Hi Everyone,

As we have now launched the Mclowd Platform and Marketplace, I wanted to take this opportunity to thank all those people who have supported our mission to reduce the cost of SMSF administration, acknowledge the efforts of the Team who have worked so hard to bring Mclowd to life, and explain to Users, Contractors and Partners how the Mclowd Community will evolve moving forward.

The Platform:

In ‘Mclowd-speak’ the Platform refers to the online accounting package which is provided to SMSF Trustees.

The Platform will remain in Beta form for a number of weeks, as there are numerous features which we have scheduled for release during that time.

Over the next 6 months the Platform will evolve to include all the functionality you would expect of a best-of-breed SMSF accounting package. (You can view our product roadmap via the What’s Coming Soon page in our website.)

However, unlike other SMSF accounting packages, the Mclowd Platform will be free and will always be free to Self Managed Super Funds.

The Marketplace:

While making this sort of technology available for free will contribute to the goal of reducing SMSF administration costs, the real opportunity for improving net returns lies in the ‘crowdsourcing’ of related services.

The Mclowd Marketplace now includes professionals who are available across the following subject matter areas:

• Accounting
• Bookkeeping
• Data entry

All of these Contractors are familiar with the Platform, and are available to assist Users with setting up their Mclowd account and ongoing SMSF needs.

Migrating SMSF ‘content’ to a web-based Platform means that these related services can now be offered regardless of location, and at hourly rates that are significantly lower than those charged by accounting firms in cities such as Sydney and Melbourne.

Over the coming months we will expand the number of services available in the Marketplace (including audit, tax and financial planning) and release tools such as:

• Messaging
• Proposals
• Timesheets
• Milestones
• Payment
• Feedback
• Certification

We will be keeping all stakeholders up to date via regular emails.  You can sign up for our Newsletter here.