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BGL makes new CAS 360 product updates

By In the Media, News, SMSF AdviserNo Comments

Published by SMSF Adviser, powered by MOMENTUM MEDIA
Written by Tony Zhang on 2 November 2021
Click here to read on SMSF Adviser website

BGL makes new CAS 360 product updates

BGL has made new updates for its CAS 360 platform, including the inclusion of the new upgrades to facilitate the recently introduced director ID.

In a recent update, BGL said that it had made new changes in its CAS 360 Product in October 2021.

With the introduction of director IDs being one of the biggest changes to corporate compliance work this year, BGL noted it has successfully built new features to easily facilitate the new process.

“In CAS 360, we have built a great set of features to help you through this new requirement,” CAS 360 head of product Warren Renden said.

“Each company now has a new alert, the director ID alert. This alert will show how many company directors have completed that director ID requirement when you hover over.”

Mr Renden said the director ID modal contains a number of important features.

“Firstly, you can email all company directors about the new director ID requirements; we have included an ‘introduction to Director ID’ email template, which you can customise, to let your clients know about this new requirement,” he said.

“You can see which directors have and have not completed their director ID requirements.

“You can also see if the director is also a director in any other company. If the director ID deadline date is fast approaching, you can send a reminder email to the director.

“If you do not have a director’s email address, you can add the email address via this screen. Also, once the director has completed their director ID requirements, you can add the ID number, and it will be saved against the director’s records.”

Digital signing improvements

BGL has also added some new features for clients who have CAS 360 integrated with its Digital Signing partners.

“Now, when preparing any set of documents in CAS 360, you can set that all signatories receive the signed document pack once it has been signed by all signatories. This is an option that is controlled by you as the preparer,” Mr Renden explained.

“If you are preparing an Annual Review and send it out for digital signing, you can now have the Annual Review automatically set as ‘Annual Review Complete’ when the document has been signed by all signatories.”

Also, for those that have an account with more than one digital signing provider or are in the process of transitioning from one provider to another, BGL has now added support for multiple signing providers connected to CAS 360 at the same time.

BGL also noted it had updated new ways to prepare Company Shareholder and Trust unitholder registers.

“We have built a beautiful MS Excel export of these registers,” Mr Renden added.

“We know how much you all love a good spreadsheet. CAS 360 now allows you to export these holdings and filter, sort or organise to your heart’s content.

“BGL has also added version 2 of its document management APIs for those that have documents integrated easier.

“We have a new trust relationship position in Alternate Appointer, improved the company screen hovers so they are less sensitive, and added new merge fields for addresses and capital.”

November 2, 2021
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BGL commits to supporting mental health and wellbeing with Mental Health First Aiders

By Australian FinTech, In the Media, NewsNo Comments

“I am incredibly proud of the team” said Ron Lesh, BGL’s Managing Director. “With the help of Joel Clapham, Founder and Chief Mental Health Champ at Hearten Up, all 25 members of the BGL leadership team are now accredited Mental Health First Aiders. This equates to 1 trained Mental Health First Aider for every 7 BGL team members.”

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October 27, 2021
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BGL commits to supporting mental health and wellbeing

By BGL Update, CultureNo Comments

BGL is proud to announce 25 members of its leadership team are now accredited Mental Health First Aiders.

“I am incredibly proud of the team” said Ron Lesh, BGL’s Managing Director. “With the help of Joel Clapham, Founder and Chief Mental Health Champ at Hearten Up, all 25 members of the BGL leadership team are now accredited Mental Health First Aiders. This equates to 1 trained Mental Health First Aider for every 7 BGL team members.”

“Our team has worked tirelessly through 2020/21 to produce sensational, award-winning software for our clients. Supporting their mental health and wellbeing now and into the future has never been more important” continued Lesh. “Providing our leaders with the opportunity to become accredited Mental Health First Aiders is just one of the many initiatives we have implemented over the past 2 years to better support our team.” 

