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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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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/ 

Learn More
March 7, 2022
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Simple Fund 360 and Simple Invest 360 Product Update – March 2022

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

We are excited to announce another major update for Simple Fund 360 and Simple Invest 360! You can learn what’s new at our New Features Webinar on Thursday 14 April 2022 at 11:00 AEST. Register Now >>>  

The full release notes can be found on the BGL Community >>>

What's New?

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.

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. Click here to learn more >>>

Exclusive to Simple Fund 360

SuperStream Improvements: A new SuperStream Rollover / Release Authorities report has been added to Simple Fund 360 for audit / workpaper purposes. We continue to work to improve the SuperStream process for clients.

Smarter SMSF Integration: Two new documents have been added to Simple Fund 360 via our integration with Smarter SMSF. Click here to learn more about our seamless two-way integration >>>

Rollover In (PAYG – $55)

Generates documents to support a super benefit rollover or a super death benefit rollover for a member into the SMSF in accordance with the SuperStream requirements. The following documents will be generated as part of the order:

  • Trustee minute confirming receipt of the rollover and allocating to member’s account within prescribed time frame
  • Member notification of rollover received

Rollover Out (PAYG – $77)

Generates documents to support the payment of a super benefit rollover or a super death benefit rollover for a member from the SMSF in accordance with the SuperStream requirements. The documentation provides for:

  • full and partial rollovers,
  • transfers to APRA funds and other SMSFs.
  • Payments made by cash and in-specie.

The following documents will be generated as part of the order:

  • Member request to rollover benefits
  • For full rollover, a pre-populated ‘ATO Request for rollover of whole balance of super benefits between funds’
  • Trustee minute confirming requirements to pay the rollover and meet the SuperStream requirements within prescribed time frame.
  • Member notification confirming payment of the rollover.

Plus, many more features and improvements. Don’t forget to check out the full release notes on the BGL Community >>>

Previous release notes can be found below:

Regards, The BGL Team

March 4, 2022
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Important update on BGL REGTECH 2022 – Brisbane

By BGL UpdateNo Comments

Due to the ongoing weather emergency in Queensland and the inability to access the Convention Centre, we need to cancel BGL REGTECH 2022 - Brisbane.

All registered attendees, sponsors and partners have been emailed with further information.

Our team is here to help answer any questions you may have, so please do not hesitate to email us at [email protected] for more information.

We appreciate your understanding during this time and thank you for your continued support.

Stay safe.

Regards, The BGL Team

February 28, 2022
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BGL celebrates CAS 360’s 5th anniversary

By BGL Update, CAS 360No Comments

BGL celebrates CAS 360's 5th anniversary

BGL is proud to celebrate the 5th anniversary of its cloud-based ASIC corporate compliance and trust management software solution, CAS 360.

“I’m incredibly proud of the team and their achievements over the past 5 years” said Ron Lesh, BGL’s Managing Director. “When we launched CAS 360 on 22 February 2017, our product team consisted of 7 members: Warren Renden, Andy Tam, Mark Flynn, Adam Polat, Dubi Laviati, Jeremy Hofsteede and Olly Weinmann. And in just 21 weeks, the team added over 600 clients and 100,000 companies to the platform. It’s been full steam ahead since then.”

“Today, the CAS 360 product team has grown to 23 members supporting 2,600+ clients, 640,000+ companies and 100,000+ trusts across Australia, New Zealand and Singapore” continued Lesh.

CAS 360 has revolutionised the way ASIC corporate compliance work is managed in Australia with its streamlined Annual Review process, including automated tracking, downloads, database comparison review and delivery of the annual statement pack to clients. Plus, daily automated smart alerts help users easily manage Annual Review dates, document deadlines and company debt.

In the past 5 years, CAS 360 clients have added 2.2m contacts, prepared 5.4m document packs, sent 2.1m emails and processed 230k dividends. Quite an incredible achievement!

“The future is bright for CAS 360” added Lesh. “We have big plans for 2022 including the official release of CAS 360 Singapore (currently in beta), the release of CAS 360 Hong Kong, the start of work on CAS 360 United Kingdom and further development in Australia and New Zealand. Certainly, watch this space!”

Watch CAS 360 DemoCheck out the TOP 50 CAS 360 features
February 22, 2022
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BGL celebrates Daniel Tramontana’s 25 years

By BGL Update, CultureNo Comments

BGL is proud to congratulate Daniel Tramontana, our Chief Operations Officer, who recently celebrated 25 at BGL.

“It’s not something that happens often these days” said Ron Lesh, BGL’s Managing Director. “Daniel joined BGL on 10 February 1997 in the support team. I would never have thought he would still be with us after 25 years”.

1997 was a big year at BGL. Not only did Daniel join the team, but BGL released Simple Fund, Simple Invest and Simple ledger. Previously, our only software product was the Corporate Affairs System (CAS). Daniel added a new area of competency to our support and training teams as he brought with him a Bachelor of Computer Science & Accounting.

Through his time at BGL, Daniel obtained a Master in Business Administration and a Six Sigma Black Belt qualification.

Daniel’s contribution to BGL has been enormous. From support to client and team training, to helping BGL grow from a business of 10 people to a business of 180 people – he has had his hand in every pie and BGL would not be where it is today without him.

