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Our Answers to

Frequently asked Questions



*Click on the Q&A categories below and the respective questions within categories to retrieve our answers.

  Q & A's regarding Reward Super Pty Ltd

Q: Why do you call yourselves RewardSuper?

A: The name of our company reflects the general idea that our work should be rewarding for our clients, our partners and ourselves. In keeping with this thinking, we develop products that make this a reality; products that reward our clients through cost and time savings as well as superior product experiences, our partners and ourselves with a good income.

Q: What does the circle of hands in your logo reflect?

A: It reflects the new paradigm for business in a ‘Web 2.0’ world, where collaboration is key to the delivery of relevant service propositions to clients. We are an open and collaborative company who are happy to share ideas and thoughts through various online and other networks. Our ethos of ‘living on the web’ assists us as we can then answer questions quickly and reliably wherever we and our clients are.

Q: Is RewardSuper an independent organisation?

A: We are a self funded independent company. We do not and don't intend to provide accounting, administration, auditing or outsourcing services. We are strictly independent of any organisation or group of companies providing such services. All we do is to provide our cost and time saving solutions to participating customer firms.

Q: What products do you offer?

A: We develop and market one product: RSDataWeb is a Web-based data automation & integration platform used by larger Accounting and Financial Advice firms to prepare transaction data in their client administration process. The product is available now. We've recently integrated a product, which we called RSDocWeb, as a document management module into RSDataWeb.

Q: Do you have more products in the pipeline?

A: We have an exciting product development plan and proven development resources that are capable of pulling it through. We concentrate on extending the RSDataWeb automation functionality and adding fabulous partner applications, using Web Services integration. Our clients are a valuable source of new ideas, which currently evolve around adding even more automated interfaces with institutions and investment data providers.

Q: What ever happened to the release of RSDocWeb?

A: With the success of RSDataWeb in the marketplace we realised that we should focus on RSDataWeb and embed the online document management facilities, which we'd developed for RSDocWeb, in RSDataWeb. There are heaps of standalone online document management solutions available, which would have confronted us with unnecessary marketing costs and efforts. We prefer to put these resources into our leading RSDataWeb platform. Furthermore, our strategic partnership with Management Solutions allowed us to integrate their powerful FastTrack online messaging and document dispensing and tracking technology into RSDataWeb. RSFastTrack provides our clients with secure online messaging, delivery and tracking of documents of any size and format.

Q: How big is RewardSuper?

A: RewardSuper at this stage (Jan 2011) still is a fairly small company. We prefer to operate all matters with small dedicated teams, which keeps responsibilities focused and operating costs low. Instead of hiring additional people to do manual tasks, we prefer to automate most of our daily tasks. What we don't automate, though, are our online and face-to-face support and training contacts with our customers.


  Q & A's regarding RSDataWeb > General

Q: What Client structures does RSDataWeb support?

A: We support all your Client structures, which involve medium to large numbers of transactions, including:

  • Self-managed-super funds (SMSFs)
  • Small APRA funds (SAFs)
  • Discretionary Family Trusts
  • Companies
  • Day-trading individual clients
  • Q: Will your development of RSDataWeb ever be finalised?

    A: This is a very interesting question, as it allows us to expand on our product development philosophy and practice: We use the so-called Agile development method. It can be described as realising new features in very short time intervals and not working off huge requirements documents, which would take months to write and agree on. With agile we quickly pick up ideas, align them with our platform structure, and realise them in exceptional short timeframes. As we deploy RSDataWeb as a Software-as-a-Service solution working off one common instance, all our clients instaneaneously use the newest tested functionality and don't have to wait for new versions to come through. It helps our developers to work on one version all the time and not having to maintain several versions.

    Q: We are interested in RSDataWeb. What are the next steps?

    A: Call or email us here and we will organise an initial online or face-face meeting which will consist of a brief presentation and a live demonstration of the system. We will be happy to discuss your specific situation and answer any questions you might have. As a preparation for us we'll ask you to complete a short online questionnaire before the meeting.