Since December 2019, BGL has provided all team members and their immediate families with a complimentary Employee Assistance Program (EAP) through Relationship Matters, a not-for-profit organisation with highly trained professional counsellors who are there to help our people deal with whatever issues are impacting on their lives.

“Supporting our people’s mental health and wellbeing isn’t just a nice thing to have in brochures and policies – it is essential for any business who truly cares about their people,” said Lesh. 

In recognition of the hard work and resilience of the team over the past months, BGL will be closed for a team Thank You Day on Monday 1 November 2021. No live services will be available on this day.

If you would like to join the BGL Team, check us out at www.bglcorp.com/careers.

BGL has been recognised on the 2021 AFR BOSS Best Places to Work List as the 6th best technology workplace in Australia & New Zealand!

October 27, 2021
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BGL completes successful implementation of SuperStream changes

By In the Media, News, SMSF AdviserNo Comments

Published by SMSF Adviser, powered by MOMENTUM MEDIA
Written by Emma Ryan on 22 October 2021
Click here to read on SMSF Adviser website

BGL completes successful implementation of SuperStream changes

BGL’s Simple Fund 360 software has successfully become SuperStream Rollover compliant since 1 October 2021.

Since the start of October, SuperStream became mandatory for all member balance rollovers to SMSFs. The ATO advised all SMSF SuperStream must now be completed with SuperStream.

On 28 September 2021, BGL released a major update to its cloud-based SMSF administration software solution, Simple Fund 360, and successfully implemented the SuperStream changes.

“I am incredibly proud of the team,” Ron Lesh, BGL’s managing director, said.

“This was a huge task for BGL as not only did we need to develop the convoluted SuperStream rollover process with a new data provider, but we also needed to create a new BGL Electronic Service Address (ESA) for clients.”

Since 28 September 2021, BGL Simple Fund 360 clients have had access to a major software update that includes the SuperStream changes.

This was the fourth Simple Fund 360 update since 30 June 2021. The new software allows clients to initiate and receive member balance rollovers and process release authorities with the new BGL ESA.

BGL has also developed a number of SuperStream resources for BGL clients.

As previously advised, BGL reminded that SuperStream rollovers are not supported in Simple Fund Desktop.

“Simple Fund Desktop clients can continue their relationship with Australia Post to collect contribution and rollover data, but this data CANNOT be imported into Simple Fund Desktop,” BGL said.

“You may still receive an email from Australia Post with details of contributions and from November rollovers, or you can log in to your Australia Post account where these details are displayed.

“The new BGL ESA will support SuperStream contribution, rollovers and release authorities, but only if you are a BGL Simple Fund 360 client.

“To register with the new BGLSF360 ESA, the fund will need to be in Simple Fund 360. You can only register directly through the software.”

October 22, 2021
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BGL is SuperStream ready. Are you?

By Australian FinTech, In the Media, NewsNo Comments

Published by Australian FinTech
Click here to read on Australian FinTech website

BGL is SuperStream ready. Are you?

BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, announces their Simple Fund 360 software was SuperStream Rollover compliant on 1 October 2021. On this date, SuperStream became mandatory for all member balance rollovers to SMSFs. The ATO advised all SMSF SuperStream must now be completed with SuperStream.

“I am incredibly proud of the Team,” said Ron Lesh, BGL’s Managing Director. This was a huge task for BGL as not only did we need to develop the convoluted SuperStream rollover process with a new data provider, but we also needed to create a new BGL Electronic Service Address (ESA) for clients”.

Since 28 September 2021, BGL Simple Fund 360 clients have had access to a major software update that includes the SuperStream changes.

This was the fourth Simple Fund 360 update since 30 June 2021. The new software allows clients to initiate and receive member balance
rollovers and process release authorities with the new BGL ESA.

BGL has also developed a number of SuperStream resources for BGL clients.

Simple Fund 360 Online Help: SuperStream FAQs
https://sf360.zendesk.com/hc/en-au/sections/360002499571-SuperStream

Webinar Recording: SuperStream changes in Simple Fund 360
https://youtu.be/M8x5yXQFHUY

BGL Website: Are You SuperStream Ready?
https://www.bglcorp.com/marketplace/superstream/

BGL clients who need help with these SuperStream changes can check out the links above or contact their BGL Account Manager on 1300 654 401 or by email at info@bglcorp.com.au

October 21, 2021
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BGL is SuperStream ready. Are you?

