Mclowd Practitioner Update December 2018

Introduction

2018 has been a turning point in the evolution of the Mclowd Community, because it has marked the beginning of the commercialisation process. As active users will be aware, we are now in the midst of a virtuous circle, where growth in revenues drives accelerated improvements to the technology, leading to further growth in users / revenue.

Obviously Practitioners have a key role to play in this process (and given the per-unit costs savings, will be key beneficiaries).

Reports Pack

Version 2.0 of the Reports Pack is now live.

This release allows Practitioners to:

  • Save a Reports Pack as a template, and generate it against multiple Funds at the click of a button
  • Amend the order in which individual Reports appear

This is a good example of how progress during the year (in terms of functionality) has opened up the opportunity to direct more attention to usability – particularly for high-volume users.

Subsequent upgrades in 2019 will include improved support for audit workflow.

Property

Based on your feedback we have now scheduled further improvements to the handling of property.

This includes additional GL accounts as well as an upgrade to the Property Expense Report.

Open Banking

We have been keeping a close eye on the development of the API standards for Open Banking, as well as the certification requirements that the Community will need to meet (as a Data Recipient).

We want to make sure that there is no delay in terms of enabling the free flow of this data, which will benefit all stakeholders.

Conclusion

As the year draws to a close our attention inevitably turns to the goals for the Community in 2019.

While smaller practices have been the backbone of the Practitioner segment of the Community to date, the engagement of larger firms in the New Year will both:

  • Raise the bar in terms of the underlying technology
  • Drive the revenue which will fund this ongoing investment

As always, please keep the feedback coming.

Regards

Ashley Porter

Managing Director
Mclowd Pty Ltd

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