    Q: What happens if we still have questions after our initial meeting?

    A: Following from your initial interest we would then be happy to answer your questions in-depth via email or arrange a second meeting where we would be happy to present a more detailed demonstration of the system.

    Q: We have decided to use RSDataWeb. What happens now?

    A1: We will ask you to sign our solution agreement, which we'll send by email to you.
    A2: We will train your appointed ‘Office Champion’ and other users of the system. This will take the form of e-learning and face-to-face training.
    A3: Once your staff have had initial training, we will assist in the establishment of the first few client data. We believe in a ‘hands-on’ approach to training and will help your staff actually run through the steps required in their day-to-day usage of the system. We will only provide a secure login and password once we are all satisfied that your staff have the ability and confidence to operate the system to its full potential.

    Q: Our business is fairly large, can we still use RSDataWeb?

    A: Absolutely. This is what makes RSDataWeb so versatile; that it is completely scalable and can be used by Accounting and Financial advice firms or SMSF administrators of all sizes. Please let us talk about your specific requirements and we'll find an adequate and affordable solution for you.

    Q: What are the technical requirements for using RSDataWeb?

    A: There are no software downloads, installations or updates required for you and your staff as we maintain RSDataWeb centrally and make it securely available to its users over the Internet.
    All that is required for operating RSDataWeb are:

    1. A standard Web browser such as Internet Explorer / Firefox / Chrome / Safari / Opera, with Javascript enabled. For best performance we recommend the respective latest browser versions (which are freely available on the Internet).
    2. A fast Broadband connection (e.g. ADSL2) to the Internet.
    Please feel free to contact us in case of any technical question.

    Q: Is RSDataWeb suited to be operated on mobile devices?

    A: Technically RSDataWeb supports those mobile devices, which have access to the Internet via a built in Web browser. This includes:

    1. Mobile phones such as iPhone4, Google Android phones (eg HTC Desire), Nokia N8, Windows Phone 7.
    2. Tablet computers such as the iPad and Google Android tablet PCs.
    Please feel free to contact us in case of any technical question.

    Q: What are the administrative requirements of signing up to RSDataWeb?

    A: The requirements are simple:

    1. Our brief, easy to understand agreement to be executed.
    2. Staff training and demonstration, followed by the issue of a secure login.

    Q: What is the cost of using RSDataWeb?

    A: We believe in pricing models that are in line with our clients' own pricing methods, to allow for simplicity, consistency and transparency. We also recognise that businesses vary in size, and as such we offer discounts for entities who administer a large number of clients.
    From January 2011 our annual standard subscription price for using RSDataWeb is $240 per client/fund (ex GST). All functionality and data-feeds are included. Integrated partner solutions are invoiced separately. We will bill monthly the then active clients / funds on the system. The monthly billing rate is always based on the total per client/fund charge for the current financial year. There are discounts available for quartely / annual prepayments as well as volume (i.e. number of clients/funds processed with the system).
    We are happy to discuss your best price points with you, once you have a thorough understanding of RSDataWeb's benefits for your organisation.

    Q: What is the cost for historic transactional client data?

    A: Regarding historic transactional data we differentiate between data concerning the current financial year and data concerning past financial years.
    Transactional data concerning the current financial year are included in the annual subscription cost.
    Data for previous financial years need to be discussed. Once we know what the issues are, we can quickly determine a very reasonable price point.

    Q: Are there any other fees?

      A:
    1. Each registration comes with access for two (2) concurrent users for every 20 funds. Concurrent users means staff who can access the system simultaneously.
    2. You can assign as many users as you want, though. If you want additional concurrent users, these are charged a per user per annum rate to cover our IT infrastructure and licensing costs.
    3. Since December 2010 we waive initial setup fees for new entities due to our massive advances in automating the initial setup:
      • Reserving space/directories on our central servers
      • Activation of users (2 per 20 funds) with username and password
      • Establishment of basic workflow with tasks
      • Setup of professionals on system for entity (Accountants, Brokers, Advisers, Auditors)
      • Establishment of client/fund names and numbers (only). This starts our monitoring and the entity's workflow tracking process
      • Basic user (and system) training, so that the new users learn how to maintain data and the system for their entity
    4. Consulting concerning process management and organization for your business can be arranged separately .

