January two minute update

January two minute update.jpg

We support other languages and alphabets. 
If you're involved in entities where the users preferred language isn't English, Connectworks can cope.  Discussions, minutes, resolutions, documents and even the names of people involved can be in Chinese, Russian, Arabic or a range of other languages. Please note that we only support the standard Gregorian calendar for reminders.  

january update image 1.png

Client ID checks and merging contacts.
The good news is that if you do CDD on a person in Connectworks, it automatically shows against all entities they're linked with. This reduces the effort and cost of doing CDD. However, this only works if you've created a single client profile in your firm contacts list and correctly linked the person to all entities they're involved with, as opposed to setting up the same person twice or more.

When you update a clients details, perhaps a new address, having them linked in this way also means the clients details will be automatically updated in all of their associated entity profiles. This article outlines how to link and merge contacts in Connectworks in order to achieve easier ongoing client management. Please share this information with your firm administrators if required.

We're running a short webinar on the process this month, feel free to join us by registering using the link at the bottom of this newsletter. 

New workflow - Trusts and investment decision-making 
A key purpose of trusts is to naturally hold and manage assets. Both the current 1956 Trusts Act and new Trusts Bill include provisions along the lines that, when investing, a trustee should be required to exercise the care, diligence and skill that a prudent person of business would exercise in managing the affairs of others. It is also expected that a higher standard of prudence is imposed on a professional trustee who has any special knowledge or experience in this field.

Keeping in mind the indicated content of the new Trusts Bill, our friends at Saturn Portfolio have created a best-practice workflow to guide trustees through the process of engaging with any professional to help manage a trust’s investment portfolio.

It's now available under firms/admin/precedents and it sits under Trust Workflows. See screenshot below.

january update image 2.png

If you're not a Connectworks subscriber and would like a copy, email enquire@connectworks.com with 'investment workflow' in the heading and we'll send you a copy.

For the tools, templates and resources referred to in the new workflow that detail how trustees undertake a best practice approach to investment, contact Saturn Portfolio on 0800 757 858 or email admin@saturnportfolio.co.nz with ‘Connectworks’ in the heading. 

New to filing Annual Returns in Connectworks? 
There's lots of reasons why Connectworks is the best place to manage your annual return filing. Our bulk-filing option means that you can file an entire months returns in under 60 seconds. It's quick, easy and best of all it's cheaper than filing directly with the Companies Office. Via the Companies Office website you'll pay $41.40 per return, but the fee in Connectworks is just $37.95 - saving you $3.45 per return!
(All prices include gst)

To get started with filing your February returns in Connectworks see our detailed guide here: Filing Annual Returns

Red 'overdue' flag in the Annual Return workflow (companies)
When you start using our annual return workflow from next month, you may notice some subtle changes. One important thing to note is that, if a client company you have on Connectworks has never had an annual return filed from Connectworks, a red "overdue" notification may appear beside it in the Work gallery. You can still continue to start the workflow and file the return as normal. In most cases, the return will be showing as overdue because Connectworks doesn't know when the last return was file, since it hasn't been completed from our product before. Here's a screenshot:

January update image 3.png

If you want to double check when the last return was filed you can click the three dots to the right of the screen and make sure the first screen that pops up has "unlink from the companies office" displaying. If it doesn't, simply click to link to the Companies Office. Then under the three dots click "retrieve last filing" and we'll get the last date the last annual return was filed at the companies office. This will get rid of any false overdue notices. Again, this isn't compulsory since you can run the workflow as normal without following these steps.

Marketing your firm better
The author has known Antony Young for over 30 years.  After a stellar international career running major advertising companies, he returned to New Zealand where he now brings big thinking to small and medium sized business.
So how well are you really doing at marketing your business?

We use GoToWebinars, just click on the links below to register.

Learn how to manage your AML obligations in Connectworks. 30min.
Thursday 7th Feb @ 10.00am - Register 

Intro to companies
For those that haven't seen or are very new to companies this is a high level overview on all functionality including annual return processing. 45min. 
Thursday 14th Feb @ 10.30am - Register 

Intro to trusts
For those that haven't seen or are very new to trusts this is a high level overview on all functionality. 45min. 
Wednesday 20th Feb @2.00pm - Register 

Merging Contacts
How to link and merge contacts in Connectworks in order to achieve easier ongoing client management. 30min. 
Tuesday 26th Feb 10.00am - Register 

Quote of the month
"Success is not final, failure is not fatal.
It is the courage to continue that counts."
- Winston Churchill. 


Two minute update December.jpg

From the whole team at Connectworks, we hope you have a safe, enjoyable and relaxing Christmas break.