“My BGL journey has been extraordinary” noted Daniel Tramontana. “Our success is directly attributed to the incredibly loyal and committed team of people. To be able to serve and work alongside such talented people has been an honour and a privilege that I do not take for granted. It is with great anticipation that I am able to take the next step and continue to drive and grow the business.”

“I would personally like to thank Daniel” added Lesh. “His contribution over the 25 years has been incredible and I am so privileged to have worked with someone of his calibre for such a long period of time”

February 21, 2022
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CX Faux Pas – a letter from a friend

By Bec Loves CX, Homepage, IndustryNo Comments

Do you know that friend in your life who’s honest and will tell you when your shirt is horrible and to never wear it again? Or that you have lunch in your teeth and making a fool of yourself? Well, I’m that friend and I’ve written you a letter.

Dear New Friend, 

I have met many people in the past that have tried to engrain CX through their business. I’ve seen some succeed and some commit a total faux pas. I care about you and I’m here to help you avoid being the latter.

Customer Service and CX Confusion: Customer service and client experience are not the same.

  • Zendesk defines customer service as “the act of supporting and advocating for customers in their discovery, use, optimization, and troubleshooting of a product or service.”. 
  • Whereas their definition for customer experience is “Customer experience (CX) is everything related to a business that affects a customer’s perception and feelings about it.”

Although not the same, it is important to note that they are very much integrated. To succeed in the CX space, you should always strive to provide optimal customer service but that only scratches the surface of CX – Don’t be fooled! Avoid thinking CX has been implemented successfully if you’ve only mastered customer service. 

CX Responsibility: Who is responsible for CX is not up for debate.

You can’t simply give everyone in the company full responsibility for implementing CX and hope it grows organically, it won’t. However, you also can’t give one employee soul responsibility for CX because it is a culture you need to nurture. Culture doesn’t come from one person; everyone needs to be on the same bus and heading in the same direction! It’s a terrifying concept trying to think of how to get everyone on the same page, I know, but once you get momentum there’s no stopping you.

Depending on the size of your business, would recommend appointing someone (or a team) into CX role(s). It’s their responsibility to drive CX strategy and continuous improvement. In addition to this, it’s every single employee’s responsibility to take that strategy and bring it to life. One in, all in and if not, maybe they caught the wrong bus?

Technology: CX isn’t just about having the latest technology.

As an example, BGL implemented Zendesk in 2018 as our core technical support platform and yes, it’s one of the greatest pieces of technology in the support space but it’s not the only reason BGL has one of the best support offerings in our industry. 

Here’s only some of what sets us apart in Technical Support:

  • The Zendesk platform
  • An amazing, knowledgeable, and hungry Support Team
  • Strong backing from leadership and other BGL Teams
  • A Documentation Team that creates invaluable content
  • An Admin Team that acts as your first point of contact
  • Product Teams that push industry-leading software
  • Detailed workflows and processes to set the standard
  • KPI’s and data-driven decisions
  • Culture! 

My point is, it’s great that BGL has Zendesk and it makes CX easier to implement, but we wouldn’t be successful without all the moving parts.

Touchpoints: CX is not just one touchpoint in one part of the company – It's every touchpoint!

Often people make the mistake of thinking CX is most important in their Support Teams or Account Management Teams however, the fact is that it is every single touchpoint your clients have with your business (directly or indirectly).

It’s the greeting they receive at reception, it’s the website look and feel, it’s the webinar you run, it’s even down to the way some random person talks about your business in a forum. EV-ER-Y THING!

Please don’t make the mistake of thinking it matters more in any one space throughout the business! 

 

My friend, I hope that I have guided you in the right direction and in some way helped you to avoid being the person with lunch in their teeth. My final piece of advice, for now, is to not overwhelm yourself with the big picture. Zoom in, break it down bit by bit and adopt this as a lifestyle change. You’ve got this, I know you do.

So, how will you approach CX and avoid the faux pas?

Love, 

Your CX BFF

February 17, 2022
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BGL announces integration with advisory and reporting software

By Accountants Daily, In the Media, NewsNo Comments

Published by Accountants Daily on 16 February 2022
Click here to read on Accountants Daily website

Simple Fund 360 and Simple Invest 360 are now integrated with advisory and reporting software AVA Systems, which will provide clients with a holistic view of their portfolio.

BGL Corporate Solutions managing director Ron Lesh said integration between Simple Fund 360, Simple Invest 360 and AVA Systems provides consolidated portfolio reporting for fund, trust, company and individual portfolios, which gives clients a holistic portfolio view.

AVA Systems chief executive and founder Andrew Quinn said he was pleased with the partnership and to be able to offer BGL clients AVA’s grouped reporting tool straight from their platform.

“I have been in the corporate advisory and insolvency sector for over a decade and saw the niche for accountants needing software to become more hands for their clients,” said Mr Quinn.

“Coupled with [AVA’s] family grouped reporting ability and [AVA’s] integration with BGL, AVA can now allow accountants to advise on how their clients are doing swiftly and efficiently. Superannuation, investments and businesses all tied into one.”

Apart from integrating with the BGL product suite through Simple Fund 360 and Simple Invest 360, AVA also allows clients to consolidate Xero ledgers, with more integrations coming in the near future.

“This is a real win-win for our clients,” added Mr Lesh.

February 16, 2022
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