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Mid-tier accounting firm BDO has partnered with a software firm that will generate statements of advice for BDO’s superannuation team in real time.
Nod will leverage its technology to assist with BDO’s superannuation team in developing statement of advice documents to improve efficiency.
Analytics on the documents produced will then be used to ensure adherence to BDO’s standards and external regulatory guidelines.
Partner for superannuation at BDO in Sydney Mark Wilkinson said the partnership demonstrated how the group was using the latest technology to provide value-adding service to clients.
“We look forward to having the ability to free up our staff, through the use of this new technology, so they can focus on providing more in-depth advice to clients based on the analytics captured by the automation process,” he said.
Process efficiency is one major benefit to the platform, but BDO can also expect to experience enhanced document quality and reporting on compliance with regulations and standards.
Nod chief executive Joel Robbie said the technology was able to give back control, something that was important in the current regulatory environment.
“With Nod’s data-driven document generation, the BDO team will be able to quickly create statements of advice — but more importantly, they will have far more comfort around the quality of those regulatory documents and gain a significant amount of control over the content, which is a feature absent from standard word processing software,” he said.
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