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Teagan Crozier

BGL recognised as one of Australia’s most innovative companies

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

BGL is proud to announce that it has once again been recognised by the AFR BOSS Most Innovative Companies program as one of Australia’s most innovative companies.

BGL achieved an impressive rank of #13 in the Technology category and #83 overall on the AFR’s 2024 Most Innovative Companies list. This marks the 4th time in 6 years BGL has been included on the AFR list. 

“This is a sensational achievement by the BGL team,” said BGL’s Founder and Director, Ron Lesh. “I’m incredibly proud of each and every team member for their hard work and passion for innovation.”

BGL’s 2024 AFR submission featured the BGL AI Assistant, the world’s first generative AI tool for financial analysis, transforming how BGL clients—accountants, administrators and advisors—interact with financial data, unlocking deep insights into SMSF, company and trust financial statements.

Integrated into BGL’s Simple Fund 360 and Simple Invest 360 software solutions, the BGL AI Assistant analyses balance sheets, operating statements and cash flow statements, delivering intelligent commentary, identifying trends, assessing financial strength, evaluating performance and highlighting any cash flow concerns and red flags. It enables BGL clients to unlock unprecedented insights regardless of their expertise, empowering them to make strategic decisions and optimise financial performance for their clients. 

Additionally, the BGL AI Assistant enhances workflow efficiency by automatically generating suggested tasks from financial documents and allowing users to ask specific questions about the data.

“We’ve only just begun to tap into the potential of generative AI,” added Lesh. “There are even more exciting developments on the horizon and we can’t wait to continue driving innovation for our clients.”

October 24, 2024
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BGL and Registry Direct streamline compliance for public companies

By BGL Update, CAS 360No Comments

BGL is proud to announce integration with Registry Direct to streamline compliance requirements for listed and unlisted public companies.

The integration seamlessly connects BGL’s company, trust and ID verification management software, CAS 360 with Registry Direct—an advanced share and unit registry platform. This collaboration provides public companies with comprehensive tools to meet their complex legal obligations, including shareholder management, TFN and AIIR reporting and withholding tax calculations.

“We are excited to welcome Registry Direct to the BGL Ecosystem” said BGL’s CEO Daniel Tramontana. “This integration will help our clients simplify and centralise their compliance tasks, ensuring listed and unlisted public companies can efficiently meet their regulatory requirements. By combining the power of CAS 360 with Registry Direct’s extensive registry services, clients will experience a more streamlined, automated solution that reduces manual workloads and mitigates compliance risks.”

Steuart Roe, Managing Director at Registry Direct said: “We are thrilled to announce the launch of our integration with BGL’s CAS 360 product. This integration will simplify the process for accountants and advisers, helping them assist their listed and unlisted public company clients on the CAS 360 platform to meet their legal obligations. Specifically, Registry Direct’s platform facilitates the provision of TFN and AIIR reports to the Australian Tax Office, holding shareholder meetings and calculating resident and non-resident withholding tax for dividend payments—each a legal requirement for public companies. These and other great features on our platform perfectly complement CAS 360, creating a complete compliance and share registry solution. We are the perfect marriage.”

“With this integration, BGL clients managing listed and unlisted public companies can now seamlessly transfer data between CAS 360 and Registry Direct” added Tramontana. “This ensures synchronised data across both platforms, enabling automated ATO reporting, dividend payment calculations, and shareholder communication—all in one place.”

BGL’s API is used extensively across the industry with 400+ data feed and integration partners in the BGL Ecosystem, delivering a holistic experience to BGL clients. 

About Registry Direct

Registry Direct provides share and unit registry services and software to thousands of companies and trusts operating in Australia, from start-ups to multinationals. The platform is comprehensive, easy to use and proven by client use and demand. For more information, visit www.registrydirect.com.au. 

September 23, 2024
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BGL integrates with AuditCover for hassle-free SMSF audit insurance

By BGL Update, Simple Fund 360No Comments

BGL is proud to announce its integration with AuditCover, a leading provider of hassle-free tax audit insurance for SMSF clients.

