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Is NOW the right time to expand your business Internationally?

Expanding your business Internationally is a monumental task but, if done right, can be a significant driver of growth. We are proud to say that we now have coverage in 190 countries, with a small team and no outside funding.

Invest in a scalable infrastructure

Build a platform that is designed to scale from day one. For example, we made sure that Advisory Excellence was set up with infrastructure where it was easy to add new countries, and track KPIs globally.

A focus on marketing channels that can scale, such as Google, Youtube, Pinterest and Linkedin, can also prove useful in building a strong foundation for future growth. Whatever your budget, these platforms allow you to test the waters as knowledge of your market increases. As campaign metrics demonstrate positive growth, your company can expand budgets to grow reach Internationally.

Think globally, act globally

Being in hypergrowth mode is exhilarating but there are plenty of opportunities to learn from mistakes. When you scale very quickly, there is no time to micromanage locally. Only tailor locally what has been proven to make a significant impact.

Build a small but mighty team

Crafting a small but mighty team is key to moving forward in a positive direction. Even if there are only a small number of individuals, a dynamic team can move mountains when the focus is right. Create a high passion and energetic team which is invested in the future of the business.

If you instil one motto in your team, it should be: fail fast, learn and improve. We love trying new ideas and encourage the whole team to continuously test, especially when it’s outside their comfort zone. The only requirement we set is to approach it methodically, to document the results and to share learnings with the team.

Stay community-focused

Nurture your brand ambassadors; your first and most loyal members or customers will be your strongest voices if they can be involved. We’ve been around since 2013 and have built a community that continuously stays engaged. Listen to your members or customers, speak with them every week and make changes based on your insights. As a result of listening to our members, we decided to start hosting events. There is nothing stronger than a real-life experience and it really makes us stand out from the crowd in a competitive market.

Getting more feedback from your audience can push your business to new heights. We collaborate with our members, so a lot of our content is member-generated.

Work smart

Automate time-consuming tasks. We believe we have a strong proposition for individuals around the world and (while there have been many lessons along the way!) expanding into new markets has been one of the most rewarding things we have done.

How to incorporate Bundled Services into your accounting firm

Accounting firm owners could benefit from taking the time to evaluate their accounting firm as a business. As the owner of my accounting firm, I did just that and realised some changes needed to be made, starting with bundling our services.

Many accounting firm’s follow the traditional model of accepting clients in various industries through recommendations. Others provide clients with valuable services along with business-related compliance services, but don’t highlight those.

We as business advisors would agree that best practices for any business start with an evaluation of current practices so that weak points can be identified and evaluated for improvement. When speaking with other accounting professionals, I find many have similar concerns and “pain points”:

  • We spend countless hours learning tax law, software applications and best business practices. Clients call with a “quick question” and expect an answer without a charge for the time or advice.
  • We set up a plan for “making it through another tax season” and then lose control of our process when the client is not forthcoming with the necessary information to complete the engagement in a timely manner.
  • We bill for the services provided once the engagement is complete and then may have to negotiate our fee or wait for payment until the client receives their tax refund.
  • We start an engagement and then find that there is unanticipated work to be done in order to complete the job properly. We feel we should be paid for this “scope creep,” and then we have to explain to the client why the bill is higher. In some cases, we may not be adequately compensated for this extra work. If our clients are buying our services and advice based upon our knowledge, why are we selling them time?

Our lawmakers have identified us as Specified Service Businesses, they clearly see that we have great expertise as our clients’ advisors. They have also challenged us to interpret the sweeping new laws and provided us with an opportunity to reach out to our clients and start a conversation.

What better time than now to step back and evaluate your accounting firm’s procedures and incorporate a bundled services approach into your pricing and onboarding process? This is an opportunity to redefine how you work with your clients, be specific as to expectations and get paid for your knowledge.

Incorporating a bundled pricing system will also enable you to:

  • Standardise your service offerings into packages that your clients and staff can understand
  • Give your clients what they want, in addition to what we think they need, by separating compliance work from advisory engagements
  • Lock down your fee based upon a service level, helping to eliminate scope creep
  • Get paid up-front when you start the work, thus freeing up time and creating an improved cash flow for your accounting firm
  • Enhance your clients’ experience as you take the time to discuss their concerns
  • Ease into advisory services

When getting started, remember to do the following:

  1. Develop your mission statement. I recommend that you and your staff members get together and create a mission and vision statement that is right for you.
  2. Create a business plan. When creating the accounting firm that you want rather than the one that you have, best practices endorse starting with a business plan. Just as you would recommend to any one of your clients who is evaluating their business and looking to make a change, think about the steps that you need to take in order to reach your goals.
  3. Review your current processes. I recommend you make use of an action plan to help you organise and accomplish your goals. Even though you are excited to create the accounting firm of your dreams, it is important to try going slowly at first by creating tasks you can accomplish.
  4. Evaluate your services. Are there services you wish you could offer but do not know how to initiate the conversation? Start by setting up a list of service categories — you can then identify value propositions that will “delight your clients” and create new opportunities for accounting firm revenue.

