FAQs on NowInfinity's acquisition of MYOB – NowInfinity

Through innovation, the NowInfinity platform features tools for rapid company formation with ASIC, compliance tools and legal document templates for entity establishment and management.

Ongoing entity management is made simple by our entity management suite which includes Corporate Messenger for all corporate compliance, the Trust Register for the management of all trust related entities and Super Comply, to manage all of your client's superannuation entities.

NowInfinity also provides a simple and easy-to-use document generation platform with over 70+ legal document templates including discretionary trusts, corporate establishments, and SMSF establishments.

We have enhanced our platform by collaborating with some of the best in the industry including GreatSoft, XPM, Class Super, Macquarie Bank, DocuSign and cloud storage services. Each collaboration is another part of the entity establishment and management puzzle to make our customers lives simpler.

Why did NowInfinity acquire MYOB's Corporate Compliance and Corporate Admin products?

Over the past three years, Class has made several acquisitions in the corporate compliance and document management space, purchasing NowInfinity, Smartcorp, Reckon Docs and Topdocs. This acquisition will accelerate the role NowInfinity will play in the corporate compliance space.

What are the benefits to me as a MYOB client?

There is a very strong fit between MYOB and NowInfinity’s product offering. MYOB customers will now have access to a more extensive corporate compliance product in Corporate Messenger, legal document templates, unlimited users, electronic signatures and SMS reminders included.

Specifically, you will have access to NowInfinity’s broader services platform, which includes:

Corporate Messenger to manage your companies;
70+ legal documents in the Documentation Suite;
Super Comply to manage your SMSFs;
Trust Register to manage your trusts;
Extensive integrations with business partners, such as Greatsoft; and
Electronic signatures and text message reminders are included in all pricing.

In addition, NowInfinity is part of an ASX listed company (HUB24) that invests heavily in technology, innovation and its people.

Will my customer information and relevant data be transferred to NowInfinity?

Yes. As part of the agreement, MYOB has provided NowInfinity with information regarding your MYOB Corporate Compliance/Corporate Admin solution which is being transferred to NowInfinity. This information will be held and used by NowInfinity in accordance with the NowInfinity Privacy Policy.

Will my MYOB log in details change?

Your log in details will remain the same and Corporate Compliance and Corporate Admin will continue to work as normal while NowInfinity and MYOB assist customers in preparing for this change and transitioning their companies.

You will receive some more information over the coming weeks to ensure that you make the most of the opportunity this acquisition creates for you and your business.

What will happen to the MYOB platform?

Corporate Compliance and Corporate Admin will continue to work as normal while NowInfinity and MYOB assist customers in preparing for this change and transition of their companies.

Customers of the Corporate Compliance and Corporate Admin products must have moved to another provider by the 29 February 2024.

However, on 1 March 2024, MYOB will be deactivating their connection with ASIC which means customers will no longer be able to lodge or download data from ASIC.

What NowInfinity product do I look for to replace my current solution and manage my ASIC compliance?

NowInfinity's Corporate Messenger product is a leading corporate compliance solution, designed to address ASIC compliance needs, boasting an array of features such as:

ASIC compliance management: Easily manage and scale ASIC compliance needs.
Annual statement automation: Sync with ASIC for instant access to annual statements.
Debt reporting: Clear insights into client company debts, ensuring timely repayments.
User-friendly ASIC Forms: Relevant forms in easy templates with prefilled information for faster administration.
Bulk company updates: Efficiently implement bulk changes, such as address updates, saving time and resources.
Historical timeline views: Personalised company timelines for a comprehensive history at a glance.
Automated client communication: Use email and text for reminders and document updates, improving response times.
Avoid late fees: Actively monitor client debts to minimise late fees.
Efficiency with ASIC: Always be a step ahead, preventing unwanted complications.
Lodgement status management: Effectively monitor the status of all company lodgements.
Save resources: Cut down on repetitive data entries and reduce human error.
Customised client communications: Boost client relationships with personalised and branded communications.
Streamlined workflows: Optimise workflows for time savings and efficient scaling.

What are the key benefits and features of NowInfinity?

