Frustrated accountants, advisers and trustees are increasingly turning to smart automation to address the biggest challenges accountants have to overcome including time spent on compliance and downward pressure on pricing admin fees, the Class SMSF Benchmark Report for June 2019 confirms.
The report also reveals that 38% of SMSF trustees find managing their SMSF far more time consuming than they expected and are looking to their accountants and advisers to help.
In fact, Class estimates that 95% of its client administrators and 34% of SMSFs on Class will directly benefit from the its unique Tax Statement Automation. Early users of the solution are reporting average savings of up to 30 minutes per fund and up to 10 minutes per tax statement.
Click here for previous editions of the Class SMSF Benchmark Report.