The integration seamlessly connects BGL’s market-leading SMSF administration software, Simple Fund 360, to AuditCover—an InsurTech solution that provides comprehensive tax audit insurance to protect SMSFs, businesses and individuals from unforeseen professional fees arising from tax audits.

“We are excited to welcome AuditCover to the BGL Ecosystem” said BGL’s CEO Daniel Tramontana. “This integration empowers BGL clients to offer their SMSF clients reliable protection against unexpected accounting fees associated with tax audits. Accountants now have the ability to share insurance options with their clients effortlessly, helping them add value to their services.”

The integration simplifies the quoting process for BGL clients. It automates campaign setup, policy renewals and client communications ensuring a hassle-free experience for accountants and their clients. With flexible options, accountants can send personalised quotes to their entire client base or onboard new clients with tailored coverage.

“AuditCover’s seamless integration with Simple Fund 360 ensures accountants can protect their clients while keeping administrative workloads to a minimum” continued Tramontana. “The ease of use, combined with cost-free practice integration, makes this partnership a valuable addition to the BGL Ecosystem.”

Gil Snir, CEO at AuditCover commented on the integration: “We’re thrilled to be partnering with BGL to bring tax audit insurance to over 300,000 SMSFs on their platform. With ATO scrutiny on SMSF compliance at an all-time high, this integration is incredibly well suited for the current landscape. BGL clients can now provide access to insurance solutions for their SMSF clients in just seconds, adding value and simplifying the entire process.”

Brad Wilkinson, Head of Ecosystem at BGL, said: “Our clients value solutions that simplify complex processes and this integration with AuditCover offers just that—an easy, efficient way to ensure their clients are protected. With access directly from Simple Fund 360, setting up and managing audit insurance has never been easier.”

BGL’s API is used extensively across the industry with 400+ data feed and integration partners in the BGL Ecosystem, delivering a holistic experience to BGL clients. 

For more information, visit www.auditcover.com/bgl. 

About AuditCover

AuditCover is the technology-driven tax audit insurance provider serving thousands of taxpayers, accountants, and small businesses across Australia. As a trusted partner to leading accounting firms, AuditCover makes tax audit fee protection faster, more secure, and delivered directly to the taxpayer.

Integrated with leading accounting software, including Xero, MYOB, and BGL, AuditCover transforms audit insurance into a seamless process for everyone, eliminating painful paperwork, lengthy setup times, and ensuring data security. AuditCover is changing tax audit insurance for good, offering firms and their clients more choice and freedom when it comes to tax audit fee protection.

For more information, visit www.auditcover.com. 

September 18, 2024
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Simple Fund 360 and Simple Invest 360 Product Update – 22 August 2024

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

What's New?

Support Calls
The user interface and search functionality for support calls have been upgraded to improve the user experience. Learn More

SMSF Annual Return and Schedules Report
A new report of the SMSF Annual Return and the schedules containing data has been added. Learn More

Workflow
The following improvements have been made to Workflow:

  • Templates can be rearranged by users.
  • Financial year and completion date have been added to Template Usage export.
  • The same template is now selectable from Workflow Jobs view for multiple financial years.
  • The Last Task Description and Completion Date are now in separate columns in the Workflow Jobs export

Corporate Actions
The following mergers have been added to Corporate Actions:

  • HAU.AX 28th June 2024
  • BLD.AX 10th July 2024
  • QVE.AX 16th July 2024
  • BYE.AX 17th July 2024
  • MRM.AX 26th July 2024
  • CSF.AX 29th July 2024
  • ALU.AX 1st August 2024
  • GNX.AX 1st August 2024

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

August 27, 2024
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BGL unveils AI powered BGL SmartDocs integration in CAS 360

By BGL Update, CAS 360No Comments

BGL is proud to announce the integration of its AI-powered document solution, BGL SmartDocs, into its company, trust and ID verification management software, CAS 360.

The integration assigns each entity in CAS 360 a unique email address. When documents are sent to this address, they are automatically processed and attached to the relevant document packs, ensuring a streamlined workflow and significantly reducing manual handling.

“This is another huge step for BGL and I am incredibly proud of our hard-working team who made this integration possible” said BGL’s Chief Executive Officer, Daniel Tramontana. “This new feature is set to enhance the user experience for our CAS 360 clients. I couldn’t be more excited to deliver this cutting-edge solution to minimise manual processes for our users.”

