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BGL plumbs AI into its accounting and SMSF software


Technology similar to that in ChatGPT allows users to generate financial analysis including commentary and trends, the firm says.

By Philip King 12 minute read

BGL has plumbed AI into its SMSF admin software Simple Fund 360 and its accounting, investment and tax software Simple Invest 360 that allows clients to generate financial analysis and provide it to SMSFs, trusts and companies.

BGL CEO Daniel Tramontana said the technology would transform how clients interacted with financial data, “enabling them to unlock unprecedented levels of analysis and insights regardless of their expertise”.

“The implementation of generative AI in Simple Fund 360 and Simple Invest 360 marks a significant milestone in our mission to provide our clients with the most comprehensive and user-friendly financial management tools,” he said.


The integration employed AI technology similar to that in ChatGPT to analyse balance sheets, operating statements and cash flow statements. BGL said the tools could provide commentary, identify trends, draw conclusions on financial strength and performance, or raise red flags over concerns.

BGL’s head of product Jeevan Tokhi said it put Simple Fund 360 and Simple Invest 360 at the forefront of technological innovation.

“A byproduct of this latest AI release means clients can now use a document to create jobs on the workflow screen directly from the documents screen,” he said.

“BGL’s advanced AI will automatically create the suggested tasks for the job, helping clients ensure their processes are complete.”

Mr Tokhi said generative AI was one of the most significant recent technological advances.

“These AI systems can generate human-like text, perform complex analyses and provide insights based on vast amounts of data. BGL's adoption of generative AI underscores its commitment to leveraging technological breakthroughs to benefit its clients while ensuring data privacy and security, with no data leaving BGL’s servers.”

BGL would showcase its software at the SMSF Association National Conference 2024 in Brisbane this week. The company supplied compliance management, SMSF and investment software to over 9,500 businesses in 20 countries.


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Philip King

Philip King


Philip King is editor of Accountants Daily and SMSF Adviser, the leading sources of news, insight, and educational content for professionals in the accounting and SMSF sectors.

Philip joined the titles in March 2022 and brings extensive experience from a variety of roles at The Australian national broadsheet daily, most recently as motoring editor. His background also takes in spells on diverse consumer and trade magazines.

You can email Philip on: This email address is being protected from spambots. You need JavaScript enabled to view it.

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