BGL adds Company Constitutions to CAS 360!

By BGL Update, CAS 360No Comments

BGL is proud to announce the release of Company Constitutions in its cloud-based ASIC corporate compliance and trust management software solution, CAS 360.

“Another great achievement by the BGL team” said Ron Lesh, BGL’s Managing Director. “This was a highly requested feature and it’s fantastic to have some of the industry’s leading document providers partner with us on this integration.”

Changes to CAS 360 in September 2021 made it easier than ever for clients to lodge company incorporations with ASIC from CAS 360. Now, through BGL’s partnership with leading document providers Entity Makers, LightYear Docs and Smarter SMSF, clients can purchase a company constitution directly from CAS 360.

A company constitution is a legal document that defines how a company can operate. It also sets out the rights and duties of people in the company such as members, directors, and the company secretary.

“By integrating with several document providers, our clients can choose who they purchase their constitutions from. That’s what makes CAS 360 unique” added Lesh. “The BGL Ecosystem has 350+ partners and we will continue to grow our partnerships in this area.”

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March 15, 2022
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BGL hosts major face-to-face event BGL REGTECH 2022

By BGL Update, TechnologyNo Comments

BGL hosts major face-to-face event BGL REGTECH 2022

BGL is hosting the industry’s first major face-to-face event in almost two years, BGL REGTECH 2022. 

“It’s been fantastic bringing our community back together after so long apart” said Ron Lesh, BGL’s Managing Director. “We felt it was really important to run BGL REGTECH 2022 in person and our clients and partners have relished the opportunity to reconnect face-to-face”. 

“Our events in Sydney (01/03) and Adelaide (09/03) have been a huge success with over 200 clients and 18 exhibitors in attendance across the two locations” added Lesh. “We expect our Melbourne event to be the biggest yet, with over 300 delegates already registered. Add to this our live-stream attendees in Queensland, Western Australia, New Zealand and Singapore, we will have over 600 people attending”. 

The BGL REGTECH 2022 line-up boasts industry experts David Boyar FCA – CEO of ChangeGPS, Aly Garrett FCA – Founder and Principal of All In Advisory and Rebecca Mihalic – Director of businessDEPOT as well as its own gurus to add their expertise to the program exploring the evolution of the accounting industry. One session also gives clients a preview of some of the new features coming to CAS 360, Simple Fund 360 and Simple Invest 360 in the near future.

BGL REGTECH 2022 will be held at the Melbourne Convention and Exhibition Centre on Wednesday 16 March. Tickets are available at www.bglregtech.com. 

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March 10, 2022
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BGL collaborates with Cointree to provide cryptocurrency price feed NBOC

By Australian FinTech, In the Media, IndustryNo Comments

Published by Australian Fintech on 07 March 2022
Click here to read on the Australian Fintech website

BGL collaborates with Cointree to provide cryptocurrency price feed NBOC

BGL Corporate Solutions, Australia’s leading provider of SMSF administration, portfolio administration and ASIC corporate compliance solutions, in collaboration with Cointree, a leading cryptocurrency exchange, announce the release of NBOC; an Australian based solution providing a daily price feed for hundreds of cryptocurrencies.

“This is an industry first solution, and we are extremely proud to have developed NBOC together with our long-term friends and partners at Cointree,” said Ron Lesh, BGL’s Managing Director. “Unlike stocks on the ASX that cease trading every afternoon and have a single price, cryptocurrencies are traded 24/7 across multiple exchanges and in multiple countries. This makes accurate valuation challenging. So, BGL and Cointree developed NBOC to solve this problem for our clients with the goal of making cryptocurrency valuations reliable and more accessible for everyone.”

“We have witnessed a significant increase in SMSFs and trusts investing in cryptocurrency over the last five years,” said Shane Stevenson, Cointree’s CEO. “There is an increasing need to value cryptocurrency trades accurately and with confidence. The BGL team has been fantastic to work with and we are all very excited to deliver an industry-first solution to SMSFs.”

Cryptocurrencies are a growing asset class in BGL’s Simple Fund 360 and Simple Invest 360 which now administers $100’s of millions in cryptocurrencies. NBOC’s exclusive daily automated data feed will provide Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency for SMSFs, companies, trusts and individuals. The cryptocurrency valuation is used for calculating values for financial reports and member balances at 30 June.

NBOC aggregates the public pricing data from five of Australia’s largest and longest-running crypto exchanges; Cointree, BTC Markets, CoinSpot, CoinJar and Independent Reserve. Combining this data provides a ‘fair and reasonable’ valuation. As each exchange may have differing prices, NBOC will generate valuation taking into account these differing prices.

“The BGL Ecosystem has 350+ partners and we are thrilled to add Cointree NBOC to the list,” added Lesh.

March 7, 2022
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CAS 360 Product Update – March 2022

By BGL Update, CAS 360No Comments

The CAS 360 March 2022 update release is a huge release, to coincide with the BGL REGTECH 2022 running across the country we have released some of the most exciting features for our users. 

What's new?

Automated Debt Reminders

The time for an automated, set and forget ASIC debt management (pictured right) has arrived. CAS 360 can now automatically remind your clients of their outstanding debts to ASIC. 

In the settings menu, Automated Reminders has been added. This feature needs to be activated by your firm before it starts sending reminders. 

You have control over the frequency of reminders, who the sender is, the email template used, the invoice attached and who the emails are sent to. 

