The Australian SuperStream reform is designed to enhance the ‘back office’ of the superannuation system. Industry savings will allow benefits to flow to members and employers in the form of lower fees and charges and improved services. The Australian Government mandated the SuperStream initiative for the Superannuation industry. These initiatives are designed to make superannuation simpler for Australian people, and the industry easier to do business with. 

 

[..] The so-called Standard Business Reporting regime has long been touted by the Australian Federal Government as a means to reduce the reporting burden on business by allowing company financial reports and tax returns to be machine-readable, removing manual processes and reducing errors by companies and government agencies [..] The use of SBR is also now compulsory for transferring member data between superannuation funds under the Superstream reforms [..]

Fujitsu announces the release of its ebMS3/AS4 messaging product for SuperStream. Building on its experience as a key member of the OASIS ebMS3/AS4 technical committee, this offering is a significant enhancement of the software which Fujitsu used in December 2010 interoperability tests for ebMS3/AS4. Together with Fujitsu's well established XWand SBR XBRL Processor it will help companies successfully implement the mandated requirements of SuperStream in a timely and economical way. 

 

15 February 2013 – The OASIS international open standards consortium announced the approval of version 1.0 of the Applicability Statement 4 (AS4) Profile of the ebXML Messaging Services (ebMS) 3.0 standard. Based on “just-enough” design principles, the Profile provides an open standard for the secure, payload-agnostic exchange of purchase orders, invoices, and other business-to-business documents using Web services. AS4 is now an official OASIS Standard, a status that signifies the highest level of ratification.