Online Self Managed Superannuation Fund Management Software Development

Client Overview
A newly established online financial services provider in Australia approached USE for a completely automated and robust IT solution in order to provide her customers with convenient and high quality services for managing their Self Managed Superannuation Fund.

Project Overview
This client is the first company in Australia to provide online services to simplify the process of managing a "Self Managed Superannuation Fund" abbreviated as SMSF. SMSF is a self managed pension fund managed, however in order to manage it, a certain level of skill and resources are required. In the current Australian market, there exist no adequate tools to help people manage their own SMSF. In most cases, you just have to contact an accountant at the end of financial year to sort out your SMSF in order to maximize the benefit. As the result of this, two possible problems arise; firstly, the users have no real-time knowledge of the performance of their fund; secondly, it's quite a time consuming process for an accountant to go through a year's data of a fund. This makes the potential cost of these resources quite high.

Our client being the very first company to identify this problem saw this as potential business opportunity by simplifying the management process of SMSF. The key is to automate day to day administration tasks for users.

Why USE
Prior to approaching USE, this client had already spent months with another IT outsourcing company in China to work on a pilot project. However, upon realizing the complexity of the system and very tight timelines, both the client and her outsourcing provider at that time decided not to proceed further. At this stage USE came into the picture. USE was introduced to this Australian client via a business associate. Within a very short period, USE constructed a team of 7 professionals having a wide range of expertise and managed not only the complexity but also delivered quality system in time. Demonstrating the professionalism and efficiency, wide range of high level expertise and state of art technology, we have built a very strong relationship and trust with this client.

Solution from USE
The whole system from initial user requirement gathering to design, coding, testing, deployment and documentation was well done by USE professionals. Based on Microsoft .NET technology USE developed a smart e-solution which largely simplified the process of managing a SMSF by automating most of administration tasks for the user thus minimizing the skills and resources required, such as allowing user to setup straight processing rules (STP) to process day to day transactions on the fly; automatic transaction checking and error correction to avoid mistakes; smart notification service to keep users informed of their SMSF in real-time; automatic year end accounting to help the user maximize their income with minimum efforts; professional and intelligent portfolio reporting to assist users tracking investment decision and a flexible configuration to allow both professional users and the general public to run SMSF in their own way.

Environment
OS:                               Windows based operating system
Development Tools:         Visual Studio 2005
Development Language:   C#, ASP.NET 2.0, T-SQL
Database:                       SQL Server 2005
Application Server:           IIS 6