We've had an amazing 2018 with more businesses choosing Connectworks, more features added (64 feature releases in 2018) and a rapidly growing team requiring us to move into new premises in February.

We sincerely thank all existing and new customers for their feedback, their ideas and their continued trust in us to deliver really useful solutions.

Limited support will be available until 7 January.
Please log a support ticket in the product using the '?' symbol in the top-right corner, or email support@connectworks.com.
You may also wish to look at support.connectworks.com

Meri Kirihimete, ngā mihi. 

November two minute update

November 2 minute update.jpg

Revised Terms of Service and Privacy Policy
We've updated our Terms of Service and Privacy Policy to make things clearer, and as a result of GDPR and the storage of more personal data due to our new AML/CFT functionality. These take effect from 1 December 2018, meaning users will have to accept the new policies the first time the log in after this date. The main changes are as follows: 
More transparency about the data we collect (what, why, and how)
We’ve added new sections to our Privacy Policy to more clearly explain the kinds of personal data we capture, why and how we capture it, and how it’s used. Please note that nothing’s changed with the collection of data itself, just with the text of the policy.
We want our users to know their rights
We’ve also added a section on the rights users have in relation to our collection of their personal data.
The EU General Data Protection Regulation (GDPR) came into effect in May. GDPR places requirements on the ways the personal data of EU citizens can be transferred to and processed in countries outside the EU. Because Connectworks services are available world-wide, the use of Connectworks may fall under GDPR. We’ve therefore updated our policies to reflect this.
Your current AML/CFT system may seem easy until....
...you also consider how easy it will be to complete your Annual Reports to DIA each year, plus the ease (and therefore potentially the cost) of being audited.

Connectworks makes CDD easy, with clients set-up in minutes (if they're not already in Connectworks), a workflow process that take users through the determined level of CDD, integrated ID checks that are easy and cheap to run, and/or the ability to record the results of manual checks.

Importantly, we make the oversight of your firm, your DIA reporting and audits easier too. Section 2A of the AML/CFT Regulations outlines the reporting requirements for accountants and lawyers. As comprehensive client data is being recorded in Connectworks, it will be able to be extracted using three reports to help your easily compile the information required under 2A - section 8.

Similarly, when you are audited (at least every 2 years), the auditor will be able to easily see all clients where CDD is underway or has been completed, plus find any specific client then see a summary or detail of the CDD process completed.    
Do you know Real Estate agents looking for AML/CFT software? 
Real estate agents become reporting entities on Jan 1st 2019. We're offering Connectworks as an AML/CFT-only solution for the real estate industry (turning off the entity management functionality). We're rewarding referrers with wine or beer to say 'thanks'. Plus, if the real estate agents undertake ID checks on clients the resulting Centrix SmartID certificate could be shared with your firm, saving you time and money.  
Start 2019 with a better Annual Return process.
In our thoroughly unbiased opinion Connectworks has lots of great functionality for companies! The ability to easily facilitate clients to verify their annual return details, then for your firm to update them in Connectworks and simultaneously at the Companies Office (if required), then individually or bulk e-file annual returns is one of the most popular features. As you finish your return process for this year, you may want to see how easy it would be to do them via Connectworks in 2019. Please see the webinar details below and get in touch if you would like to upgrade your annual return process in the New Year.

We use GoToWebinars, just click on the links below to register. 

Learn how to manage your AML obligations in Connectworks. 20min.
Wednesday 5th Dec @ 2pm - Register
Thursday 13th Dec @ 10am - Register

Annual Return Process
Learn how to use the annual return workflow. Easy client verifications. Manage client changes. File individual returns and bulk filing. 30min.
Wed 12th Dec @ 10.30am - Register

Companies - Overview
For those that haven't seen or are very new to companies this is a high level overview on all functionality including annual return processing.
Monday 10th Dec @ 10am - Register

Companies - Basic Training 
Covering all the basics. Importing a company, updating information, uploading documents, contact management, interest register and more. 60min.
Monday 10th Dec @ 2pm - Register

Trusts Overview
For those that haven't seen or are very new to trusts this is a high level overview on all functionality.
Wednesday 12th Dec @ 12pm - Register

Precedents & Signing 
How to use Connectworks precedents to generate documents and send them to clients for signing. Covers companies & trusts. 30min.
Wednesday 19th Dec @ 11am - Register

Shareholding Management 
Learn how to create and maintain compliant share registers using Connectworks. 30min.
Watch the recording here

Trust Set up and Administration
How to set up a trust in Connectworks and manage its associated parties. 30min.
Watch the recording here
And download our new Training Module Workbook which sits along-side the video.

Quote of the Month
"Intelligence is the ability to adapt to change." - Stephen Hawking