Krish Sritharan – Managing Partner, Super Centric
After only two years, Sydney-based Super Centric has grown to serve 1,400 SMSFs and 600 non-super investment portfolios by leveraging Class software.
Starting the business
Super Centric administers a portfolio of self managed super funds (SMSFs) and non-super investment portfolios for accounting and financial planning firms across Australia. As an outsourced service provider, its 20 staff members serve more than 25 firms.
When Managing Partner Krish Sritharan and his co-founder were planning the business, they knew they would need powerful software to administer a large number of funds for their clients. Only a comprehensive cloud solution could help them quickly scale up.
Krish and his co-founder were familiar with a range of administration products but found Class’ solution the best fit for their approach. Only two years into the business, Super Centric administers 1,400 SMSFs on Class Super and 600 non-super investment portfolios on Class Portfolio.
Krish considers Class software’s industrial-grade architecture and ability to automate large and complex pieces of administration to be its strongest point. The software’s design has served Super Centric well by allowing it to automate its processes such as data entry, helping it build scale and boost productivity.
“Another key advantage of the Class platform is its data feed technology,” says Krish. “The data comes directly from financial institutions into Class, making it highly reliable.”
Super Centric has also benefited from the software’s application programming interface. It has more flexibility in how it manages data and handles administration transactions.
“There’s the practical side to it, such as the automation the package allows,” says Krish. “Then there’s the technology part – how the software has been built in terms of being a cloud-based application and its robust data feed technology.”
Super Centric encourages firms without an administration technology to adopt a cloud solution to speed up fund processing. For clients who don’t use a cloud platform, Super Centric typically has to log in to a secure network to administer funds in the client’s system. This creates downtime, latency issues and access problems.
Moving to a cloud solution like Class Super makes it significantly easier – and quicker – for Super Centric to work with other firms. “It becomes an enabler that allows us to operate,” says Krish.
Super Centric highlights the lower cost of production and the efficiencies clients can gain from using Class software. According to Krish, cost is always a consideration for firms when changing software, but they need to consider the scale and productivity gains they can achieve with a cloud solution.
“Yes, it will cost you more to move to a higher-grade industry software, but you’re also going to be able to process more funds using the software,” he says. “You’ll get more efficiency from it than from spending time and resources using Excel spreadsheets, for example. You also reduce the risk associated with human error.”
Meanwhile, Super Centric’s financial planning clients also recognise the value of Class software because it allows them to easily see reports for their clients’ SMSF investment portfolios. “When you show the Class platform to financial planning firms, they typically like its setup – how it looks and presents the data,” says Krish.
Planning for growth
Super Centric plans to continue growing its number of funds and service offerings over the next few years. It is also looking forward to developing further capabilities through the Class platform, including the ability to more easily lodge tax returns for non-super investment portfolios.