Welcome to the Mclowd Community Newsletter
The future is already here. It’s just not evenly distributed.
At this time of year I always make a point of dropping into the Amazon Web Services (AWS) Summit.
This event is the closest thing that you could find to a time machine – a window into our collective future that is at once inspiring and confronting.
My key take-away this year was the role that artificial intelligence (AI) is beginning to have on our lives, and specifically the rebalancing of work as between humans and machines.
Speaker after speaker described a paradigm shift that will dwarf anything associated with the First and Second Industrial Revolutions.
However there was a sub-text that was missing, both at the AWS event and also in the manner in which incumbents have begun to deploy this technology.
As the process of automation accelerates, the gap between replacement and historical cost widens. The inevitable consequence is deflation.
Mclowd is at the forefront of this revolution and every update we share is a step towards this future.
Accounting Software Update
The first release of our TBAR tool is now in production.
Subsequent iterations, along with all of the other improvements slated for coming weeks will be included in the Pro version. While the functionality constantly improves, the annual licence fee remains at $30 per fund, which is a fraction of that charged by incumbent vendors.
(TBAR will also be available to trustees when the upgrade path for these users has been enabled).
While our current WIP focus is on the accounting Platform, the services Marketplace continues to gain strength, both in users and transaction volume.
Speaking of his engagement with both environments, trustee Bill Looby had this to say:
“The combination of free SMSF accounting software and a services marketplace is a win-win for everyone involved. Couple this with the powerful Mclowd help documentation and help desk support and you know you are on a winner.
“Historically I used spreadsheets to stumble my way through the rigours of completing the annual accounting. Something I dreaded. I am no longer daunted by the task and unreservedly recommend this solution to any SMSF trustee.
“I have also been able to purchase audits off-the-shelf and receive a rapid response from a qualified practitioner in a transparent and competitive Marketplace.
“Minimising costs is a key factor in maximising SMSF returns. I place a savings value of around $1,000 per year by completing my own accounts. This saving gets to stay in my fund, and furthermore grows in value over time.
“The Mclowd Community is revolutionising SMSF and I cannot imagine managing my fund any other way.”
More functionality at the same ultra-low cost. Access, transparency and greater value through the Mclowd Marketplace. And still we feel like we’re on the start line.
Within the next twelve months I expect open-source AI models to merge with open data regimes.
The result will be rapid deployment of workflow automation across the Community at a fraction of historical cost.
As Jeff Bezos would say: from this point forward every day is Day 1.
Mclowd Pty Ltd