http:// 2013-05-24T00:21:00Z 2013-05-24T00:21:00Z invitbox-celebrates-a-new-era-with-paperless-billing-in-australia

Sydney, Australia, 24 May 2013 – Invitbox, an Australian start-up that has developed the world’s first cloud-based data-extraction solution for paper bills, celebrated its first year anniversary today with the acquisition of 600 clients in Australia and processing $120 million worth of electronic bills in the first year with its technology. Invitbox has simplified accounts payable processing by eliminating the need for data entry. By leveraging the cloud and using Invitbox’s patent pending, rule-based data extraction technology, businesses will no longer need to receive bills by hand or post. Suppliers will only need to send a PDF bill by email to a company branded Invitbox email address and data from these bills will be extracted and presented to a client for approval on Invitbox. Data can then be exported to Xero, Saasu, MYOB, QuickBooks, Adept and other financial systems for payments to be processed after approval. Invitbox has been designed to automatically price-check against unit prices to ensure clients are not being overcharged and it allows users to export data into other POS and ERP systems to reconcile inventory levels. Roger Gregg, CEO/Founder of Invitbox said, “Invitbox is helping clients change the way they do things. With Invitbox, we have solved some of the fundamental business challenges the bookkeeping and accounting industry is facing by helping them manage their costs better and to streamline processes. However, Australian businesses need to change their accounting practices and overhaul the current practice of paper billing to achieve real cost efficiencies and organisational productivity.” “The future of bookkeeping and accounting is changing and businesses can embrace this by incorporating Invitbox in its accounts payable process to give their bookkeepers and accountants the freedom from having to perform repetitive tasks – like data entry. This will allow them to offer more strategic value and services to their clients.” Since its launch, Invitbox estimates that it has helped an average customer save up to $15,000 annually or an average of 75% in the cost of processing bills. Invitbox is endorsed by the Institute of Certified Bookkeepers and is fully compliant with the Australian Taxation Office’s record retention requirements. Invitbox customer, Jade Dixon, CFO of The Riversdale Group said, “Invitbox has significantly reduced the need for data entry in our invoice processing. The tool grows with your business and can free you of the additional costs involved with hiring and managing staff.” According to Invitbox, approximately two billion bills are sent between business-to-business and business-to-government organisations annually in Australia. The Australian market for electronic billing is under developed and businesses are failing to realise the cost efficiencies and productivity gains they can achieve with the adoption of electronic billing. Invitbox estimates the cost to Australian business of manual data entry to be $60 billion a year, and that the value of the market for solutions like Invitbox to be worth more than $1 billion and this sets a path for the company’s growth and expansion in the accounts payable processing market. Invitbox will be showcasing its solutions at CeBIT Australia in Sydney from 28-30 May 2013. It will also be on a national roadshow with Xero at the Your Business on Xero Event Series for Accountants and Bookkeepers from 27-31 May 2013. – ENDS – About InvitboxInvitbox is the world’s first cloud-based data-extraction solution for bills. It simplifies Accounts Payable processing and eliminates the need for data entry and paper bills to allow businesses to be more efficient. Media ContactAnthia Crosby Espresso Communications Ph: +61 8016 2200 M: +61 422 072 717 E: anthia@espressocomms.com.au

2013-05-22T02:19:24Z perth-property-developer-implores-renters-do-everything-you-can-to-become-a-homeowner

Perth, WA, May 22, 2013 - In a recent blog post on their website, 4Land Property Group alerted its readers to a recent report from statistics firm RP Data. The report, called Autumn Investor Guide, predicted that both rents and property values would double in many Australian suburbs in the next ten years.RP Data identified suburbs whose rental and housing sales markets had the potential to double in the next ten years. Due to compounding, a steady growth of 7.2% over ten years causes prices to double in ten years. Consequently, 7.2% annual growth became the baseline number for suburbs predicted to double by 2023.The report found 263 suburbs that showed the necessary growth to double housing prices, but found 792 suburbs where rent is projected to double in the same time frame. In another 582 suburbs, rents were projected to undergo an annual growth of 5.5% or higher per year.Victoria and NSW had the most suburbs projected for prices to double, with 68 and 65 respectively. Sydney had the most suburbs with rent projected to double, with 249. Perth would come in second with 181 suburbs poised to see rents double in the next decade.The only possible mitigating factor for Perth and WA is that they have been in a mild growth pattern for five years, due to the mining boom. There is a chance that the State’s growth will level off before ten years is up. However, even if growth in Perth and WA does level off, RP Data analyst Cameron Kusher still projects a lot of opportunity in the area for at least the next five years.For those who are in a position to purchase a home, or for property investors, the report is seen as good news, because those who buy now could see their home’s value double in the next ten years. This report is not great news for renters though as it indicates that rent prices are going to continue to increase, and that rents are growing at a faster percentage than income, even in the middle of a mining boom.According to Lauren O'Connor, Marketing Manager of 4Land Property Group, renters who wait too long to buy a home could find themselves frozen out of the housing market: “We all know that the biggest hurdle facing first home buyers is finding enough money for the deposit. When it used to be relatively inexpensive to rent a house, it made sense for many to rent, and take their time before buying.”O'Connor continued, “We have watched the market here struggle to make it back after the global financial crisis. Even with the mining boom, housing seemed to be the last thing to recover. But the market has rebounded, and it is now more expensive to rent than it is to make home loan payments in many Perth suburbs.”O'Connor added, “We have developed six successful communities, many of which specialise in first home buyers. Because we have been able to offer house and land packages for approximately 30% less than the cost of the median established home in neighbouring areas, we have had a very active market for our properties.”O'Connor concluded, “But this announcement could make prices rise even faster. If you wait too long to buy a house, it could be too late.”4Land Property Group develops house and land packages in planned communities in Perth suburbs and outlying areas. Call 08 9301 4445 to learn more or visit their website: http://www.4land.com.au/.

