BGL Corporate Solutions (BGL), Australia's leading provider of company compliance, self-managed superannuation fund (SMSF), investment management, identity verification and AI-powered paper-to-data software solutions, is proud to announce the release of the highly anticipated ASIC invoice data extraction feature in its market leading company, trust and ID verification management software, CAS 360.

This cutting-edge technology, unveiled at BGL REGTECH 2024, uses the power of BGL SmartDocs to extract debt due dates from ASIC invoices and use these to generate reminders in CAS 360. This data is not available in the invoice data provided by ASIC.

"We are incredibly excited to bring this new feature to our clients," said BGL's CEO, Daniel Tramontana. "The ability to manage ASIC debt due dates in CAS 360 is a game-changer. Our clients have been asking for this capability for years. While the path wasn't straightforward, we saw an opportunity to innovate and deliver a solution that will make a real difference to our clients."

Leveraging the power of BGL SmartDocs, a multi award winning innovative AI powered document reader, CAS 360 now extracts debt due dates, dollar amounts and line items from ASIC invoices. This data is seamlessly integrated into CAS 360, making it easy for BGL clients to manage their compliance obligations. ASIC debt due dates are now included in Company Debt Alerts in the Company Selection screen.

Tramontana added, "This feature is a true testament to BGL's commitment to enhancing our clients' experience. It offers tremendous time-saving benefits, improves processing efficiency and helps reduce the risk of late penalties with more accurate and timely debt reminders. We're thrilled to continue leading the way in compliance management innovation."

The integration of ASIC debt due dates is just the beginning. Future updates will build on this foundation, using the extracted information to automate company debt email/SMS reminders, track penalty due dates and introduce other advanced features that will further streamline processes and empower CAS 360 clients.

Warren Renden, General Manager – CAS 360, Ecosystem and UK at BGL said, “It's a thrill to bring this industry first feature to CAS 360. This feature is unique to BGL and only possible because of BGL’s investment in AI and BGL SmartDocs. For CAS 360 clients, we have been able to use AI for good and deliver a great time-saving feature.”