New online SMSF admin service unveiled

Internet service to improve productivity

By Darin Tyson-Chan
Tue 17 Mar 2009

A new online SMSF administration software system has been launched.

Software provider Supercorp has launched a new web-based administration system for self-managed superannuation funds (SMSFs), with features designed to improve the efficiency of these retirement savings structures.

The superMate system is a desktop application that is deployed by the internet with information stored centrally.

"It's not browser-based and we didn't build it that way because we wanted to have a footprint on each organisation's personal computers so that they can link in with other products in our organisation like document management systems and those sorts of things," Supercorp Australia managing director Kurt Groeneveld said.

Supercorp is expecting users of superMate to experience greater productivity and efficiency through its workflow application and its data integration functionality.

"The workflow design leads people through all of the tasks required to be performed, so it ensures all of these tasks are completed and it identifies tasks that are still outstanding," Groeneveld said.

"The other side is the data flow. Wherever you can get electronic data it means the data will not have to be manually typed in and it will be incorporated in a more timely manner."

While superMate can produce all of the required regulatory reporting at the end of the financial year, clients can use it to get an up-to-date picture of the status of an SMSF at any time throughout the year.

The new system will be charged to users based on the number of funds being administered by superMate. Groeneveld said this method will allow potential clients to effectively trial the application before fully committing to using it.

The superMate system will be available to the market early during the third quarter of 2009.

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