Companyworks to streamline annual returns
Everybody tells us how painful this process can be, so we’re doing something about it. We’re soon to release an easy workflow-driven process that automates many of the steps involved in annual returns, making them easier and faster for both professional firms and their clients.
Professional firms will be able to activate a workflow for each company that requires an annual return to be filed in the month. This automatically retrieves the extract from the Companies Office and emails it to the client. The client can then either click a button advising the professional that there are no changes to be made, or, if there are changes, they can complete these on a web form that is then automatically sent to the professional firm so they can update the Companies Office. The workflow can also be adapted for each firm’s internal processes for sign-off and billing.
Other new features coming up
We’re working on a single iPad app for both Trustworks and Companyworks. This will improve the ease for clients to sign documents and approve resolutions, as well as being able to be used by professional firms.
We’re also adding a new security feature. We already provide world-class levels of protection from data loss and external threats. However, as a recent Intel survey highlights, 43% of software data breaches come from the users own staff. To help combat this, we’re adding anomaly alerts that detect and notify key users if their staff undertake unusual activities, such as a large-scale downloads of information.
Estates can be managed in Trustworks, too
A reminder that Trustworks is also a comprehensive way to manage estates, with all information in one place and able to be shared with authorised users. Content supplied includes 17 estate precedents, such as several variations of ‘Affidavit for Obtaining Grant of Administration on Intestacy’, which auto-merge with the estate details. Trustworks has roles for executors, trustees and a number of estate beneficiary types, and allows assets and liabilities to be recorded and tracked. Newly included are the estate claim forms for numerous banks, share registries, KiwiSaver and life insurance providers.
Companies are now even easier to set up
It’s already easy to set up a company in Companyworks. Importing the details from the Companies Office only takes a few seconds. But until now, it’s only been able to be done one company at a time.
Now, if you have lots of companies to set up, you can simply provide the New Zealand Business Number (NZBN) for each company and we’ll import them all. If you also provide other information – such as manager, partner, business unit, signing policy, who files annual returns and email addresses – these can be imported too, and overlaid with the Companies Office information.
NZBN will become the main identifier of businesses in New Zealand. If you don’t currently use NZBN’s, the Companies Office can match these to existing client company information such as company name or number for you.
Need advice on positioning your professional trustee services?
Lindsay Pope runs a consultancy called Trustee Support which does just that; ensuring your firm and clients are equipped with what they need to be effective trustees. Lindsay helps professional trustees reduce risk, unlock value in trust services and improve their contribution in the role.
Contact Lindsay: Lindsay@trusteesupport.co.nz or 029 985 6834
Like a demonstration or update?
Email “Demo Request ” to firstname.lastname@example.org or call 0800 456 580 to organise a demonstration or webinar.