BGL SmartDocs saves time even when documents are not digitally signed. By leveraging AI, signed and unsigned documents can be identified and uploaded to CAS 360. Signed documents update the document status in CAS 360 and all documents are automatically attached to the existing document pack.

Warren Renden, Head of CAS 360 at BGL, added: “Integrating BGL SmartDocs into CAS 360 represents a significant leap forward in our commitment to improving efficiency and administration workflows for our clients. With this powerful new feature, our clients can utilise the BGL SmartDocs AI to automatically attach client-signed documents to the correct CAS 360 record simply by forwarding an email.” 

For more information on this update, please visit click here.

August 6, 2024
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Simple Fund 360 and Simple Invest 360 Product Update – 1 August 2024

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

What's New?

Reports Screen
A new Trust Income Schedule Reconciliation Report is now available in Workpaper Reports. This new report makes it easier to reconcile the data on the ATO Trust Income Schedule for the 2024 financial year. Learn More

Contacts
Duplicate contacts can now be merged using the new Contact Merge feature. Learn More

Special Disability Trust
Special Disability Trust has been added as a trust type in the Entity Details and Entity Setup screens. Learn More
This feature is exclusively available in Simple Invest 360.

Reports
A new report setting allows customisation of the titles of Financial Reports. Learn More
This feature is exclusively available in Simple Invest 360.

Division 7A
The Division 7A Loans screen can now be exported to PDF. Learn More
This feature is exclusively available in Simple Invest 360.

Corporate Actions
A question mark icon and brief explanation have been added to the Donation/Refund feature for Dividend Reinvestment Plans (DRPs). The validation also now prevents Donations or Refunds from being processed if the residual balance is zero. Learn More

Corporate Actions
The NVIDIA (NVDA) 10 for 1 share split and the following 6 mergers have been added to corporate actions.

  • GSR: 18 Jun 2024

  • ABC: 02 Jul 2024

  • MEA: 28 Jun 2024

  • SLR: 20 Jun 2024

  • PBP: 19 Jun 2024

  • MGF: 22 Jul 2024

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

August 2, 2024
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BGL integrates with Oxygen to streamline SMSF loan applications

By BGL Update, Simple Fund 360No Comments

BGL is proud to announce integration with specialist SMSF mortgage lender Oxygen to streamline SMSF loan applications.

“We are excited to welcome Oxygen to the BGL Ecosystem” said BGL’s Chief Executive Officer, Daniel Tramontana. “With easy access to Oxygen’s suite of tools and a seamless application process, Simple Fund 360 clients can now streamline SMSF loan applications for their clients.” 

Sydney-based Oxygen is a specialist SMSF mortgage lender that provides high-quality advice, competitive loans and a hassle-free experience. The integration connects Oxygen with BGL’s award-winning SMSF administration software, Simple Fund 360, via BGL’s free open API.

Ben Taylor, Managing Director at Oxygen Home Loans said: “We are excited to have the opportunity to partner with BGL via digital integration into its world class technology platform. We look forward to collaborating with BGL clients to deliver better outcomes for SMSF members purchasing property to secure a comfortable retirement. Our goal is to deliver a digital solution to make the complex SMSF mortgage application easier and more streamlined for all concerned and this is a big step towards this goal”. 

Jeevan Tokhi, General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs at BGL said: “BGL clients can access the Oxygen integration via the property dashboard in both Simple Fund 360 and Simple Invest 360. Clients can automatically sign up to Oxygen’s website using their BGL login credentials. From there, they can use Oxygen’s comprehensive calculator to estimate a client’s ability to purchase an investment property, as well as a high-level quote tool and a seamless application process. Oxygen can also provide referrals to assist with the mortgage application”. 

Oxygen is a proud sponsor of BGL REGTECH 2024, Australia’s premier accounting technology event taking place in Adelaide (14/08), Perth (15/08), Brisbane (21/08), Sydney (22/08), Hobart (27/08) and Melbourne (29/08). Register for free today and visit the Oxygen team at their exhibition stand.

July 29, 2024
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