Data in the cloud a boon for SMSFs
The concept of data access through the 'cloud' is a popular one at the moment, even in self managed super funds (SMSFs), but according to David Mendelovits, Business Development Manager for Supercorp, if implemented properly the term can be more than just a buzz word.
"We've recently made a significant update to our SMSF software solution, superMate, and taken it online so that our clients' data can be accessed through the cloud," he said. "So, as an example, if you're a planner, an advisor or an administrator, you can sit at your desktop or your laptop, in your office, onsite at a client's premises, at home or even on holiday and you don't have to worry about servers and you don't have to worry about inconsistencies between software products.
"All the data is there in front of you and accessible in real time."
On the topic of data integrity and security, Mendelovits said that as much care had been taken as was possible and that the solution had already been tried and tested successfully during one of Australia's worst natural disasters.
"At the end of the day, data security isn't all that different to security in your own home," he said. "I can install bars on my windows, an electronic back-to-base alarm system and have Alsatian dogs running around the yard but, if someone really wants to rob me, they'll get in regardless."
"The same applies for data security. That said, superMate, is a highly secure tool and we've worked hard to make it that way," continued Mendelovits. "Our data centres, for instance, are outsourced to a Brisbane-based company called iseek who run three data centres supporting not just us but the Australian Stock Exchange.
"So during the recent Queensland floods, when much of the Brisbane CBD was shut down completely, superMate's data remained online because iseek was able to shift that data from site to site as appropriate."
Mendelovits said that, to him, the cloud approach had significant advantages over advisors' and administrators' traditional methods.
"They don't have worry about maintaining their own servers, they don't have to worry about regular backups and they don't have to worry about having access to their data when they're out and about or working remotely," he said. "This is a solution that just works."
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