Corporate Messenger

Effortlessly oversee Annual Statements, ASIC forms, and statutory registers.
Conveniently capture company minutes, including solvency minutes, using DocuSign.
Set up automatic email and SMS notifications, keeping your clients informed and engaged.
With regular syncing to ASIC and optimised workflows, ensure timely submissions, helping clients avoid potential penalties.
Benefit from a timeline for every company, showing a detailed perspective on the company's journey and milestones.

Documentation Suite

Access over 70 legally reviewed documents either a PAYG or subscription model.
A comprehensive service catering to all documentation requirements, complemented by an additional optional legal review feature.
Customise documents with your brand or opt for our established branding, depending on your preference.
Harness functionalities like electronic signing and text message reminders to complete documents and engage with clients instantaneously.

Super Comply

Centralise all your SMSF data for swift and efficient generation of SMSF-associated documentation.
Directly incorporate a comprehensive SMSF register, compatible with platforms like Class Super.
Populate SMSF records effortlessly from the fund register via Super Comply.
Stay tuned for our deed update feature, ensuring your deeds remain current and compliant and our investment strategy module to simplify documentation, and meet regulations, ATO standards, and auditor expectations.

Trust Register

Consistently maintain your client's trust structures using uniform documents.
Enjoy hassle-free access to each trust's maintenance documents.
Consolidate all your trust-related data and documents within one comprehensive platform.
Craft a distinct timeline for each trust, showcasing a summary of all historical modifications. Plus, effortlessly upload and archive additional documents within this timeline.
Rest assured, any future alterations to a trust are automatically incorporated into the trust's profile and registry.

Does Corporate Messenger do everything that MYOB's Corporate Compliance/Admin does?

Distinct features of NowInfinity (not in Corporate Compliance/Admin):

DocuSign electronic signatures at no additional cost.
Unlimited users.
SMS reminders for clients at no additional cost.
Customisable email templates and cover letters.
Comprehensive logs of all email and SMS correspondence.
Domain customisation for outbound communications.
Company registration capabilities.
Bulk download of legal documents.
SMS and email reminders for all ASIC debts, extending beyond Annual Statements.
SMS and email functionalities for Annual Statements.
Scheduled ASIC submission features.
Monitoring of overdue lodgements.
Seamless integrations with partners like GreatSoft, Class, FYI Docs, AccountKit, and more.
Robust multi-factor authentication.

Features that will be unavailable in NowInfinity (although present in Corporate Compliance/Admin):

Adding companies not listed on ASIC.
Share transfers into jointly held entities.
Distinct records for shares with the same shareholder but varying beneficial owners.
Editable, customisable document templates.
Access to a community help forum.

Do I need multiple NowInfinity products to get the same function as Corporate Compliance/Admin?

No. Corporate Messenger has been designed to seamlessly meet the needs of your practice, offering a solution that closely mirrors what you were accustomed to in Corporate Compliance or Corporate Admin. No additional products are necessary unless specific needs arise.

Onboarding

Is there a webinar I can attend?

Product Overview

Join us on Wednesday, 18 October at 1:00 pm (AEST) for a 45-minute webinar tailored for MYOB customers showcasing the NowInfinity platform presented by our Senior Consultant, Roxane Bidoilleau. Experience firsthand the cutting-edge technology of NowInfinity and see how Corporate Messenger can enhance your operations. Register here to secure your spot.

Weekly Webinars

Weekly webinars are also available to walk through our corporate compliance solution, Corporate Messenger, and all of its capabilities. These webinars will cover how to get the most out of the platform, customise the settings, utilise bundle changes, and much more.

Corporate Messenger - Part One

An overview of Corporate Messenger, this webinar covers accessing company information, preparing ASIC forms, and sending annual statements.

Every Tuesday, 12:00PM – 1:00PM (AEST)

Corporate Messenger - Part Two

An overview of the Corporate Messenger settings and how to utilise all functionalities, including activating automatic reminders and customising email and cover letter templates. Recommended for users with administrator access.

Every Tuesday, 1:00PM – 2:00PM (AEST)

May I have a demonstration before I join?

We are unable to provide individual demonstrations at this time. However, we offer ample support and various self-service options to assist you:

Join us on Wednesday, 18 October at 1:00 pm (AEST) for a 45-minute webinar tailored to MYOB customers showcasing the NowInfinity platform presented by our Senior Consultant Roxane Bidoilleau. Experience firsthand the cutting-edge technology of NowInfinity and see how Corporate Messenger can enhance your operations. Register here to secure your spot.
We invite you to join our weekly webinars, tailored to help familiarise yourself with our platform. You can find more details and register here.
Access our Documentation Suite on a PAYG basis; no mandatory fees are attached.
Explore samples of our most popular documents within NowInfinity's Documentation Suite, available on a PAYG basis.