By BGL Update, Simple Fund 360No Comments

BGL is proud to announce our Simple Fund 360 software was SuperStream Rollover compliant on 1 October 2021. On this date, SuperStream became mandatory for all member balance rollovers to SMSFs. The ATO advised all SMSF SuperStream must now be completed with SuperStream.

“I am incredibly proud of the Team” said Ron Lesh, BGL’s Managing Director. This was a huge task for BGL as not only did we need to develop the convoluted SuperStream rollover process with a new data provider, but we also needed to create a new BGL Electronic Service Address (ESA) for clients”.

Since 28 September 2021, BGL Simple Fund 360 clients have had access to a major software update that includes the SuperStream changes. This was the fourth Simple Fund 360 update since 30 June 2021. The new software allows clients to initiate and receive member balance rollovers and process release authorities with the new BGL ESA.

BGL has also developed a number of SuperStream resources for BGL clients.

Simple Fund 360 Online Help: SuperStream FAQs
https://sf360.zendesk.com/hc/en-au/sections/360002499571-SuperStream 

Webinar Recording: SuperStream changes in Simple Fund 360
https://youtu.be/M8x5yXQFHUY 

BGL Website: Are You SuperStream Ready?
https://www.bglcorp.com/marketplace/superstream/ 

BGL clients who need help with these SuperStream changes can check out the links above or contact their BGL Account Manager on 1300 654 401 or by email at info@bglcorp.com.au.

October 21, 2021
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Customer Experience Strategy: Building the boat!

By Bec Loves CX, Homepage, IndustryNo Comments

Before we can steer the ship, we must first build the boat!

Last month, we worked on coming to terms with how clients truly perceive us, and we’ve got a pretty good understanding of what remarkable experiences are. The next question we need to ask ourselves is “What’s next?”.

Before we can steer the ship, we must first build the boat! This is where your Customer Experience Strategy comes into play. Call me a CX nerd, but I absolutely LOVE this part of the process as it’s where creative freedom is your friend and you start to bring CX to life.

The CXPA defines the CX strategy as “… our intended Customer Experience, how it links to our overall organisation strategy and objectives and how it aligns to our brand values and attributes.” This will build the foundations of your approach to customer experience and give your team direction.

We need to create our vision, values, and branding, centred around CX and aligned with the business direction. This will build a foundation for realistic expectations of experience for your staff and your clients.

For some inspiration, The Ritz Carlton Hotel penned their CX vision as “We are ladies and gentlemen serving ladies and gentlemen”. When I read this, I would assume that as a customer of the Ritz I could expect an experience of a glamorous standard, to be wined and dined. In fact, I wouldn’t be surprised if Hector Elizondo from ‘Pretty Woman’ was there, ready to teach me which fork goes first. I drew this conclusion from one sentence, powerful right?

Once you have your vision, you can build on this with values. These are generally short points outlining the core values that support your vision and sets a standard of what you might look for in potential applicants that join your team in future. For example, if I were tasked with writing the values that underpin The Ritz Carlton’s vision it would comprise of words such as:

  • Opulence
  • Exclusive
  • Personal
  • Refined

Now that you have your vision and values, we need to consider what implicit and explicit promises your business is making to the wider audience. Below are some questions to ask internally and externally – Remember, we can never assume we know the answer ourselves!

  • What are our clients’ expectations of the experience we should be providing, based on the impression our brand portrays?
  • What specific promises are we making? 
  • Are our clients’ expectations of CX, and the promises we make around CX, align with our CX and business strategy?
    • Are they realistic expectations? 
    • How can we make sure we get this right from the very beginning of a client’s journey?

Now you are armed with this information, the boat won’t build itself! Block out some time to meet with your team and brainstorm how you could approach this.

