“Using Nod, we’ve been able to increase daily advice document creation by 188 per cent while maintaining the same size team,” Jodie Pyke, general manager of Illawarra-based financial planning firm Finance Control said.

Nod is targeting financial planning firms as initial users of the connected taskspace with its deep integration with Iress XPLAN.

“While the efficiencies created are a huge benefit to financial planning firms, I think the most exciting aspect of the software is the real-time access to data for licensees and responsible managers,” said Joel Robbie, Nod’s founder and chief executive officer.

“There is so much manual energy that goes into compliance reporting, and we see the connected taskspace as having the potential to completely transform how this activity is undertaken in the future.”

The company noted that while financial planning is the initial target market, the software can be tailored to suit professionals of all types.

“The connected taskspace is exciting because it brings professional services firms of all kinds into the digital age, where software is accessed from the browser and connects all the tasks in their business together,” Mr Robbie added.

“We’re really excited about the results we’re seeing in financial planning but equally excited by the scope to expand the use of the software into other use-cases in other verticals.”