New look and navigation coming soon
The number of features available within Connectworks has grown substantially, and many more are planned. We’ve therefore identified the need to make it easier to navigate. We’re currently working on changes that will reposition some menus vertically down the left side of the screen. The image below gives a taste of how a firm view will look in future.
These changes are due to go live in a few weeks. We’re also changing what your clients will see when they access Connectworks, either through their individual home page or via a portal branded for your firm. These adaptions are designed to make tasks more apparent and to enable extra features, such as our document pack. The changes will improve the overall user experience and deliver a more professional appearance for your firm and your clients.
Integrations with Okta and Azure Active Directory are now live
As mentioned in our March update, these are the two most common SSO (Single Sign On) products in the world. As well as avoiding the issue of ‘too many passwords to remember’ they let firms easily manage staff access rights, password requirements (format, frequency of changes) and more. You can now access Connectworks via both products. If you have any issues with adding Connectworks to either product, please email email@example.com
What other SSO product do you use?
Now that we’re onboard with the two biggest Single Sign On products (as outlined above), we’d like to find out if there are other popular ones we should also connect with. If you use something other than Okta or Azure Active Directory, please send an email to firstname.lastname@example.org with the name of it in the heading. It doesn’t matter whether you’re a current Connectworks user or not.
New fields being added for AML/CFT
This month we are releasing the first phase of our AML/CFT toolbox, which will involve adding additional fields and spaces that are required to capture information for client due diligence (CDD). These are:
(1) A dedicated space within your client profiles for recording identity information and identity documentation.
(2) The ability for your clients to easily supply this information and documentation via their Connectworks login.
(3) More fields for recording non-identity related information, specifically:
- The beneficial owners of a customer
- Persons authorised to act on behalf of a customer
- Politically exposed persons
- The nature and purpose of your business relationship with the customer
- The source of funds or wealth of a customer or person
- The ability to record where a company trades under a name different from the name it is registered under
The next phase will bring this information together to simplify oversight and allow easy reporting on the status of your CDD.
Bulk registered office updates are now live
For the past few months you’ve been able to change a company’s registered office details in Connectworks and easily e-file it to the Companies Office. We know firms sometimes move offices, and this creates a headache, requiring each change of registered office to be made individually. Now, by using Connectworks, you can easily select all companies you want to change the registered office for, and make the changes both within the product and at the Companies Office in just a few seconds.
Integration with NZ Post - Postal Address File system
Every known address in New Zealand has a Postal Address File (PAF) number that refers to an identified delivery point. When we imported the entire NZ Companies Office database, we found that over 80% of companies had an address verified this way. By integrating with the PAF system we will be able to:
(1) Help firms to maintain more accurate addresses for clients.
(2) Identify where there is a discrepancy between the address recorded in Connectworks and the verified address.
(3) Easily enter accurate client addresses via the auto-complete functionality offered.
(4) Avoid any miss-matches between the address shown in Connectworks and other integrated products, due to minor discrepancies.
Name differences resolved
We’ve resolved an issue identified with how contact’s names are handled. When setting up an account, clients could previously add an unofficial name (e.g. Sue) instead of their legal name (e.g. Susan) that would get carried through the product. Firms can now control a contact’s name as it displays everywhere other than in an end-user’s Personal Workspace.
We’re raising capital
Connectworks has been selected as the best product for managing companies, trusts, or both, by nearly all the major accounting firms in New Zealand, plus a significant number of smaller accounting firms, law firms and trust management companies.
To keep growing rapidly we’re looking at expanding internationally. We’ve met a number of firms in major markets, looked at existing products and assessed the product adaptations we’d need make. We believe that once the adaptations are made, there will be significant demand for the resulting modern, comprehensive and connected product.
To fund the product adaptations, plus sales, marketing and customer-service requirements, we’re raising capital. If you, or someone you know, is a sophisticated investor who understands the SaaS business model and would like to look at the opportunity, we’d like to have a discussion. Please email Nigel@connectworks.com
Free AML seminars for accountants
Department of Internal Affairs are running a series of free AML seminars throughout July. You can find out more information and make bookings via the link below:
DIA Anti Money Laundering Roadshow
Join a free webinar demonstration
This month we're webinars covering everything from the basics to some of our most requested training topics. Email your name and the date you’d like to attend to email@example.com and we’ll respond with login details. If there's any other topics you would like us to cover just let us know.
Companies - Monday 9th July @ 10am
Trusts - Tuesday 10th July @ 2pm
20min Training Webinars:
Annual return filing: tips and tricks - Wednesday 11th July @ 12pm
Shareholder is a trust: options for handling - Thursday 12th July @ 11.30am
Using the branded client portal - Friday 13th July @ 12pm
Shareholder continuity tracking- Friday 13th July @ 2pm
Quote of the month
“Change will not come if we wait for some other person, or if we wait for some other time. We are the ones we've been waiting for. We are the change that we seek.” - Barack Obama