October 6, 2021
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Simple Invest 360 is a ‘game-changer’

By Case Study, Simple Invest 360No Comments

”Simple Invest 360 is a ‘game-changer’ in terms of time-saving, cost efficiencies and overall administrative cohesion across both of our core divisions

About Lantana Private Wealth

Lantana Private Wealth is a high functioning, multi-disciplined firm located in Malvern, Melbourne. With both a public practice taxation division operating in cohesion with a fully self-licenced financial planning and wealth management service offering, clients are provided with a genuinely bespoke ‘one stop shop’. With the firm priding itself on maintaining a highly personalised client experience and results-driven advice process, the firm has grown into an award-winning and highly respected professional services group.

The Challenge

Efficiently implementing a software package that could be used for both ATO reporting plus client-facing performance and valuation reports

As the Director of both our taxation and wealth management division, Brett was looking for a software package that could be used for both ATO tax reporting and client-facing performance and valuation reports. Some of the initial challenges included the time in having to set up equities and cash account data feeds, particularly given as he wanted to proceed with a bulk set-up of non-SMSF entity types.

“These concerns were quickly overcome, with BGL always providing me with support from a senior product manager with a rapid response every time, invariably in less than a few hours!”

Brett was also concerned about client take-up considering how time poor many are. He found, however, that with the intuitive self-guided initial setup (including secure MFA), “…the delivery of Simple Invest 360 has been both seamless and critically enjoyed by clients.”

Why Simple Invest 360

A ‘game-changer’ in terms of time-saving, cost efficiencies and overall administrative cohesion across both of our core divisions

“We had previously been using BGL’s software offering for SMSF preparation (Simple Fund 360) and were already well aware of BGL’s abilities in this space. Being able to extend the taxation works for non-SMSF entity types, while simultaneously eliminating the then duplicated client reporting software, was a ‘game-changer’ in terms of time-saving, cost efficiencies and overall administrative cohesion across both of our core divisions.”

The Solution

The speed with which a new entity can be set up plus complete data feed configuration were integral

When looking for a technology stack solution, Brett and the team at Lantana Private Wealth focused on cost; speed of implementation; ease of implementation; reliability; support and overall, both internal and client user experience.

The speed with which a new entity can be set up plus complete data feed configuration were integral to the decision to use Simple Invest 360. “The last thing our office wants to be doing, nor our clients’ spending their time on, is having to fiddle around with clunky back-end processes and then having to test the veracity of these.”

The Results

Ever-desired transparency and assurance across the entire spectrum; more time to provide higher value work for clients

“Clients now have the ability to view their investment entities in fully APESB quality, ‘24/7’ via the web and/or via BGL’s secure mobile application (Engage by BGL). This has further increased clients’ transparency over their investments, particularly by our many HNW clients, understandably demanding higher than ever visibility over their FUM.

The fact that the taxation team, wealth management team and client are working off or viewing the same data file has saved a vast amount of time and cost in managing a secondary system, otherwise required for client reporting purposes. This is especially relevant for our firm as our wealth management division is and always has been off-platform, designed to reduce as many client-costs as possible.”

The fact that both our accounting and wealth management divisions are viewing the same data file, in tandem with clients, promotes ever-desired transparency and assurance across the entire spectrum.

With the efficiencies gained from using Simple Invest 360, Brett and the team now have more time to spend providing higher value work for their clients, without having to manage multiple systems. This includes being able to spend more time speaking with clients face-to-face or virtually, if preferred.

About Brett

After gaining experience at Deloitte and with a series of boutique advisory practices, Brett founded Lantana Private Wealth with a sole focus on individual, family groups and SME client types. Brett holds undergraduate and postgraduate qualifications from Monash University, where he was also a resident lecturer and Scholarly Teaching Fellow for four years. Brett is a registered Financial Adviser, Tax (Financial) Adviser, SMSF & direct securities specialist; and Responsible Manager of the Group’s AFSL. In Brett’s spare time, he enjoys photography, learning different languages and travelling back to Gippsland where he grew up.

October 6, 2021
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