    Q: How do you keep our data secure from other users?

    A: Each of our customers have their own section on our database reserved for their clients. Only their own authorised staff can look at and edit the customer's clients/funds. There is no way that someone else than your own staff can look at or even edit your accounts. The same security and privacy measures apply to RewardSuper staff. Only in exceptional circumstances have authorised technical specialists access to client information, and only to rectify technical problems. Any such intervention will be documented and discussed with you.

    Q: Where is the data stored, what security is there and what is the redundancy process for failure?

    A: The data is stored in our managed server(s) in the cloud. The server(s) are secured via hardware and software firewalls and are backed up in short time intervals. Also daily snapshots of data are stored outside our infrastructure provider Bulletproof’s premises, to make sure that any potential security events like those recently widely published ones do not affect RSDataWeb and its users. With Bulletproof we have one of the most secure Cloud infrastructure providers in the country. No data or programs are stored outside Australia’s borders. Please contact us if you need a more detailed technical description including adherence to security standards as well as a disaster recovery procedures.

    Q: How do you keep RSDataWeb secure?

    A: In technical terms, we use 256 bit SSL encryption as well as Cache (i.e. our object oriented database technology) secure token technology. The secure RSDataWeb website uses encryption keys: Each user session has a unique session key for the encrypted user session. The session key is never sent to an HTTP client and is not accessible from outside the session. By default, a user session is timed out after 20 minutes. As a user you see the remaining time at the bottom of each RSDataWeb screen.

    Q: What accounting packages do you interface with?

    A: Currently RSDataWeb exchanges data with:

    • BGL Simple Fund
    • Desktop Super (APS)
    • Supercorp software products
    • Handisoft Handiledger
    • Acurity Online (Financial Synergy)
    Further accounting software packages are in preparation. We've developed unique interface technology to streamline this process, so that new interfaces come online quickly.

    Q: What role does change management play for the deployment of RSDataWeb?

    A: Change management practices play an important role for any major project that affects the work of people. The deployment of RSDataWeb is no exception to this. Work practices need to change with the introduction of new technology and automation and the position of people within their organisations may be subject to change. Fortunately the elements of change management are well researched and the successful adoption of new technologies such as RSDataWeb in the workplace is not hard if proper management and training techniques are being used. The main goal of these techniques is to drive out fear and to convincingly explain and document future work practices and organisational roles. We have a lot of experience with massive organisational change through technology and are happy to help with practical advice regarding the successful adoption of RSDataWeb in the workplace.

    Q: Does RSDataWeb require that we significantly alter our existing business workflows?

    A: With every new IT system there will always be some adjustment to your business processes and procedures. Yet, RSDataWeb has been designed for Accounting and Advice firms that have minimising manual work on their minds already. Additionally, with our embedded workflow capabilities you can streamline your work processes in a way that suits your own business model. We are also open to discuss and accomodate the system to suit your specific requirements.

    Q: What does "Web Services" mean for us as users of RSDataWeb?

    A: Web Services allows computers to communicate with each other without human interference, i.e. triggered by an event - one host requests data from another host. If the credentials of the requesting host is OK, it will receive the data. This process reduces cost of human handling and improves data quality. It is the way how state-of-the-art web applications communicate amongst each other and allow for the automatic exchange of data and messages in a very secure way. RewardSuper is fully committed to implementing web services for fully automatic Host-to-Host communication with external systems. It allows our clients and their users to operate their businesses in an automated way what the flow of data and messages is concerned. As an example please take a look at the demo video of the web services integration between RSDataWeb and Topdocs on our RSDataWeb Details page in the Intro Videos section.


      Q & A's regarding RSDataWeb > Transaction data management

    Q: What data feeds can you collect electronically?