2013-05-17T02:10:55Z hasty-decisions-costing-first-home-buyers-up-to-89-000

Rockingham, WA, May 17, 2013 - In the past year, Baldivis has become known as a haven for first home buyers. The combination of pent-up demand, a recovering WA economy, low interest rates, and reasonably-priced housing in Baldivis has combined to produce a market that is conducive to young buyers seeking their first homes.However, many first home buyers are paying as much as $89,000 extra over the life of their home loans, because they are not doing their due diligence. Buyers who struggle to save for a down payment find themselves putting down minimum deposits as low as 3% on their homes. According to industry estimates, as many as 33% of first home buyers are making minimum deposits on their homes.When a buyer makes a deposit below 20%, lenders not only add a host of upfront fees, but also charge more interest for their loans. Using average industry numbers, if two buyers purchase homes for $320,000, and one deposits $80,000 while the other deposits only $40,000, the borrower who made the smaller of the two deposits ends up paying a total of $89,935.75 more over the lifetime of their loan than the buyer who made the larger deposit.According to a recent blog post, The Mortgage Gallery Rockingham says that buyers should be wary of these costs, and recommends four strategies for first home buyers to lessen their debt burden by eliminating a portion of the upfront costs.Their first recommendation is to do due diligence on their respective state's grants for first home buyers. In WA, each first home buyer gets a one time grant totalling $7,000. These grants vary from state to state, with the N. T. offering a $25,000 grant for all homes except established homes in urban areas.For many first home buyers, it makes sense to find a guarantor. This is usually a relative who has enough equity in their house to put it up as collateral. This can eliminate a lot of the upfront costs that lenders add in to accounts with less than sterling credit and insufficient deposits.It is also important for first home buyers to make sure that their credit reports are clean and their credit ratings are as high as possible. When a loan doesn't fit a lender's ideal recommendations, they add a lot of upfront costs. For example, when buying a $400,000 house in NSW, with a deposit of $40,000, an extra $25,337 would be tacked on to the cost of the loan.According to Justin Smith, Principal of The Mortgage Gallery Rockingham, it is extremely important for anyone seeking a first home loan to do their due diligence. According to Smith, “In today's climate, especially for a first home buyer, it is important to shop around and find the best terms for your loan.”Smith continued, “The easiest way to shop around is to hire an experienced mortgage broker and let them shop around for you. Experienced mortgage brokers know which lenders are more friendly to which situations, and have access to many lenders from their desktops. Instead of driving around to a bunch of banks and loan companies, all you have to do is have your broker find the best deal for you.”Smith concluded, “Always hire a professional mortgage broker. You will save time, effort, and money.”The Mortgage Gallery Rockingham brokers home loans in Baldivis, Rockingham, Kwinana, and surrounding areas. For more information, call (08) 9527 1800 or visit their website: http://www.themortgagegalleryrockingham.com.au/

2013-05-14T22:53:00Z challenger-limited-continues-growth-focus-through-strategic-expansion-of-simcorp-dimension

SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that Challenger Limited, an ASX listed investment management company and Australia's leading annuities provider, has committed to expand its use of SimCorp Dimension. This will continue to enhance Challenger’s capabilities, particularly in offering their boutique partnership operations a truly integrated platform. A major factor in Challenger's decision to extend its license was SimCorp's sustained investment in research and development, as evidenced by the continuous enhancement of the company's investment management solution. “The latest evidence of SimCorp’s development efforts is the newest suite of front office products. SimCorp is now offering quality front office functionality but with the one clear additional benefit, it is truly integrated with the back-office, eliminating the need for data transformation and reconciliation, which creates savings versus a disparate systems environment,” David Mackaway, General Manager Operations, Challenger said. In 2003, when Challenger first considered SimCorp Dimension, the company had approximately $10 billion in funds under management. It was faced with the need to either isolate its legacy system and attempt to remove the dependencies of a platform ill-equipped to meet future business demands, or invest in a modern investment management system. Mr Mackaway said “When choosing SimCorp as our partner in 2003 it was extremely important to ensure we had an operational environment that was able to service a diverse business model that was likely to invest in a diverse range of securities across a range of markets. As the business grew, it would also need to become more efficient and effective with scale.” In the decade since, Challenger has used the SimCorp platform to establish a central investment book of record as the fundamental, accurate source of information used across the organisation and across all processes. Today, Challenger is managing funds in excess of $40 billion and is one of Australia’s most efficient financial services companies with a cost to income ratio of 35 per cent. Mr Mackaway said, “Having technology that allows you to position yourself with unique market products is key to continuing growth. SimCorp as our partner has had the capabilities and capacity to support our growth to date. As we continue to grow and expand into new markets we look forward to our ongoing relationship with SimCorp in achieving our goals.” Managing Director for SimCorp Asia, Peter Hill, said, “Challenger has been an important part of our growth in the Australian market as well as an excellent sparring partner for our development process as we enhance the functionality of our product, SimCorp Dimension. We believe that Challenger's experiences are testament to the ways in which modern technology can help shape the course of a business with great success.” About Challenger Challenger Limited is an ASX listed investment management company managing in excess of $40 billion in assets. Challenger is Australia’s leading annuities provider and manages around $10bn on behalf of over 60,000 annuitants. Challenger’s funds management business is Australia’s ninth largest fund manager and includes Fidante Partners. Fidante Partners comprises 11 co-owned, separately branded boutique active investment managers, managing over $26bn. The boutique fund managers strive to deliver sustainable superior investment performance across a broad range of investment strategies including fixed income, global credit, inflation-linked bonds and Australian and global equities. About SimCorp Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers. SimCorp’s world-class software provides global financial organisations with the tools they need to mitigate risk, reduce cost and enable growth. SimCorp is a global company, regionally covering all of Europe, North America and Asia Pacific. Listed on the NASDAQ OMX Copenhagen, SimCorp is dedicated to supporting the global investment management industry, its clients and its investors. For more information about SimCorp’s products, please visit www.simcorp.com/product