For inquiries on our corporate compliance solution, Corporate Messenger, please contact ni.consulting@class.com.au and one of our Onboarding Consultants will be in touch. Should you need further guidance, you can also reach out to Support at 1300 851 057 or support@nowinfinity.com.au.

May I see samples of your documents?

Samples of our most used documents can be found within the Documentation Suite.

Our Documentation Suite is available to you on a PAYG basis and there is no obligation to pay a subscription fee.

NowInfinity’s document platform sits at the core of the NowInfinity eco-system and once your account has been created, you will have access to over 70-plus legal documents as you need.

All of our documents have been through a thorough legal review and drafting process and are able to be branded to suit your business.

Tools like SMS and electronic signing to finalise documents and communicate with your clients in real time are available to you on a PAYG account also.

I am already a NowInfinity user, what does this mean for me?

You can continue to use your MYOB Corporate Compliance/Admin products until 29 February 2024. Corporate Compliance and Corporate Admin will continue to work as normal while NowInfinity and MYOB assist customers in preparing for this change and transition of their companies.

However, on 1 March 2024, MYOB will be deactivating their connection with ASIC which means customers will no longer be able to lodge or download data from ASIC.

We strongly encourage you to consider an early transition to avoid any last-minute rush and to leverage the advanced features and streamlined processes NowInfinity offers. Transitioning early will provide you with ample time to (re)familiarise yourself with the platform and ensure continuity in your compliance workflow.

If you are ready to upgrade your account to include Corporate Messenger, simply follow this link, also provided in the introductory email, to access the subscription form. Alternatively, you can reach out to the Onboarding Consultants at ni.consulting@class.com.au who can provide more details.

How do I ensure my team and operations transition smoothly and efficiently?

To ensure a seamless and efficient transition for your team and operations, we provide an extensive range of support and resources. Once you sign up, an email from an Onboarding Consultant will guide you through every step of the transition, and you'll gain access to an extensive knowledge base filled with over 700 articles enabling self-paced learning. Delve into our Fundamentals of NowInfinity guide, meticulously crafted to help new users navigate and thoroughly understand the platform in detail.

We understand that a smooth transition is critical, and therefore we hold weekly webinars designed to walk you through our corporate compliance solution, Corporate Messenger, covering its extensive capabilities. These webinars are intended to aid users in maximising the platform’s utility, customising it to suit their needs, and understanding bundle changes, among other topics. We invite you and your staff to attend these sessions as often as needed.

Corporate Messenger - Part One

An overview of Corporate Messenger, this webinar covers accessing company information, preparing ASIC forms and sending annual statements.

Every Tuesday, 12:00PM – 1:00PM (AEST)

Corporate Messenger - Part Two

Every Tuesday, 1:00PM – 2:00PM (AEST)

Most customers find our resources comprehensive and sufficient, but if you need additional assistance, we offer access to an Onboarding Consultant for 21 days post the migration of your ASIC EDGE details.

Additionally, please make sure to refer to the boot camp webinar series that will be sent post-migration, for more advanced insights and guidance on maximising the benefits of NowInfinity’s features and functionalities.

We're committed to providing a smooth transition and continued support, offering a wide range of resources to ensure your operations run seamlessly throughout and after the transition process.

Pricing

Will there be pricing changes?

While the ultimate cost of using NowInfinity will vary based on the specific products you choose and the volume of companies you manage, we strive to offer competitive pricing and diverse features.

For those interested in document creation, our prices include electronic signatures and SMS capabilities without any hidden fees. We also provide legal templates that you can purchase on a PAYG basis.

Corporate compliance with Corporate Messenger is charged on a per-company basis. Pricing as of 27 September 2023 is $11.00 per company per annum (incl. GST) with the cost of DocuSign electronic signatures included, charged on a monthly basis. For Corporate Messenger, there is a minimum commitment of $275 per annum (incl. GST), based on 25 companies.

Pricing is updated from time to time. Current pricing is available on our website here.

Our Onboarding team is dedicated to assisting you in navigating the best options tailored to your operations.