    A: RSDataWeb is a data preparation tool. Whether your business is in ‘manual’ input mode only or if you are already receiving data feeds electronically (e.g. from Banklink or Macquarie Bank) or if you are looking at receiving electronic data feeds in the future, we can assist you.
    If electronic data capture is right for your business then we have data feed interfaces available for:
    Managed Funds, Shares, Bank accounts and CMTs as well as Investor Directed Portfolio Services (Wrap Accounts and Master Trusts). All you need are your clients' authorisations and agreements with the data vendors. We have all the forms and procedures available for you online to process quickly.
    Note that we don't operate as a so called "data aggregator" and disclose all wholesale prices for data feeds by the various vendors to our clients. Should you already subscribe to 3rd party data feeds (such as Banklink or Macquarie CMT), we are happy to accommodate. Rest assured that as a minimum we can read all data feed formats that accounting packages can read.

    Q: At the moment, staff enter data directly into our accounting software, wouldn't this just be the same?

    A: In a word – “NO!”. With existing Accounting systems, your staff first need to receive all of the requisite paperwork each year (do the “shoebox shuffle”) which doesn’t end when they receive the documents initially. Hours are spent chasing missing documents and transaction information each year at accounting time. Yes it’s true that initially the data will be entered into the system, but all good things need to start somewhere.
    The true benefit is that once this has been done, and once your clients' datafeed authorities have been received, the transactions that are currently being entered manually are then transferred electronically, which dramatically reduces the time required to service the client account each year/quarter/month. In fact, this will allow you to update the accounts more frequently.

    Q: How does RSDataWeb help us speed up data preparation time?

    A: RSDataWeb features unique tools to query transactions by amount, data and narration, regardless from where they originate (paper or electronic feeds). Staff can easily find out about similar transactions and assign the correct account codes with a minimum effort. With the availability of electronic data feeds from institutions and/or third parties (e.g. Banklink for bank transactions) RSDataWeb can automatically assign account codes to transactions when certain rules are met.

    Q: How do you support the improvement of Data Quality?

    A: Data quality is at the core of an accountant's success as a business. Data quality can't be audited in, rather it has to be built into every transaction. Everything else leads to additional cost and time requirements. We support attaining high data quality ratings through proven software features and procedures, which we share with our clients. RewardSuper will soon attain ISO 8000 Data quality certification.

    Q: How does RSDataWeb import transactions from scanned documents?

    A: The first step for many firms to a paperless office was/is to scan the paper documents with an office scanner. Some firms and/or their outsourcing partners we came across decide to key the data manually in from the scans, which typically is the source of many data quality problems.
    We have a better solution:
    RSDataWeb is capable to automatically process scanned source documents (300 dpi required) and transfer them into electronic transactions with the follow-up steps of automatically matching transactions.
    Typically, scanned source documents are only required for historic transaction data, whereas current data are processed electronically based on client authorisations directly from the source.

    Q: How about audit reliance on the transactions RSDataWeb collects and passes on?

    A: RSDataWeb offers full audit trails online. If you provide auditors online access to client transaction registers, they can perform their operational audit tasks much easier and more effective than with traditional work papers. Transaction IDs are carried forward into the accounting software from where they can be traced back into RSDataWeb over all levels of details to the underlying source documents attached to their electronic transactions.
    There is a wide range of transaction reports available online with very flexible selectable filter settings.
    Experienced long time users of RSDataWeb with audit skills will be available to discuss any question with you concerning audit reliability.

    Q: What can be done in relation to property transactions, non listed shares and other non standard assets a client may have?

    A: RSDataWeb supports all these transaction types. At least they can be keyed in manually or imported via Excel / CSV /PDF / scanned files.
    If there are standard layouts of reports etc available, we quickly build data source templates and import electronically. For property we already have a number of templates available for automatically capturing rental statements by various real estate agents.

    Q: Is there a facility for our clients to be able to see their asset position online (particularly shares)?

    A: RSDataWeb fully integrates with Sharesight, the leading online share portfolio management system. Accountants grant clients access to their portfolios (graphical and listings) from inside RSDataWeb.
    RSDataWeb also has asset class and asset type reports available online, which the accountant / adviser can easily make available to their respective clients.