2013-05-14T01:03:00Z nearly-half-of-australia-s-finance-professionals-hunting-for-new-job-survey

Media Release Nearly half of Australia’s finance industry hunting for a new employer - survey Australia, 14/05/2013 - Almost most half (46%) of Australia’s finance professionals intend to move to a new employer in 2013 according to a recent survey conducted by eFinancialCareers the leading global career site network for professionals working in the investment banking, asset management and securities industries. The eFinancialCareers Employment Survey* found the intended movement of Australian finance professionals resulted from a continued lack of career progression in their current firm (54%), perceived higher pay at other employers (38%) and frustration with a lack of recognition for their accomplishments (33%). These factors motivating employees to leave their current firm were also cited as the main reasons in the 2012 eFinancialCareers Employment Survey. The desire to change employers amongst Australian finance workers (46%) compared favourably to finance centres Singapore (64%) and Hong Kong (74%) respectively for 2013. “The slowdown in hiring activity has led to less people movement between financial services companies. For finance professionals this means there has been less opportunity to take advantage of internal openings created by staff turnover, and the large scale layoffs experienced at the end of last year are also likely to have stalled the potential for some individuals to progress within their organisations. While many companies are mindful of the risk associated with losing top talent, outward pressures can’t always be overcome. In this situation we tend to see more candidates looking externally for a chance to advance their careers despite the challenging hiring environment,” said George McFerran, Managing Director APAC at eFinancialCareers. Not just about the moneyWhen asked what factors, apart from compensation, would be critical in their decision to move to a new employer, a supportive culture and good working environment came top, followed by a defined career progression. The survey also found that two thirds of Australia-based finance professionals (65%) were keen to keep their flexible working arrangements if they were to move to a new employer. Ends * The eFinancialCareers 2013 Employment Survey was conducted in April 2013. The survey polled a total of 512 employed bankers and finance professionals in Hong Kong, 572 in Australia, and 1,262 in Singapore. The survey explored current issues and trends in employee retention in key finance hubs, in the region’s finance sector. About eFinancialCareers: eFinancialCareers, a Dice Holdings, Inc. service, is the leading global career site network for professionals working in the investment banking, asset management and securities industries. The website provides financial services professionals with job opportunities, job market news and analysis, salary surveys and career advice. Recruiters and employers can post jobs targeting specific sectors within the financial services industry, both buy-side and sell-side, and can search the resume database for highly qualified and specialized professionals. eFinancialCareers has a network of co-branded career sites with industry-leading trade publications and offers local websites in 19 markets and five languages primarily across North America, Europe, Asia-Pacific, and financial centers of the Middle East. Please visit www.eFinancialCareers.com.au for more information. For media enquiries and more information, contact Cape Public Relations Pty Ltd:Ph +61 2 8218 2190 Emeere Roberts: emeere@capepublicrelations.com M: 0432 746 564

2013-05-13T00:50:50Z yourcarlog-com-launched-in-australia

YourCarLog, the simplest and  most  effective way to keep a car log for FBT or reimbursement purposes, has today been launched in Australia online at www.yourcarlog.com by Sydney-based start-up Positive (Gamma) Technologies. YourCarLog Founder and Positive (Gamma) Technologies CEO Ben Caplan said the technology behind the service is a world first. “YourCarLog brings together several aspects of commonly used technologies and marries them to produce an automated logbook solution that is extremely simple and cost effective,” Mr Caplan said. Caplan said the need for a simple car logging solution has been a requirement of corporates and SME’s for years as businesses wanted to find an easier way to maintain the data, reduce FBT liability and to free up valuable employee time. “Many of us have laboured and begrudgingly filled in a manual log book for our car expenses or tax requirements, and even large fleet operators believe they only get between 60 to 70 percent compliance. A painful compliance requirement can be simplified by using every day systems,” Mr Caplan said. “And even when the log books are completed properly, it still requires manual data entry from the book to an accounting or finance system. This creates significant double handling by adding an extra layer of expense, which in today’s business world is simply ineffecient.” YourCarLog produces Car Usage reports that can be used for Australian tax purposes and expense reimbursement. A user only requires an electronic diary, such as Microsoft Outlook, gCal or iCal to log the destination of each meeting. YourCarLog calculates the kilometres travelled to produce the required reporting and will assist in identifying the difference between personal versus business related trips at the click of a mouse. “YourCarLog can save large companies with fleets and small business owners, hours of unnecessary paperwork, improved accuracy and transparency, whilst  increasing productivity. YourCarLog is the missing link in this once complex compliance requirement. The system works on the users existing platforms – no hardware to buy or software to install,” Mr Caplan said. Subscriptions start from as little as $18 per month and reports are securely stored for five years. Enterprise solutions can be customised to meet business requirements. _________________________________________________________________________ For all media enquiries please contact:   Ben Caplan CEO, Positive (Gamma) Technologies M: 0419 277 747 E: ben_caplan@positivegamma.com.au   Julian Khursigara COO, Positive (Gamma) Technologies M: 0418 679 283E: julian_khursigara@positivegamma.com.au

