“With BankLink, we’ve reduced the processing time per SMSF client by around 30 percent.”

The growth in Self-Managed Super Funds is a terrific business opportunity for accounting practices – but it does present challenges. To provide an effective and profitable Super Funds service, Green Taylor Partners knew that they needed to have the right people working on the right jobs at the right time.

Green Taylor Partners began using BankLink after GST was introduced, providing immediate advantages by streamlining the accounting process for their clients. It was this efficiency gain which led the practice to put all of its Self-Managed Super Fund (SMSF) clients onto The BankLink Service in June 2007. "We saw immediate benefits, just like we did with GST," Rohan says.

The Horsham based practice has since adopted Workflow Manager, improving the management of process and capacity internally. This total system approach has provided signifi cant time savings for their clients, and for the accountants.

"It's a win-win for us and our clients; it saves them time and it saves our time and the delivery of data is also timely."

Streamlining the accounting process, and the practice's workflow, represents a major advantage for SMSF clients.

"Most dividends are direct credited, so with BankLink we receive all the information monthly. There are no inaccuracies, and the pre-coding saves a lot of time. Plus it integrates seamlessly with our BGL Simple Fund application. Now most of our SMSF returns are completed before September, rather than by May the following year."

With The BankLink Service and Workflow Manager working in complement, Green Taylor Partners have taken their practice to a whole new level.

"We used to have times of feast and times of famine," says Rohan. "Now with Workflow Manager we run at, or close to, 100 percent capacity all year.

"It's happy processing which leads to a happy team. We can count on the work being ready to go, so it’s easy to plan.”

Green Taylor Partners uses Workflow Manager to get visibility on where all of the jobs are in the office. They can now use last year's information to plan and budget for the year ahead.

"The way we've used timesheets has also changed, and they are now more of a monitoring tool for productivity."

Rohan thinks that BankLink's personal service has been a major ingredient in the success.

"We regularly meet with a BankLink trainer and always get something out of it. The old hands get a refresher, or learn about an advanced feature, while new people learn the basics in a short space of time."

Results

• Introduced a total system approach – The BankLink Service and Workflow Manager
• Reduced processing time by around 30 percent per SMSF client
• Close to 100% capacity utilisation throughout the year
• Smoother cashflow and earlier payments from clients
• Junior staff upskilled and able to take on more work
• Seniors' time is freed up for higher value activities
• Seamless integration with BGL Simple Fund application

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