The reminders will be sent throughout the day, and almost always within business hours. The reminders will be sent when the debt checking and verification process with ASIC has been completed.

We have also implemented an Automation report (pictured right) that will be shown to users who have the automated reminders activated. 

If you have set up automated reminders, and no email address has been provided for the contacts in that company, you will be notified that an email could not be sent from CAS 360. 

The automation report will also include Automated Document Reminders that have been sent sine the last time the user logged in. 

The automation report can also be exported to PDF or MS Excel. 

The automation report will be shown to the user on login, if there have been reminders sent by CAS 360 on the account since their last log in.

Purchase Constitutions 

In 2021 Changes were made to CAS 360 to allow all firms to lodge company incorporations with ASIC, directly from CAS 360. All that is required, is your agent to have a direct debit account with ASIC. That’s it. 

Building on that great enhancement, we have now added the ability for you to purchase a company constitution directly from within CAS 360 (pictured right). 

We have partnered with Entity Makers, LightYear Docs and Smarter SMSF to bring this great feature to you. 

If you have considered registering companies in CAS 360, you now have all of the documents required, including a company constitution, and the software to do it 😃

Advanced Document Screen Filters

The Global Documents screen (pictured right) in CAS 360 is one of the most used and frequented screens, and we have now added a powerful search to help you find anything you need on this screen.

From the documents screen, you can now create your own filters and even save that as the default, did anyone ask for label filters? Yes, you did, you know who you are. We have label filters and much more.

You can now filter document records by:

Company Name, Trust Name, Agent, Document Type, Due Date, Penalty, Trace Number, Document Status, Partner and Labels!

All filters can be saved, and all saved filters are accessed at the click of a button.

The document screen has never been so powerful.

2-Factor Authentication for Digital Signing

Users can now require 2-factor authentication on digital signing documents. This can be a requirement for the whole document pack or just for individual signatories.

As part of this feature, we have also re-designed the whole Electronic Signing Options screen (pictured right).

From this screen, you can toggle on the 2-factor authentication requirement. You are also able to select which signers have this requirement.

From this screen, you can also add email and phone numbers to the contact record, as well as see the documents that the contact is going to be required to sign.

As the 2-factor authentication for digital signing is handled by CAS 360, there is no additional cost to use this.

Also in this update is the ability for users to void a Digital Signing document from within CAS 360, this can be done on the documents screen, via the Options dropdown.

Lastly with digital signing, now when selecting for the signers to receive the completed signed document pack, the preparer will also receive the completed document pack via email.

Director ID added to Annual Review screen

The Director ID features from the Companies screen have now been added to the Annual Review screen, this allows users to check the Director ID status of each company prior to the annual review being sent out. 

A number of other Director ID features have also been added to this release, now we will validate the Director ID number that is entered in, this will be checked with the Director ID algorithm. Also when preparing Officer appointments and Company Registrations the Director ID letter will be included.  

Ability to CC company contacts in Multi-Annual Review process

Users now have the ability to automatically include important company contacts such as Billing Contacts, the Partner or the Manager when processing Annual Reviews.

This can be done on the Email Validations step, where you can see all the emails that are going to be sent out. Toggling on these options will add the email addresses for each company’s annual review.

All of this and so much more includes the ability to remove lodgement permissions for users, enhancements for Joint Members and Trusts via multi-company documents, improvements to our Officers API, a new consent to short notice for the AGM, and improved support for more than one Annual Review per year when a company changes it review date.

March 7, 2022
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BGL collaborates with Cointree to provide cryptocurrency price feed NBOC

By BGL Update, Simple Fund 360, Simple Invest 360No Comments

BGL in collaboration with Cointree, a leading cryptocurrency exchange, is proud to announce the release of NBOC; an Australian based solution providing a daily price feed for hundreds of cryptocurrencies.

“This is an industry first solution, and we are extremely proud to have developed NBOC together with our long-term friends and partners at Cointree” said Ron Lesh, BGL’s Managing Director. “Unlike stocks on the ASX that cease trading every afternoon and have a single price, cryptocurrencies are traded 24/7 across multiple exchanges and in multiple countries. This makes accurate valuation challenging. So, BGL and Cointree developed NBOC to solve this problem for our clients with the goal of making cryptocurrency valuations reliable and more accessible for everyone.”

“We have witnessed a significant increase in SMSFs and trusts investing in cryptocurrency over the last five years,” said Shane Stevenson, Cointree’s CEO. “There is an increasing need to value cryptocurrency trades accurately and with confidence. The BGL team has been fantastic to work with and we are all very excited to deliver an industry-first solution to SMSFs.”

Cryptocurrencies are a growing asset class in BGL’s Simple Fund 360 and Simple Invest 360 which now administers $100’s of millions in cryptocurrencies. NBOC’s exclusive daily automated data feed will provide Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency for SMSFs, companies, trusts and individuals. The cryptocurrency valuation is used for calculating values for financial reports and member balances at 30 June.

NBOC aggregates the public pricing data from five of Australia’s largest and longest-running crypto exchanges; Cointree, BTC Markets, CoinSpot, CoinJar and Independent Reserve. Combining this data provides a ‘fair and reasonable’ valuation. As each exchange may have differing prices, NBOC will generate valuation taking into account these differing prices. 

“The BGL Ecosystem has 350+ partners and we are thrilled to add Cointree NBOC to the list” added Lesh.

For more information, visit: https://www.nboc.com.au/ 

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March 7, 2022
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