2013-05-12T22:51:00Z growing-number-of-businesses-owned-and-operated-by-women

12 March 2013 Growing number of businesses owned and operated by women New Zealand currently has more women than ever in business and they are having a significant impact on the economy — earning more and employing more staff. According to the latest MYOB Business Monitor, a survey of over 1,000+ SMEs, 41% of small and medium businesses in New Zealand are owned and operated by women. MYOB national manager, enterprise division, Allison Fairkettle, says although females are still outnumbered by men in terms of business ownership, the increase of women in business is incredibly positive. “Three years ago, only 37% of SMEs were owned by women, so it’s great to see that a growing number of women are running their own businesses. “Not only are they paving the way for more females to do the same but they are also having a positive impact on the wider economy,” says Mrs Fairkettle. The Business Monitor highlighted that on average, females employ more staff than males — 33% of females have one or more employees, while only 29% of males do the same. “This is fantastic news for local job seekers,” says Mrs Fairkettle. “Although numbers have been rising recently, New Zealand’s current job market can benefit from more women in business who, according to our survey, are more likely to employ staff.” Examining where women choose to run their businesses, the Business Monitor revealed that rural New Zealand has a strong appeal for women, with 25% of females in business working in rural areas compared to only 19% of male business operators. Due to the rebuild, Christchurch has become the engine room of the country’s economy and is the main centre with the smallest gender gap for SME operators. “41% of Christchurch SMEs are owned and operated by females, compared to 39% in Auckland and 37% in Wellington. “Last year, the Business Monitor revealed that businesswomen in Christchurch were disproportionately affected by the earthquakes reporting a higher revenue loss than males and lower levels of optimism. “Despite the challenges of the earthquakes, its great to see so many women in Christchurch still owning, running and starting new businesses,” says Mrs Fairkettle. Some regional areas show even stronger representation of women in business, with 57% of businesses in the Waikato owned by women, 51% in Northland, and 50% in the Bay of Plenty. In Manawatu-Wanganui, however, just 19% of SMEs are owned by women. In addition to a growing representation of women among business owners, the Business Monitor highlighted that women are now earning just as much, if not more, than men in business. A higher number of women are reporting higher revenue gains in the Business Monitor (33%) than men (31%), while fewer are reporting losses (25% of women in business compared to 29% of men). “The Monitor also indicates that a higher percentage of businesses operated by females earn more than $200,000 a year,” says Mrs Fairkettle. “This is despite the fact that on average female business owners work 5.5 hours a week less than males – an indication perhaps that women are finding ways to work smarter in their business. “Overall, it’s inspiring to see that more women are establishing their own highly successful businesses and that they are having a positive impact on the local economy by doing so.” -ends- For further information or to arrange an interview please contact:Gerard Blank Elaine KollerThe Agency Communications Limited MYOBTel: 03 341 5841 Tel: 09 925 3514Mob: 0275 243 629 Mob: 029 777 0256Email: gerard@theagencynz.co.nz Email: elaine.koller@myob.com About the MYOB Business MonitorThe MYOB Business Monitor is a national survey of 1,000+ New Zealand small and medium business owners and managers, from sole traders to mid-sized companies, representing the major industry sectors. It has run since 2009, commissioned to independent market research firm Colmar Brunton. This most recent survey ran late January/early February 2013. The Monitor researches business performance and attitudes in areas such as profitability, cash flow, pipeline, technology usage and the government. The weighting of respondents by both geographical location and sector is based on overall market proportions as established by Statistics New Zealand and is drawn from an independent survey group, which includes both MYOB clients and non-clients. About MYOBEstablished in 1991, MYOB is one of New Zealand’s largest business management software providers. Its 50+ products and services have been employed by over one million businesses in New Zealand and Australia. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more. With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with business partners and customers. Visit myob.co.nz/smarterconnections.

2013-05-08T01:20:00Z iq-group-expands-queensland-operations-to-meet-superstream-demands

