A corporate name change, the soft launch of a collaboration platform for auditors, new audit templates and a UK relaunch have marked a busy three months of the year for MyWorkpapers…
The Queensland based software company, formerly known as Auditflow, rebranded as MyWorkpapers in April.
Executive director Anton Donde, who took a stake and joined the company 18 months ago, said that there are now around 500 organisations using the software locally, and about half that number in the UK. The company formerly sold into the UK though a distributor but has now established a direct operation.
Originally established in 2009, MyWorkpapers now employs 20 people locally and two in the UK.
Initially focused on providing a finance and compliance auditing platform for self-managed superannuation funds, MyWorkpapers now also offers audit templates for trust funds (a new trust fund audit template will be released in July) and public companies.
According to Donde; “We shrink down a massive compliance exercise to what is relevant to a particular auditor.”
The company is also in the process of rolling out its cloud based audit collaboration platform. Donde said that just as Atlassian’s Jira has been designed as a collaboration platform for IT developers, MyWorkpapers Connect was designed to allow auditors and finance professionals to collaborate by means other than emailed spreadsheets.
The platform – which is hosted by Rackspace with business continuity provided by Amazon Web Services – can take in financial data from a range of accounting systems such as MYOB and Xero which can then be examined in the auditing platform.
“Typically an external advisor would set up a report and then invite other individuals, the CFO or bookkeeper to join on Connect,” said Donde. The auditor would control what each user can do in the collaboration platform and the information they can access.
He said that existing clients were notified about the product a couple of months ago, as part of a soft trial, and a couple of hundred were currently using the free trial version of the collaboration platform.
