The adoption of cloud technology for SMSF administration is no longer optional—it’s essential. Leveraging advanced SMSF administration software and trust accounting solutions enables firms to enhance productivity, ensure corporate compliance, and drive sustainable business growth. The recently legislated superannuation rules are going to drive more fundamental change than many people realise.
Trustees face escalating reporting obligations, including real-time monitoring of pension assets. The ATO’s push towards real-time reporting necessitates robust SMSF administration software that can handle complex trust accounting requirements and maintain compliance in corporate structures.
Cloud-based SMSF administration software offers integrated solutions where administrators have immediate access to all necessary data. With the expansion of direct-connect data feeds and cloud-connected services, managing company trusts and maintaining an accurate trust registry becomes more efficient, enhancing client service delivery.
For accountants, embracing cloud-based SMSF administration is pivotal for business growth. Firms that integrate SMSF admin solutions and trust accounting software position themselves ahead of competitors still reliant on outdated systems, ensuring they meet the evolving demands of corporate trustee services.
Transitioning to cloud-based SMSF administration software is streamlined with real-time support from providers. Accountants often find that integrating trust accounting software and corporate compliance tools not only simplifies operations but also enhances client satisfaction, prompting the question: why didn’t we adopt this sooner?
Kevin Bungard, CEO, Class
This is an excerpt from the article “Head in the Cloud” in SMSF Adviser magazine, Jan/Feb 2017. Click here to open a PDF of the full article.
