BGL to enhance AI, phase out desktop
SMSF software provider BGL Corporate Solutions has announced a range of changes to its Simple Fund 360 platform for accountants, including enhanced artificial intelligence capabilities and the discontinuation of several desktop versions.
Addressing the BGL REGTECH conference in Sydney on Wednesday, BGL managing director Ron Lesh said the group was focused on improving automation and data use and moving to more modern versions of its SMSF and accounting platforms over the next 12 months.
“We’ve just released stage 3 of our AI (artificial intelligence) for Simple Fund 360, which gives us the ability not only to use the AI to find control accounts but also to find subsidiary accounts,” he said.
“We also released data feeds from Boardroom Registry, which gives us 98 per cent coverage of the share registries now that we’ve got Computershare, Boardroom and Link.”
In keeping with this, BGL had decided to shelve some older versions of both Simple Fund 360 and its CAS 360 accounting software due to increasing demand for mobile-focused services from clients.
“With Simple Fund desktop, we are getting rid of the 25 and 50 company version, so the minimum version will be 100 companies and everyone will pay a subscription at their next renewal for whatever that happens to be,” he said.
“A couple of our data suppliers on desktop are also discontinuing their services. SIS and Computershare have come to us to announce they won’t be delivering data to our desktop from the 31st of March next year, primarily because there aren’t enough people using it.”
Among the other new features expected to be released in the software over the coming year, Mr Lesh said BGL planned to make document purchases more efficient as well as make an SMSF-adjacent platform for accountants with high-net-worth clients.
“We are going to build more document integration, which is an opportunity for clients to buy documents on the basis of the numbers of documents you need — it’s a subscription model where you can pick whether you want 50 or 100 or 250 documents a year,” he said.
“We’re also going to start building a non-SMSF product, so you will be able to keep investment registers for trusts and companies as part of Simple Fund 360.”