SuperConcepts has released a new document management system.

SuperConcepts has released an intelligent document management system (DMS) within its leading SMSF accounting platform, SuperMate.

SuperMate users will now be able to scan or email documents which are then automatically read, categorised and filed via the new document management system.

Kurt Groeneveld, Chief Technology Officer at SuperConcepts said, ”The advanced capability of our new document management system is not only a first in the SMSF industry, but also within the broader financial services and accounting software markets.

“The system leverages the latest capability from leading technology companies across the world”

“The system leverages the latest capability from leading technology companies across the world, providing cutting edge augmented intelligence and machine learning to drive significant efficiencies for our accountants and advisers.”

Using machine learning algorithms the DMS recognises and correctly allocates documents just as skilled human operators would have done in the past.

SuperMate users are already benefiting from the automated classification of documents. This capability will improve over time as the system learns from each new document filed.

Mr Groeneveld said, “The document management system builds on SuperMate’s existing capabilities like automated bank reconciliation. It does this through intelligent workflow technology which can deduce the correct approach to processing different situations within a typical SMSF administration operation.

“SuperMate’s new document management system can make a fund ‘audit ready’ with virtually no human input required.”

The new system will help auditors with the annual audit of funds as documents are completely text searchable. SuperMate’s Audit API also highlights transactions that don’t have the required supporting documents.

The launch of the intelligent document management system is part of SuperConcepts’ ongoing commitment to provide a leading SMSF technology solution and high-quality service to accountants and advisers, helping to improve their business.

SuperMate is a cloud-based, double entry system which provides access to more than 222 data feeds. The platform continues to be one of the market-leading solutions with access available from $5 per fund per month.

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Michael Spakman

SuperConcepts has announced a partnership with legal document provider, Topdocs to provide SMSF advisers with a more efficient way to order and complete relevant legal documents on behalf of their clients.

Available in the second half of 2016 through SuperConcepts’ superMate platform, the service will help advisers populate SMSF documentation with fund information contained in their superMate account, reducing the time it takes to order and produce legal documents.

SuperConcepts Chief Technology Officer, Kurt Groeneveld commented on the continued investment in its technology platforms.

“Our partnership with Topdocs is part of our ongoing commitment to provide a leading technology solution to SMSF advisers, allowing them to run a more efficient business.

“We will continue to invest in our technology platforms to support accountants, financial advisers and administrators so they can ultimately spend more time focusing on their customers and the growth of their business,” he said.

The service is in the final stages of design and integration with the superMate platform. The service will also allow superMate users to update SMSF trust deeds in groups rather than completing individual order forms, adding further efficiency.

Topdocs Director, Michael Spakman said the new integration will be the first of a number of technology initiatives planned with SuperConcepts to add new document services.

“We are working with SuperConcepts to utilise their cloud-based technology to provide their clients with a range of streamlined document ordering solutions.

“A key focus at Topdocs is to provide innovative solutions to SMSF advisers to enable them to quickly and easily access quality documentation. Our partnership with SuperConcepts is one example of our vision to develop continuous process improvement for the SMSF industry,” Mr Spakman said.

Owned by SuperConcepts, superMate is a cloud-based, double entry accounting system for SMSF advisers, which provides access to more than 175 data feeds. The platform continues to be one of the market-leading solutions with access available from $9.75 per fund per month.

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The new platform allows accountants, administrators and financial advisers to access more insights across their client base. This has been coupled with an intuitive navigation design that increases the platform’s efficiency.

Kurt Groeneveld, Chief Technology Officer, SuperConcepts said the refreshed platform improves service quality.

“The new version of superMate is based on extensive testing and feedback from existing superMate users, with a focus on simplification and a better user experience.

“We’ve designed the platform to provide accountants, administrators and advisers with data analytics as part of a new Business Home Dashboard – the first of its kind in the market.

“Updated daily, the dashboard analyses business operations across compliance, communication and efficiency, and identifies opportunities for growth,” he said.

The update to superMate is part of SuperConcepts’ ongoing commitment to provide a leading SMSF technology solution and high-quality service to accountants and advisers, helping to improve their business.

“The wealth of data provided on the superMate platform will allow accountants and advisers to draw effective business insights from their client base. It’s an opportunity to enhance the level of service they are able to provide to their customers,” Mr Groeneveld said.

superMate is a cloud-based, double entry system which provides access to more than 175 data feeds. The platform continues to be one of the market-leading solutions with access available from $9.75 per fund.

