SuperConcepts has released an intelligent document management system (DMS) within its leading SMSF accounting platform, SuperMate.

SuperMate users will now be able to scan or email documents which are then automatically read, categorised and filed via the new document management system.

Kurt Groeneveld, Chief Technology Officer at SuperConcepts said, ”The advanced capability of our new document management system is not only a first in the SMSF industry, but also within the broader financial services and accounting software markets.

“The system leverages the latest capability from leading technology companies across the world"

“The system leverages the latest capability from leading technology companies across the world, providing cutting edge augmented intelligence and machine learning to drive significant efficiencies for our accountants and advisers.”

Using machine learning algorithms the DMS recognises and correctly allocates documents just as skilled human operators would have done in the past. 

SuperMate users are already benefiting from the automated classification of documents. This capability will improve over time as the system learns from each new document filed.

Mr Groeneveld said, “The document management system builds on SuperMate’s existing capabilities like automated bank reconciliation. It does this through intelligent workflow technology which can deduce the correct approach to processing different situations within a typical SMSF administration operation. 

“SuperMate’s new document management system can make a fund ‘audit ready’ with virtually no human input required.”

The new system will help auditors with the annual audit of funds as documents are completely text searchable. SuperMate’s Audit API also highlights transactions that don’t have the required supporting documents.

The launch of the intelligent document management system is part of SuperConcepts’ ongoing commitment to provide a leading SMSF technology solution and high-quality service to accountants and advisers, helping to improve their business.

SuperMate is a cloud-based, double entry system which provides access to more than 222 data feeds. The platform continues to be one of the market-leading solutions with access available from $5 per fund per month.

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