MEDIA RELEASE IQ Group Expands Queensland Operations to meet SuperStream DemandsMELBOURNE, 8 May 2013 - Specialist technology, operations and risk consultancy, IQ Group announces the addition of consulting team members and new client wins as a result of its successful expansion into Queensland. The only specialist superannuation consultancy based in Brisbane has rapidly expanded its consultancy team to meet the requirements of both superannuation and wealth management clients facing industry and legislative reforms.Launched in September 2012, the Queensland operation has ramped up its consultancy team to meet the high levels of customer interest in its niche services. As the superannuation industry prepares to meet increased APRA reporting requirements and SuperStream reforms it is maintaining watch on the broader projects and benefits that these provide.Led by Principal Consultant, Ron Mullins, the move into Queensland has been favourably acknowledged by local financial services sector players. "With the industry initiatives and implementation challenges of the SuperStream reforms, we are working with clients to support their business and operational initiatives. As many organisations take the opportunity to ensure technology upgrades can further improve business outcomes, we are working on initiatives beyond the SuperStream remit," he outlined.For IQ Group's CEO, Graham Sammells it is not just about SuperStream projects: "We have been engaged on a series of client sites to now not only implement the legislative changes already announced, we are reviewing the overall member engagement processes and the specific improvements that new and enhanced platform technologies can provide. Queensland is proving to be a highly dynamic business environment for IQ Group and we look forward to continued growth of our team of specialist consultants and clients."IQ Group has also launched a SuperStream Community of Practice Forum designed to bring together like minded professionals to specifically share SuperStream experiences and provide a learning and career development platform. Today organisations from Queensland and the Northern Territory regularly share information and network on industry reforms.Ends About IQ GroupIQ Group advises Australian enterprises on how to implement business and technology solutions to improve efficiencies and reduce operational risk. Its specialist consulting services span Operations, Technology, Risk and Microsoft Solutions Practice lines for all industry sectors. It also offers a range of innovative solutions, such as iqBoard, iqCloud and iqBI to address today’s governance, onshore cloud computing and Business Intelligence initiatives. For further information please visit http://www.iqgroup.com.au/. Cathryn van der Walt, 12 Worlds on behalf of the IQ Group, Tel: +61 (0) 402 327 633, e: cathryn@12worlds.com

2013-05-06T23:57:26Z changes-to-building-code-to-keep-kids-safe

Changes to the Australian Building Code aimed at making new apartment windows safer for children take effect from May 2013 across Australia. BCS Strata Management welcomes the change but wants to get the message out to all owners and tenants in existing apartments, that they too can easily make their windows safe in just a few minutes for just a few dollars.Group Chief Executive Officer Greg Haywood says the changes to the Australian Building Code mean that from last week all new apartment buildings constructed across the country are required to fit each opening window above the ground floor with a safety device preventing them from opening more than 12.5 centimetres.“For some time BCS has been working with property developers to ensure before building construction starts that the building plans take into consideration the living needs of the eventual inhabitants. From this week we will also remind them of the need to install locks or barriers to ensure the safety of our youngest inhabitants,” Mr Haywood said.On 13 March, the NSW Government also announced a package of reforms aimed at addressing the number of fatalities and injuries suffered as a result of children falling from windows. This is in response to a report prepared by the Westmead Children’s Hospital into this issue.“We welcomed the NSW government’s discussion paper seeking views on its proposal to mandate the installation of safety devices on all windows that prevent the risk to children in strata complexes,” Mr Haywood said.“The NSW government has indicated that it would phase in this mandatory requirement over the next five years and will form part of the current legislation as well as its successor legislation.Submissions to the NSW Government discussion paper closed recently.For existing buildings there are a number of products on the market which are easy and inexpensive to install and provide a good level of safety regardless of whether the apartment is occupied by owners or tenants.“While individuals are already able to install window locking devices themselves we would also encourage owners corporations and bodies corporate to take this issue on board and ensure every window above ground floor level is safe by installing devices where it is practical to do so.”BCS has been educating its apartment owners about the dangers of children playing near windows which are unsecured.

2013-04-23T01:19:00Z financial-synergy-across-the-line-for-superstream-1

MEDIA RELEASE – Tuesday 23 April 2013 Financial Synergy across the line for SuperStream Industry leading superannuation and investment software provider Financial Synergy today announced the imminent release of an updated version of its Acurity administration platform. The release accommodates Stronger Super legislative changes such as MySuper, SuperStream, and ATO integration for unclaimed super money and lost member reporting. This release is the outcome of an intensive period of consultation and development for Financial Synergy. The provider has worked closely with its client base of more than thirty funds across the country to finalise solution designs and help ready their clients for the Government’s upcoming changes. CEO Stephen Mackley said “Financial Synergy has a proven track record when it comes to delivering legislative changes in Acurity. But importantly, this release will give all of our Acurity users as much time as possible to test and ready themselves for what are significant changes for the industry.” Shane Collister, TelstraSuper’s General Manager of Technology Solutions, kept an eye on progress of the solution during its development. “Financial Synergy has always been great in consulting on our requirements for legislative change, and getting us the new software version in enough time to allow us to devise and test our new business processes,” he said. “They have delivered on this again for the MySuper and SuperStream requirements, continually providing updates and insight to progress during the development of this important release.” The raft of changes for Stronger Super has been significant for all sectors of the superannuation industry, but particularly so for software providers and the operational arms of funds who need to ensure back office systems and processes can deliver front line outcomes. The volume and scale of change is widely regarded as amongst the most intensive modifications the industry has faced. Recognising the impost on funds, Financial Synergy has announced it will finance development costs entirely from normal ongoing licensing revenue. Mackley noted, "While funds will be forced to invest significantly to implement these changes, many will also need to outlay large sums with their vendors for the cost of the changes to their core systems. However, Financial Synergy will be providing our solution for Acurity clients at no additional development cost.” “There is so much for funds to absorb and action around these changes across all areas of their businesses. So, despite the complexity and scale of the enhancements, we are proud not just to provide our solution on time, but to deliver the flexible functionality clients require within the platform as part of the existing support agreements we hold with each fund. “We believe this again demonstrates the strength, benefits and value for money the Acurity platform provides our clients." -Ends-- For further information contact:Bruce Hassed, General Manager, Sales and Marketing, Financial Synergy 07 3226 8179 bruce.hassed@financialsynergy.com.au About Financial Synergy: Financial Synergy is a leading provider of solutions to the superannuation and investment services industry. By utilising the expertise of in-house software specialists, fund administrators and independent trustees we deliver solutions that maximise the member experience and boost business performance. Our clients include some of Australia's leading superannuation funds and providers who use our cutting edge Acurity software to manage over 2.5 million superannuation accounts representing over 100 billion dollars in funds under administration. With offices in Melbourne, Sydney and Brisbane, Financial Synergy is proudly Australian owned and operated for more than thirty years. www.financialsynergy.com.au