Following the launch of SuperConcepts in January, superMate’s branding has been refreshed to reflect the new design. The platform can be viewed at http://supermate.com.au/.

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The new name, SuperConcepts, incorporates the range of services the business now offers  including SMSF administration, education and software services.

Existing brands including AMP SMSF Solutions, Ascend, Cavendish, Justsuper, Multiport, SuperIQ,  SuperMate and yourSMSF will operate as sub-brands of SuperConcepts. The  business will remain wholly owned by AMP.

Natasha Fenech will continue to lead the business, moving from her role as Managing Director, AMP  SMSF to the role of Chief Executive Officer, SuperConcepts.

“We have grown considerably over the last year, both organically and through a number of strategic  acquisitions, increasing our scale and efficiency in a rapidly growing and highly-fragmented  SMSF administration market,” Ms Fenech said.

“This change  unifies our businesses and teams, better positioning us to pursue the next  phase of our growth strategy, which will be driven by high-quality customer service, access to a range of market leading SMSF product providers and the ongoing delivery of a superior SMSF software solution, SuperMate,” Ms Fenech  said.

The SuperConcepts brand, which has been operating in the SMSF market since 1985, was selected after extensive market testing.

“We know from our research that the brand is well regarded, trusted and resonates with our customers across all of our services,” Ms Fenech said.

Customers will not experience any immediate change to how they interact with their provider. All customers are encouraged to contact their relationship manager with any questions.

Appointment of SuperConcepts board and leadership team

The SuperConcepts business will be supported by its own board, including a non-executive chairman  and five directors, to continue with the strategy to grow the scale of the business.

Mr Richard Grellman AM has been appointed as Chairman of the board. Mr Grellman has significant experience in financial services, gained through more than 30 years at KPMG and a number of roles as Chairman and Non-executive director of several public  companies, including Crowe Horwath.

Other appointees to the board include:

• Andrew Bloore, former Chief Executive Officer, SuperIQ
• Jonathan  Deane, Chief Innovation Officer, AMP
• Stuart  Forsyth, Director and Consultant, McPherson Super Consulting and former ATO  Assistant Deputy Tax Commissioner for Superannuation
• Paul  Sainsbury, Chief Customer Officer, AMP
• Natasha  Fenech, Chief Executive Officer, SuperConcepts

“We’re excited by the knowledge and expertise the new board will bring to our business,”  Ms Fenech said.

In addition, a new leadership team comprising nine people has been established to support the  growth of the SuperConcepts business.

Stephen Doulgeridis, founder of Justsuper has been appointed as General Manager, Business Development, while former Supercorp Chief Executive Officer, Kurt  Groeneveld, has been appointed as Chief Technology Officer.

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Paul Sainsbury

AMP SMSF has acquired the SMSF administration business of Queensland-based administration and superannuation software developer, Supercorp Pty Ltd, effective immediately.

AMP SMSF will wholly acquire Supercorp’s daily and annual administration business under the YourSMSF brand, which has 1,200 accounts, and take a 19.4 per cent stake in Supercorp’s software solution Supermate.

AMP SMSF Managing Director Paul Sainsbury said the acquisition reflected AMP SMSF’s focus on growth and the customer experience.

“Building scale and efficiency in our SMSF administration systems and processes is a priority for us as it will mean a better overall experience for our customers.

“SMSFs are the fastest growing superannuation segment and the addition of a further 1,200 accounts through our acquisition of YourSMSF positions us well for further growth and cements our leading position in the SMSF administration market.

“Technology is a key enabler in this market so we are also pleased to be investing in Supercorp’s software solution, Supermate, and we look forward to working closely with them on future technology developments,” Mr Sainsbury said.

Kurt Groeneveld, the founder and CEO of Supercorp said: “AMP has quickly established itself as a leader in the self-managed superannuation industry and through its different SMSF businesses has had the opportunity to use a number of major SMSF administration technology options.  We are therefore delighted that they have chosen to become a significant shareholder in Supercorp’s Supermate technology.”

AMP is in the process of contacting Supercorp’s YourSMSF customers about the acquisition and both AMP and Supercorp are working on bringing the respective SMSF administration operations together with a focus on ensuring customers are not disrupted by the change.

AMP’s Multiport SMSF administration business has been a long term client of Supercorp’s technology solutions and uses the Supermate software as part of its administration platform.

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