What is Managing Transactions?
What are the key benefits and features of the Managing Transactions functionality?
Are there any training materials available to help me get started?
Will there be more updates or features added to Corporate Messenger in the future?
How can I provide feedback on the changes?
Why is having share parcels considered better?
Will Balance Adjustments appear and if not, what will replace these?
How does NowInfinity plan to create parcels from my data?
What is Managing Transactions?
Managing transactions revolutionises your approach to corporate compliance within Corporate Messenger. This feature not only streamlines the processes of managing shareholdings but also introduces a suite of tools for detailed, accurate reporting and historical data analysis. It's tailored to reduce manual effort and eliminate the risk of errors through automated calculations, intuitive user interfaces, and enhanced data integrity checks. This means a reduction in time spent on routine tasks or manual workarounds, the ability to quickly address compliance requirements, and the assurance of maintaining accurate records.
What are the key benefits and features of the Managing Transactions functionality?
Managing transactions is a pivotal upgrade to the Corporate Messenger platform, designed to elevate corporate compliance management. It brings a suite of benefits and features designed to streamline operations, enhance accuracy, and improve overall user experience.
Key Benefits
- Facilitates easier management and reporting of shareholdings, fully aligned with the latest corporate compliance standards.
- Minimises the need for manual intervention by enabling easier access to and manipulation of historical data, speeding up the creation of shareholder balances and dividend statements.
- Integrates advanced validation tools for a thorough check against ASIC records, helping ensure compliance while minimising errors.
- Provides users with the means to manage and reconcile share balances more effectively, promoting a proactive stance on share management.
- Enables users to project future balances and generate point-in-time summaries, supporting informed strategic decision-making.
- Directly addresses feedback from users to introduce UX improvements, making the platform more intuitive and satisfying to use.
Key Features
- Tools for handling both current and historical balance transactions, accommodating certificates where applicable.
- Enhances the way shares are validated with ASIC, ensuring that compliance information is both accurate and up to date.
- All existing data is securely transitioned to the new system, preserving integrity and continuity.
- The Knowledge Base is enriched with detailed articles, guides, and tutorials tailored to help users maximise the benefits.
Are there any training materials available to help me get started?
Yes, our Knowledge Base has been updated with comprehensive articles tailored to the managing transactions functionality, aimed at easing the transition to these capabilities. Included are: detailed overviews of features, step-by-step instructions for key processes, and tips for optimising use of the platform.
Additionally, we've integrated interactive, step-by-step tutorials directly within Corporate Messenger to provide real-time guidance as you explore the functionality.
Should you have specific questions, our Support team is available to assist.
Will there be more updates or features added to Corporate Messenger in the future?
Yes, we are committed to the ongoing development of Corporate Messenger. Based on user feedback and industry trends, we will continue to release updates and new features to enhance your experience.
How can I provide feedback on the changes?
We welcome your input via the NowInfinity Ideas Portal, where customers can submit feedback and vote for existing ideas from peers. Further guidance about how to provide ideas, and what happens to these ideas, is available in our Product Feedback Policy.
Why is having share parcels considered better?
Identifying share parcels is essential for effective company and shareholder administration because it allows each shareholding to be tracked as a distinct parcel, reflecting real-world events like issues, transfers, or consolidations. This approach is much more natural and intuitive than simply listing all transactions together, as it mirrors how companies and regulators expect shareholdings to be managed and reported.
Share parcels provide a clear structure: each parcel represents a block of shares acquired or changed at a specific time, making it easier to understand the history and current status of a shareholder’s holdings. This is similar to the “nested allotment” concept used in the legacy Corporate Messenger, but the managing transactions approach aligns more closely with standard interpretations and compliance requirements.
The biggest focus for managing transactions was to improve accuracy and the overall user experience. We believe share parcels are a valuable addition that will make managing shareholdings clearer and more reliable for both administrators and shareholders.
Will Balance Adjustments appear and if not, what will replace these?
As parcels are separated from transactions, the top line balance is always calculated as the sum of all parcels for each member. This removes the need for system-generated Balance Adjustment entries.
This approach is much simpler - there’s no need to review individual transactions to understand how the balance is derived. You can now view a balance at a glance, making it easier to understand and manage.
How does NowInfinity plan to create parcels from my data?
We’ve designed the share parcel feature in NowInfinity with a clear core principle: every change creates a new parcel, in line with requirements of the Corporations Act. Parcels will be created from the current transaction data available on the platform. If there’s sufficient existing transaction data, accurate parcels will be generated automatically. If there isn’t sufficient data to create parcels from your transaction history, an opening parcel will be created, which can be updated as needed.