2013-04-23T00:35:31Z credit-union-sa-announces-two-seniour-appointments-to-its-management-team

Credit Union SA has announced two senior additions to its management team with the appointment of Mr Philip Kwan in the role of General Manager – Brand & Member Experience and Mr Chris Ryan as Senior Manager – Credit & Member Support Services. Credit Union SA CEO, Grant Strawbridge said the pair brings a wealth of experience and knowledge to Credit Union SA and both will add a new dynamic and broader skillset to the organisation’s senior leadership team.“We are very pleased to welcome Philip and Chris to these critical senior roles, and both bring significant experience to their respective roles and an outstanding ability to deliver results as well as a clear understanding of the values and expectations of credit union members,” Mr Strawbridge said.Mr Kwan comes to the General Manager – Brand & Member Experience role with extensive leadership experience in strategy development, sales, product management, marketing and brand development within both international and domestic financial institutions including the mutual banking sector as well as the wine industry.Credit Union SA’s new Senior Manager – Credit & Member Support Services, Mr Chris Ryan, is also no stranger to the mutual banking sector; having worked more than 27 years in financial services with 23 years of those spent in senior leadership roles with experience in strategy development and execution, risk management and operations leadership.As South Australia’s third largest credit union, Credit Union SA has a total of seven branches, over $800 million in assets and more than 50,000 members.

2013-04-19T01:23:00Z deloitte-offers-xero-to-clients-for-small-business-accounting

MARKET RELEASEDeloitte offers Xero to clients for small business accounting 19 April 2013Online accounting software provider Xero Limited (XRO) is pleased to announce that in Australia professional services firm Deloitte, in response to growing client demand for cloud accounting solutions, is now offering its clients the ability to migrate to Xero’s single ledger accounting solution. Based on current client demand for cloud-based accounting solutions, Deloitte expect that by the end of its financial year approximately 2,000 ledgers will have been migrated to Xero’s platform alone. For clients wishing to move to the cloud, single ledger accounting solutions provide business owners with real-time visibility of their financial performance and position. Xero’s Australian Managing Director, Chris Ridd, says Deloitte’s decision signals Xero’s growing stature in the Australian financial marketplace. “We are excited to be working with Deloitte who are well known for their technology leadership. Deloitte has strong reach in the private and family business market, which gives us the opportunity to expand our brand in the Australian market alongside a leading global professional services organisation.” David Hill, National Managing Partner for Deloitte Private, says “the professional services sector is being digitally disrupted. Our response is to embrace this disruption to improve the efficiency of our operations and enhance the way we deliver value to our clients.” “Cloud or single ledger accounting solutions give clients the ability to access their financial data and reports from anywhere and at any time. Such solutions also provide us with the opportunity to regularly connect with our clients and offer timely insights and solutions to create and deliver value.” For more information contact:Chris RiddXero Australia Managing DirectorMobile: +61 414 987 026chris.ridd@xero.com Jane KneeboneDeloitteCorporate Affairs & CommunicationsMobile: +61 416 148 845Tel: +61 3 9671 7389jakneebone@deloitte.com.au About XeroXero provides beautiful, easy to use online accounting software for small businesses and their advisors. The company has over 150,000 paying customers and 200,000 users in more than 100 countries around the world. The company is listed on the NZX and ASX.See http://xero.com

2013-04-18T08:25:31Z data-indicates-that-high-end-residential-property-is-due-for-a-better-2013