    Q: How can your transaction matching feature help us to reduce or eliminate data preparation time?

    A: This advanced RSDataWeb feature can automatically match (i.e. reconcile) investment and cash transactions by using dates and amounts as matching criteria. As a result of this automatic reconciliation process just one record is passed to the respective accounting system. This record is typically an investment transaction with the bank account in the contra account field. The reference to the original transactions in RSDataWeb is the transaction ID. This feature allows that no or almost no transactions land in the dreaded suspense accounts within the respective accountng system, from where they would have to be reconstructed in lengthy manual processes. RSDataWeb exports fully coded transactions to the accounting system the accountant is using.

    Q: Does the systen import a 30th June valuation update for listed investments?

    A: The accounting systems, which we export fully coded transactions to, have year end price feeds available. Our interface with the leading Sharesight portfolio management system additionally makes daily share price feeds available, which for example are used to automatically generate non-realised Capital Gains Tax reports.

    Q: Can we easily get our data out of RSDataWeb and how much will it cost us?

    A: Yes, you can export all your data residing on the system in CSV, XML and PDF formats. There is no cost additional to your subscription costs involved. The time required for effecting the download of the data is minimal.

    Q: Why and how do you integrate with Xero?

    A: While we can source banking data from Banklink and directly from selected institutions, RSDataWeb can also automatically collect banking data feeds through the Xero online accounting system. The setup is straightforward and our daily automatic process does not require any manual down- or uploads of banking data.
    Please visit our Xero integration page for details.


      Q & A's regarding RSDataWeb > Workflow and Document management

    Q: How can your Workflow management application help our firm?

    A: The RSDataWeb Workflow management module can assist your firm with automatically tracking administrative tasks within your practice. Tasks are client or practice centred. Each task breaks into underlying workitems, which you can assign to members of your staff. Tasks and workitems can be tracked over time, and overdue items are alerted by email / SMS. Most importantly, client tasks can be budgeted and be compared with Work-in-progress, continuously showing variances online between budgets and performed work.
    Ir needed, the system can be easily integrated with your client billing and work-time-recording systems.

    Q: If our documents are being stored on the web, are they secure?

    A: Yes, at RewardSuper, we take security very seriously and this is particularly true for your important data and documents. RSDataWeb uses 256 bit data encryption SSL. In addition, files are stored on secure dedicated servers within Australia. We do not send sensitive documents overseas or outsource data storage of sensitive information outside of Australia. All users will be given secure logins and access levels can be varied and are managed locally by our team. The management of the databases will be convincingly transparent to you once you join the service.

    Q: What file types can we store with RSDataWeb's document management application?

    A: RSDataWeb supports a wide range of file types, including excel, word, powerpoint, JPEG, EPS, GIF, PDF, etc. This is an advantage as it allows your staff to access documents using their secure web login wherever they are, say for example during a field audit or at a client's office. Staff are not confined to their desktop systems or their LAN’s and WAN’s.

    Q: Does or will RSDataWeb support the XBRL / SBR standard for document storage and submission?

    A: RSDataWeb uses the powerful and highly scalable object database management system Caché by InterSystems corporation. One of its many advanced features is the strong support of XML and its various dialects, such as XBRL, which the Australian government and many other governments around the world has selected to be the language of choice for delivering financial documents. RewardSuper has an ongoing project with industry partners to import, store and deliver XBRL compliant documents, conforming with publicly available taxonomies. For details about XBRL in Australia see here.

    Q: Because our firm conducts a lot of audits we would like a way of downloading the stored PDF documents into an audit file on our office server but do not want to do it one document at a time. Is it possible to download all PDF documents in one go?

    A: Yes, not a problem at all. This is standard procedure. .



    We've compiled this FAQ page based on questions received from our prospects and clients. Should you have questions, which are not listed here or find answers, which do not satisfy your information needs, please let us know and shoot us your message here.
    We are looking forward to hearing from you and will respond quickly.


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