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RSDataWeb and Topdocs integration live
This short video demonstrates the automatic integration via web services between RSDataWeb and the leading online legal document facilitator Topdocs.
Subscribers to our RSDataWeb platform can now easily order, pay for and receive a wide range of legal documents online right from inside RSDataWeb.
The video shows an accountant using RSDataWeb select one of their SMSF clients, reviews its stored client data for completeness / correctness and subsequently orders and pays for a customized Trust deed document in one go.
This online process takes only a few clicks with the mouse and results in an automatically populated and downloaded trust deed to the accountant’s section on RSDataWeb. Enjoy the video and send us your comments below this blog entry!
Going forward and in close cooperation with our partner Topdocs we will make all current and future Topdocs legal documents available to our RSDataWeb users.
Author: Wolf Schumacher
Topdocs & RewardSuper simplify ordering of legal documentation
Topdocs are very excited to be partnering with RewardSuper utilising RSDataWeb as a further advancement in the Web based technological integration within the SMSF Industry.
RewardSuper allows accountants to capture and reconcile their clients’ transactions, coding automatically to select SMSF Administration Systems such as BGL, Desktop Super, Handisoft, Supercorp - superMate, and Acurity Online by Financial Synergy.
Topdocs has developed a secure, automated online document production facility with high quality SMSF & Corporate documents that allows for Software as a Service (SaaS) integration with third party providers like RewardSuper.
How the integration works
The integration with Topdocs allows RSDataWeb users to seamlessly utilise the data already contained in their existing system to either:
- Produce fully tailored SMSF and Corporate documents at the touch of a button - where all required data is held in their system; or
- Automatically pre-populate online order forms - where part of the required data is contained in their system (with the Accountant to complete only the remaining data requirement).
This integration enables Accountants to order documents such as a new SMSF at the touch of a button, without the need to complete an order form!
Benefits abound
The benefits to the Accountants using RSDataWeb include:
· providing their clients with a more cost effective and simplified solution for their document delivery;
· increased accuracy & consistency of quality; and
· the provision of legal oversight by Topdocs Legal where appropriate.
Special pricing is available through Topdocs for Reward Super clients and there are a number of payment methods available.
Wide range of legal document types available
The documents to be available on an automated basis through Topdocs & RewardSuper include:
- SMSF Establishments with individual or corporate trustees
- Company Registrations with fully tailored documents emailed to the user within 20 minutes
- Instant online SMSF Pensions (ABP, TRIS, AP Conversions, ABP & TRIS resets)
- Investment Strategies
- Other Super Fund documents including SMSF Borrowing, Deed Updates, Trustee & Member Changes, Lost Deeds and BDBNs (all with legal oversight)
- Discretionary, Unit and Hybrid Trusts
Topdocs and Reward Super - a Winning Solution
RewardSuper already provides many benefits to Accountants using SMSF Administration platforms. The embedded automated Topdocs document solution enhances this even further, significantly reducing the time and cost in ordering and receiving legal documents. Imagine establishing a Self Managed Superannuation Fund with a Corporate Trustee at the touch of a button – or instantly producing fully tailored and complete SMSF Pension documentation!
Author: Jake Spakman, Managing Director Topdocs Pty Ltd
Data integration in the context of SMSF industry integration
(click image to zoom)
Our valued blog contributor and SMSF specialist Aaron Dunn very recently published an excellent overview of the SMSF industry in his highly respected SMSF blog www.thedunnthing.com. His chart depicts various categories with its major players. What the chart doesn’t show is the dataflow between the players.
This blog post discusses elements of the transactional dataflow between SMSF industry players.
Network thinking is not prevalent in the SMSF industry
For years “straight-through processing” has been a catchword in the Financial Services Industry. While a lot has been achieved over the years, the SMSF industry players and adjacent data generating industries are not thinking and acting in networks (yet). Too many entities still think they can do it all themselves and leave their Accounting and Advice clients alone with barely integrated compliance solutions (aka accounting software) and a few data feeds. What is missing is true network thinking and acting and using web-services technology which is readily available today but unfortunately not used enough. The industry is stuck with on-premise accounting software and vendors who try to bolt on web features to their existing products; some being more successful than others, though.
RSDataWeb, the “Switzerland” of accounting and advice systems
At RewardSuper we’ve understood that the Internet has dawned on the SMSF industry and that network thinking and acting are the way to make it stick. Not only web services technology but the willingness to actively exchange data electronically without manual intervention is the way forward. With our RSDataWeb solution, we are at the bleeding edge of this new technology adoption. We team up with forward thinking companies in the industry to automatically hook up client authorized data streams such as share trading data, and feeding the resulting cleaned and fully matched data into the compliance systems of choice, such as BGL Simple Fund, Acurity, superMate and others. In the industry we are all in this together with trying to deliver the best possible data as quickly as possible and untampered by manual interventions into the books of SMSFs (i.e. trial balances).
Integrating the SMSF accounting data value chain
The key to data integration and resulting high data quality is for the players in the data value chain to let their systems talk to each other across all process steps. No manual interventions such as keying in contract notes data into compliance software, which represent broken links in the data flow (see picture). While the process flow should be automatic to represent true integration, there needs to be ongoing control of the process by the process owners. In the example of an SMSF conducting share trades, there are three types of owners: trustees, who decide and effect trades, stock brokers, who execute trades on behalf of the trustees, and accountants, who also act on behalf of the trustees by making sure that the trades are correctly represented in the SMFS's books.
The example process has two integration points
(1) The broker’s order system automatically produces trade confirmations (aka contract notes) for their clients, the trustees. With RSDataWeb the contract notes are automatically picked up and reconciled with the cash book.
(2) RSDataWeb automatically codes all reconciled transactions and delivers them to the respective accounting system.
Both integration points need to be carefully monitored by the accountants (via automatically produced exception reports), who are in control of the process from step 3 onwards. An automated, integrated and well controlled process delivers the results, which the trustees the Auditors and the SMSF regulator rightfully expect to see.
Author: Wolf Schumacher