Rockingham, WA, April 18, 2013 - Currently, real estate market statistics are moving in a pattern similar to the beginning of the housing market recovery at the end of 2008. After property had bottomed out in the Global Financial Crisis (GFC), it was the more affordable properties that showed the first movement, followed by movement in the premium property market. According to current data, home values in the capital cities have started to rise in the recent months, even as prices are still slightly lower than the same time last year. According to new information published by RP Data, home prices across all three major sectors are beginning to exhibit the same market patterns, with the affordable end, the middle 60%, and the premium end nearly intersecting as one line when the information is shown on a graph. From September 2011 to September 2012, both the affordable end and the top end areas in the capital cities and suburbs reported a decline of -1.7%, while the middle 60% reported a fall of -0.3%. In the most volatile capital city markets, those with the most severe drops are the most affordable areas around Brisbane, down -13.2% from their pre-GFC peak, and the premium areas in the Brisbane market, which are down -10.8%. Melbourne’s top end property is down -10.4%. In the capital cities, the average home value has fallen by 6.1% from the onset of the GFC to September 2012. The largest decreases in value were in Melbourne, at -8.3%, and Perth with -6.8%, while the least change was in Canberra at -3.2%, and Adelaide and Darwin, both at -3.3%.  From the post-GFC to market peak to the current trough, home values have fallen -7.4% individual cities with the largest declines have been Darwin, with -19.7%, and Hobart, with -14.6%. Those capital cities least affected were Sydney, at -5.0%, and Canberra, with -5.3%.  However, capital city housing prices are currently on the rise. They bottomed out in May 2012, but rose 2.1% by October 2012. Justin Smith, Principal of The Mortgage Gallery Rockingham, is encouraged by the statistics: “It’s been quite an interesting journey the last few years. Before the Global Financial Crisis, most investors acted as though one could count on real estate prices to rise every day with the sun. If there’s one thing the last few years have taught us, it’s that even real estate is subject to market peaks, valleys, and troughs.” Smith continued, “Many in the housing, property, and mortgage industries are surprised that prices haven’t recovered to peak level yet. In the Perth area and in Western Australia, if the past and other economic factors are any indication, prices should recover fully to peak prices. The mining boom has brought a lot of jobs and a lot of money into Western Australia and most builders are expecting a labour shortfall by the end of the year. Demand for houses is rising and it is only a matter of time before supply dwindles and prices once again rise to former levels.” Smith concluded, “It certainly appears that prices are about to rise on all levels. For anyone who is thinking about buying a new home or upgrading their current one, it might be a good time to act.” The Mortgage Gallery Rockingham are the premier mortgage brokers in the Baldivis, Kwinana, and Rockingham areas. For more information about a home loan, call 08 9527 1800 or visit their website: http://www.themortgagegalleryrockingham.com.au/

2013-04-18T07:37:06Z home-developer-warns-don-t-let-someone-else-s-problems-become-your-nightmare

Perth, WA, April 18, 2013 - A report recently released by the Association of Building Consultants revealed that many established homes on the market are not as trouble free as they have been made to appear. The report exposes practices such as retiling or regrouting over a faulty floor, filling cracks in walls and foundation to hide them and installing new floor coverings to hide any damage.While some of these practices have become so commonplace that they may appear to be just a part of doing business that should be expected when buying an established home, tricks such as these can cover up severe structural damage that can cost the buyer thousands of dollars and cause serious problems.For example, the water from a leaky shower, a faulty water heater, rainwater tanks, or air conditioning pipes, can collect in the house itself or in the ground alongside or underneath the house. Not only can this water cause structural damage on its own, but it can also attract termites, which can cause even more structural damage to an established house. When new floor tiles are installed on top of old floor tiles, it can trap moisture between the layers, exposing the house to the same dangers presented by leaky appliances.Moisture can often be detected by looking for mould at the base of the shower, cracked tiles, or plaster bubbles on the walls of rooms adjacent to the bathroom. Excess moisture will also cause paint to flake and fall off the walls. Repair work to the paths around the building can also create a place where termites can enter a house.Another problem that is often hidden is cracks caused by the sinking or rising of footings. Movement in foundational beams or footings can also cause doors to go out of square in their frames, or to open or close by themselves. This is an indication that the structure of a home has been severely compromised.If a house sustains too much structural damage, it can become unsafe, and literally have to be torn down, in order for a new structure to be built in its place. This adds thousands of dollars to the cost of a home, and can turn a potential source of income into what is commonly called a “money pit” by many in the real estate profession.According to Lauren O’Connor, Marketing Manager for the 4Land Property Group, the effects of these hidden dangers in established houses can be devastating to the buyers: “We have definitely heard some horror stories about such deceptive practices. People buy an established house in good faith, only to find out that they are out thousands of dollars to repair flaws in the house that were covered up.”O’Connor concluded, “To us, that is just one more reason that buying a new house and land package makes more sense than buying an established home. You can save up to $150,000 against the median market price, and you get a new home in a planned community with no worries.”4Land Property Group develops house and land packages in Perth and surrounding areas. They specialise in working with first home buyers and downsizers. For more information, please call 08 9301 4445, or visit their website: http://www.4land.com.au/.

