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Class Financial Systems and CCH Australia enter strategic partnership
 

Sydney, Australia (25 July 2011) – CCH Australia has today announced a strategic partnership with Class Financial, the developer of Australia’s leading Self-Managed Super Fund (SMSF) administration software, Class Super, encompassing marketing, sales and system integration. CCH Australia goes to market as CCH, a Wolters Kluwer business, and is part of Wolters Kluwer Tax & Accounting, the world’s largest provider of tax, accounting and audit information, software and services.

President of Wolters Kluwer Tax & Accounting Asia Pacific and Chief Executive Officer of CCH Australia, Russell Evans, said the deal allows CCH Australia and Class Super to combine the broad sales and marketing resources of CCH, as well as allowing the integration of CCH’s market-leading suite of integrated content, software applications and workflow tools into the SMSF industry.

“Given the significant level of complexity in the superannuation industry and specifically in the SMSF category, we are very excited about this strategic partnership with Class Super. Class Super is the leader in its field and we know it will help accountants, administrators and auditors handle the changing SMSF landscape in a far more efficient manner.

“In an industry that is characterised by complexity, legislative reform and penalties for non-compliance, a partnership like the one we are announcing today will help the SMSF ecosystem function more effectively and efficiently and will provide tangible business benefits to our large customer base,” Mr Evans said.

The strategic partnership will include the integration of Class Financial’s products with CCH’s market-leading CCH Engagement platform for improving audit workflow and the CCH Financial Reporter platform – commencing with Class Super. The partnership will also include the integration of CCH’s significant depth of content on SMSF and broader taxation legislation.

Chairman of Class Super, Barry Lambert, said this exciting partnership will allow both parties to simplify and automate many of the manual and routine tasks which currently dominate the cost structures of accountants and administrators across the SMSF domain. “The seamless integration by Class Super with CCH’s wide portfolio of market-leading financial reporting solutions is a market first in Australia, and delivers on our core promise to provide SMSF administration faster, cheaper and easier than it has been in the past.”

The introduction of this integration has further enhanced the useability of Class Super – when the platform was already widely considered to be the most user-friendly and easiest SMSF platform to use in Australia – and further extends the feature gap from other solution providers in the market place. In line with the strong move to “cloud computing”, acceptance of Class’ internet-based systems is accelerating and is currently growing at 10per cent per month.

“We are delighted that CCH has chosen to work with Class Super. CCH is a widely trusted source of information and services for accountants and administrators alike – integration and connectivity is at the heart of what we do – and the two businesses partnering together just makes sense,” Mr Lambert added.

CCH Australia’s tax and accounting services and solutions have been relied upon by taxation and accounting professionals for more than 40 years. Meanwhile, Class Super, which launched in 2009, has become Australia’s fastest growing SMSF administration platform. In particular, it has led the market through its expertise and know-how to build and manage an industry-strength SaaS solution for the management of SMSFs.

This model will not be able to be copied by other providers of SMSF software solutions due to the long lead time when building in a complex “cloud computing” area.

Class Financial’s products and services are highly complementary to those of CCH, which offer tax and accounting professionals fast, dependable access to real-time information to help them effectively manage their business needs on a daily basis.

- Ends -

For more information, please contact:

Greg Conway
Senior Communications Advisor
Wolters Kluwer Asia Pacific
T:  +61 2 9857 1886
greg.conway@cch.com.au

Class Financial
T: 1300 851 057 
media@classsuper.com.au

About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (www.cch.com.au) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Its market-leading workflow solutions help professionals use technology and information to improve their efficiency, productivity and profitability.

CCH Australia is the leading publisher and information provider for the professional services industries, including tax, accounting and financial planning, bankruptcy and insolvency, corporate and business law, competition and consumer law, conveyancing and property, court practice, human resources, employment and safety. CCH Australia products are authored by an in-house team of experts that work with consulting authors who are industry-leaders in their field.

Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer’s leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.

Wolters Kluwer had 2010 annual revenues of €3.6 billion (US$5 billion/£3.1 billion), employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America, serving customers globally. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

About Class Financial
Class Financial is the developer of the on-line SMSF solution Class Super (www.classsuper.com.au), an innovative and market leading on-line financial market solution, comprehensively catering for the accounting and advisory market. Launched in mid-2009, it is the fastest growing SMSF administration platform in Australia today.
Class provides a fully-hosted Software as a Service (SaaS) solution service including enterprise-grade servers, security, protection and internet connectivity.     

                                                                                                                 
Forward-looking Statements
This press release contains forward-looking statements. These statements may be identified by words such as “expect,” “should,” “could,” “shall,” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behaviour of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

 
 
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