Will it cost me anything to move to NowInfinity?

NowInfinity is offering complimentary onboarding and transition services to support all MYOB customers.

Is there a cooling-off period?

Any subscriptions are for an initial 12-month period and then month-to-month with 30 days' notice to cancel; there is no cooling-off period. Please refer to the Terms and Conditions for more information.

Can you invoice me with payment details?

All payments are via direct debit or credit card only.

Do you offer an account for payment?

We understand that payment flexibility can be important, and we strive to make our subscription process as straightforward as possible. Currently, our policy is to manage subscriptions on a monthly pre-paid basis, and we are unable to offer accounts for payment at this time.

Corporate Messenger is charged on a per-company basis. Pricing as of 27 September 2023 is $11.00 per company per annum (incl. GST) with the cost of DocuSign electronic signatures included, charged on a monthly basis. There is a minimum commitment of $275 per annum (incl. GST), based on 25 companies.

Pricing is updated from time to time. Current pricing is available on our website here.

PAYG and subscription payments can be made via a credit card, which can be conveniently saved within the portal, or by direct debit. To pay via direct debit you will need to complete a form and return to accounts@nowinfinity.com.au for this setting to be activated.

What are the applicable merchant fees?

Merchant fees apply depending on the payment method used. For direct debit transactions, a fee of $0.88c (GST inclusive) applies. When using Visa or Mastercard, a fee of 1.05% + GST applies to each transaction, and those using AMEX incur a fee of 2.7% + GST on transactions.

These are standard fees applied to cover the costs associated with processing each payment type. If there are any more questions or specifics you need regarding merchant fees or any other billing-related inquiries, please don't hesitate to reach out to our Support team at 1300 851 057.

Support

Who can I contact if I have any general queries? Will my support and technical services change?

During the transition phase, all regular MYOB support channels will continue to be operational and you will still be able to raise requests with the MYOB Support team on 1300 555 117. However, please note that the cessation of support will coincide with the discontinuation of the Corporate Compliance and Corporate Admin products.

If you have any NowInfinity-specific queries, or concerns not addressed in our available resources, please reach out to our dedicated Support team at info@nowinfinity.com.au or 1300 851 057.

Where is NowInfinity support located?

The NowInfinity Support team is all Australian-based across various geographical locations and offers high levels of customer care.

The team is regarded as one of the best in the industry and can be reached by email, phone, and live chat.

Transitions

What data will I be able to bring across to NowInfinity?

For all MYOB customers who decide to migrate their data to NowInfinity, NowInfinity is extending a complimentary data migration service. The data that can be imported includes:

Share transactions (owner, share class code, class description, number of shares, share certificate numbers, date and type);
Ceased officeholders; and
Documents (PDFs that have been lodged).

Note: NowInfinity can only work with documents and files to which we are provided access.

What preparation do I need to complete prior to my migration to Corporate Messenger from Corporate Compliance?

Complete outstanding lodgements in Corporate Compliance;
Prepare your ASIC Agent number and ASIC EDGE credentials;
Ensure that you have the latest backup of your Corporate Compliance database; and
Review the Welcome to NowInfinity article.

What preparation do I need to complete prior to my migration to Corporate Messenger from Corporate Admin?

Complete outstanding lodgements in Corporate Admin;
Prepare your ASIC Agent number and ASIC EDGE credentials;
Request an extract of your historical data be sent to NowInfinity from a member of the MYOB Support team (NowInfinity can also do this on your behalf); and
Review the Welcome to NowInfinity article.

I want to move to NowInfinity immediately. What do I do?

Simply follow this link, also provided in the introductory email, to access the subscription form. Alternatively, you can reach out to the Onboarding Consultants at ni.consulting@class.com.au who can provide more details.

Integrations

What integrations are available at NowInfinity?

GreatSoft;
XPM;
Class (including Class Super and Class Trust);
Account Kit;
FYI;
Salesforce; and
Cloud storage solutions such as Google Drive, SharePoint, and Box.

Please refer to the Integrations and Cloud Storage Knowledge Base articles for more information.

Which of my workflows will be impacted by this change?

There is currently no integration between NowInfinity and AE/AO and/or Practice. You will be required to keep your contacts up to date in both systems independently.

NowInfinity does however have an integration with GreatSoft, please see here for more information.