SuperIQ
Australian finance firm delivers information fast to trustees and finance professionals thanks to Hyland's Alfresco platform.
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The customer
SuperIQ is a market-leading self-managed superannuation fund (SMSF) technology and administration business service. Its online platform enables computer-savvy advisors and trustees to set up an SMSF in under an hour and initiate investment arrangements. Financial advisors, tax agents and accountants can ‘white label’ the SuperIQ platform to provide SMSF services and advice to customers under their own brand.
The ‘DIY’ fund management market in Australia is undergoing rapid growth as more and more consumers look to self-manage their own superannuation and reap the benefits of lower fund management costs. The SuperIQ online service includes tools that enable users to select and manage investment vehicles and access a range of deposit, life insurance and superannuation products.
A key strength of the SuperIQ platform is the intuitive information delivery that gives users a real-time overview of their superfund’s performance and makes it possible for them to use this intelligence to actively build and balance their fund portfolio.
The challenge
When SuperIQ launched 19 months ago, it set out to change the face of the Australian retail SMSF market by giving finance professionals and investors greater control over their investments via a web-based secure Member Dashboard. Alongside making the incredibly complex world of SMSF feel simple, SuperIQ wanted to deliver ‘real-time’ online control of superfunds to trustees and their financial representatives.
As an innovative Internet-based start-up SuperIQ targets a sophisticated consumer segment whose expectations for speed, automation and responsiveness are extremely high. Delivering against these expectations would mean utilising a best-in-class digital asset and document management application that would support business process automation and ensure services are deployed in a cost effective manner. All of this complying with strict industry and government reporting and record management standards.
Furthermore, with customer numbers — and the number of funds available to investors — set to increase rapidly, SuperIQ also needed a document management solution that was stable, affordable and capable of managing large and rapidly growing data volumes.
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We feel we have a long-term solution in Alfresco platform that will scale with the business and help us maintain our expense line while enjoying increased business and revenue.
— Alan Peterson, IT Manager, SuperIQ
The solution
Following an evaluation process that took into account factors such as cost, open standards and scalability, SuperIQ selected Hyland's Alfresco platform to deliver the unified document management it needed. It took just weeks to deploy the platform within a technology stack that includes VMware ESXi, Red Hat Linux and a Postgres database.
“Alfresco platform is a proven and stable solution with impressive capabilities when it comes to managing large volumes of documents,” explains Alan Peterson, IT manager. “Powerful workflow management tools combined with impressive indexing ensures reliable and fast retrieval that ensures users of our platform can manage their superannuation funds with ease.”
Today, the Alfresco platform repository contains around 150,000 documents relating to around 4,500 funds. Documents are stored as images with metadata to support fast search and retrieval. Around 2,000 registered users access documents, via an API to SuperIQ's web-based application. In the next two years, SuperIQ anticipates it will need to manage documentation relating to around 20,000 funds.
“We feel we have a long-term solution in Alfresco platform that will scale with the business and help us maintain our expense line while enjoying increased business and revenue,” concludes Peterson.
The difference
- Today, over 2,000 users can search and review electronic documents and other information via a web-based API.
- The delivery of automated digital information services effortlessly scales as SuperIQ’s customer base expands.
- Around 150 different types of documentation are managed as digital assets that are key to conducting daily business.
- Automated workflows streamline the request and delivery of information to online users.
- SuperIQ’s financial planning services platform is powered by intelligent content capture and delivery that enables optimised workflows and processes.