2013-04-18T02:16:00Z research-proves-accountant-advice-revenue-rise

18 April 2013Research proves accountant + advice = revenue rise Business advice from accountants proves valuable yet most SMEs have tax-only relationshipFinancial ignorance apparent in almost 10% of who don’t use an accountant Wellington businesses least likely to engage an accountant New research released today reveals that small to medium business operators who use their accountant as a business advisor rather than simply for compliance purposes have a greater likelihood of financial success than their peers. The March 2013 MYOB Business Monitor discovered that SMEs who have an advisory or consultative relationship with their accountant were much more likely to see a revenue rise in the past year. They were also more optimistic about revenue in the year ahead and had significantly more work in their pipeline for the next three months. Despite survey results showing an advisory/consultative relationship is best for business, findings reveal the majority of New Zealand SMEs have a tax-only relationship with their accountant. 57% defined their relationship as being for tax return completion or GST reporting only. 28% had an advisory/consultative relationship, meeting with them regularly throughout the year for strategic business advice. The remaining 15% did not have an accountant. Over one in three (36%) of those with an advisory/consultative relationship reported a rise in revenue over the past year. Just 30% of the other SMEs reported a rise. According to MYOB’s New Zealand Executive Director, Scott Gardiner, accountants are in a good position to give valuable business advice to small and medium business owners. “Many business operators only use their accountant for tax compliance at the end of the financial year, not realising the potential breadth of their service offering. Yet the costs of a working relationship with an accountant should be considered in terms of the value brought to the business and not just the up-front payments,” he says. “Our research discovered SMEs using an accountant for financial analysis, general business advice and/or consulting on profit strategies, strategic planning and the like are 20% more likely to enjoy increased revenue than their peers. That’s a strong case to dig a little deeper and explore the possibilities of the relationship.” Tellingly, 9% of businesses without an accountant said they didn’t know if their revenue rose or fell in the past year. When comparing the major cities, Wellington-based business operators were the least likely to have an accountant. Over a quarter (26%) of respondents based there had no accountant relationship, compared to 17% in Auckland. Business owners in Christchurch were the most likely to use an accountant, with only 12% having no relationship. Revenue increase a key benefit from engaging accountantWhen looking to the year ahead, those business operators who enjoyed an advisory/consultative relationship were most likely to expect a revenue increase, at 43%. 41% of those with a tax relationship and 36% of respondents with no accountant relationship expected the same. When those without an accountant were asked if they expected their revenue to increase, 10% said they didn’t know. Only 5% of those with an advisory relationship and 4% of those with a tax relationship were unsure. “Of concern is the financial confusion that seems to result when an accountant isn’t consulted at all. They’re skilled at providing clarity around finances, including cashflow and revenue trends. By receiving this important advice business owners will be in a better position to understand where to allocate resources for the year ahead,” says Mr Gardiner. Accountant advice can relieve pressures and create investment opportunitiesBusiness operators who had no accountant relationship also reported differing pressures and investment focuses than those who employed the services of one. The pressures of competitive activity and retaining existing customers ranked higher for the former group, with 63% and 62% respectively saying these would likely affect their business in the next year. Those with an advisory relationship reported these pressures at 61% and 55% respectively whereas those with a tax relationship only were even lower still at 55% and 51%. When rating their likely investment areas for the coming year, over one quarter (26%) of those whose accountant was an advisor said they planned to increase the amount they pay employees. This percentage was much lower for those with only a tax relationship (14%) and those with no accounting relationship (15%). “Getting sound business advice from someone outside of your business can make it easier to identify the areas within your business that need particular focus. Working across a wide range of industries and clients, accountants are in a prime position to evaluate key areas that a business can build upon in order to succeed,” says Mr Gardiner. Advice on compliance most valuableNine out of 10 business operators who have an advisor/consulting relationship with their accountant find value in the service the accountant provides. 49% of this group said the service provided was ‘very valuable’ and 41% said it was ‘valuable’. Only 8% said it was neither valuable nor invaluable and 3% said it was ‘relatively invaluable’. A resounding 91% of those with an advisory relationship believed the most valuable service they receive was ‘keeping my business compliant with tax, payroll and other regulations’. This was followed by ‘advice on how best to manage the money that flows through my business’ (43%) and ‘advice on strategies that will help me grow my business’ (33%). Top 5 valuable services accountants provideKeeping my business compliant with tax, payroll and other regulations. 91%Advice on how best to manage the money that flows through my business. 43%Advice on strategies that will help me grow my business. 33%Providing me with the right advice and documentation for obtaining funds to grow the business.25%Advice on what operational business moves to make e.g. setting pricing.17% “As businesses are realising the revenue and other growth potential to be had through such simple actions as meeting with their accountant more regularly, they begin to value that relationship a lot more. It is this value that we hope more and more New Zealand business operators will begin to experience for themselves as they realise the true potential of their business,” says Mr Gardiner. -ends- For further information or to arrange an interview please contact:Gerard Blank Elaine KollerThe Agency Communications Limited MYOBTel: 03 341 5841 Tel: 09 925 3514Mob: 0275 243 629 Mob: 029 777 0256Email: gerard@theagencynz.co.nz Email: elaine.koller@myob.com About the MYOB Business MonitorThe MYOB Business Monitor is a national survey of 1,000+ New Zealand small and medium business owners and managers, from sole traders to mid-sized companies, representing the major industry sectors. It has run since 2009, commissioned to independent market research firm Colmar Brunton. This most recent survey ran late January/early February 2013. The Monitor researches business performance and attitudes in areas such as profitability, cash flow, pipeline, technology usage and the government. The weighting of respondents by both geographical location and sector is based on overall market proportions as established by Statistics New Zealand and is drawn from an independent survey group, which includes both MYOB clients and non-clients. Respondents were asked to define their relationship with their accountant in the following terms: Types of Accounting RelationshipTax RelationshipSee the accountant mainly for tax return or GST reporting purposes, typically once or twice a year. Not general business advice. Accountant does not know the ‘ins and outs’ of the business very well but knows what they need for tax purposes.Advisor/Consulting RelationshipAdditional to above (e.g. GST), also see the accountant for financial analysis or general business advice and/or consultancy on profit strategies, financial planning, general business planning and guidance, etc. An on-going relationship, accountant keeps regular contact and knows the business well.No Accountant RelationshipI don’t have a regular accountant. Either do it myself or rely on a bookkeeper. About MYOBEstablished in 1991, MYOB is one of New Zealand’s largest business management software providers. Its 50+ products and services have been employed by over one million businesses in New Zealand and Australia. MYOB serves businesses of all ages, types and sizes, delivering solutions that simplify accounting, payroll, client management, websites and much more. With a network of more than 20,000 accountants and other professional partners, it provides the support and tools that help make business life easier. Today, MYOB is extending its solutions online and delivering innovation through cloud computing, enabling clients to make smarter connections with business partners and customers. Visit myob.co.nz/smarterconnections.