Evaluate each one of the services you provide, then review and list all the steps or processes that make up that service. Picture a typical project type, then list the services encompassed in that project. By doing so, you create bundled offers or packages of service offerings.

Your bundles will be specific to your accounting firm and either your current or target clients. Your offerings chart for individual clients may look something like the one referenced in the linked whitepaper, but can certainly be more elaborate. It can contain more lines or services to help your client understand just what they are buying.

Remember that each bundle is a set of services packaged together and each is referred to with a descriptive name that describes the level of service. If you choose to move to a bundled pricing system, you will find that new opportunities will emerge from your regularly scheduled appointments, we have.

Now, our clients call and ask for more and expect the additional services to come with a separate engagement letter and invoice. Incorporating bundled services will help you deliver more value to your clients through advisory work. In turn, you will see improved team morale and cash flow, a better overall client experience and the accounting firm you want.

Allens advises on Ravenhall Prison Project refinancing

Allens has advised The GEO Consortium on their successful refinancing of the Ravenhall Prison Public-Private Partnership (PPP), by way of a long-term US Private Placement.

The Ravenhall Prison Project was designed and built and is being maintained and operated by the GEO Consortium under a public private partnership arrangement involving The GEO Group Australia, Capella Capital, GEO Care, Honeywell, John Holland and Forensicare, among others.

Allens has advised the GEO Consortium throughout the lifecycle of the Project, since the original bid for the development of the asset in 2013.

Work on the original transaction saw Allens recognised at the 2014 and 2018 Infrastructure Partnerships Australia Awards, winning the ‘Advisory Excellence’ and ‘Project of the Year’ categories, respectively.

‘While the transaction continues a trend for operating PPP projects accessing the US private placement market for longer term debt funding, it’s the first custodial prison in Australia to access that market,’ said Partner and Head of Project Finance, Michael Ryan.

‘The Ravenhall Prison Project is a great example of our team’s ability to service our clients as their needs evolve over the entire life of a project,’ added Partner and Head of Infrastructure, David Donnelly.

‘We’ve been there from Day 1 – through the bid, construction and commissioning phases and now as the project transitions to steady a state of operation with an accompanying long-term debt solution,’ David concluded.

Rima Mrad Recognised in List of Top 50 Influential Women

BSA Partner Rima Mrad, was recognised as one of the 50 most influential women in Middle East Finance by Financial News.

Rima was singled out due to her expansive client list and her experience across real estate initial public offerings, insurance and investment banking M&A deals, as well as refinancing and private equity fundraising in the oil and energy sector.

About BSA Ahmad Bin Hezeem & Associates LLP

A growing law firm in the Middle East

Many law firms can give you legal advice in the Middle East. However, very few have started out in Dubai and grown to encompass the UAE, Saudi Arabia, Oman, Lebanon, Iraq and France. So what makes us different? Well, let’s just say: it’s not what we do but the way that we do it.

Of course, as a full service law firm, we have a comprehensive knowledge of local laws and customs. Our people are fluent in a range of languages including Arabic, English and French. And we have access to the relevant local authorities and rights of audience before all the courts.

But it’s the way we interact with our clients that sets us apart from the crowd. Our modernized and progressive approach means we’ll talk to you in a straightforward manner and bring innovation to everything we do, from management information to case handling and billing.

If you would like to find out more information about BSA, please visit https://bsabh.com/

Infrastructure new PHOTO

National Infrastructure Awards winners announced

Infrastructure Partnerships Australia (IPA) has announced the winners of the 2019 National Infrastructure Awards.

Convened annually, the Awards recognise excellence in public administration and business, across major projects.

The Awards were overseen by an independent judging panel, comprising:

  • Ms Leilani Frew, Chief Executive Officer, Infrastructure Project and Financing Agency (Chair)
  • Ms Kim Curtain, Interim Deputy Secretary, Trade, Tourism, Investment and Precincts, NSW Treasury
  • Dr Steven Kennedy PSM, Secretary, Federal Department of Infrastructure and Regional Development
  • Mr Jason Loos, Director, Department of Treasury and Finance, Victoria
  • Mr Neil Scales, Director-General, Queensland Department of Transport and Main Roads

The winners and finalists for each category in the 2019 Awards are as follows:

Project of the Year: Westconnex

Winner/s: NSW Treasury and Transport for NSW (Roads and Maritime Services) and their advisors Allens, Ashurst, BIS Oxford Economics, Clayton Utz, GHD, Goldman Sachs, Newgate Australia, Turner & Townsend, and PwC. Sydney Transport Partners (Transurban, AustralianSuper, Canadian Pension Plan Investment Board, and Tawreed Investments) and their advisors; Advisian, Aquasia, Clifford Chance, EY, E3 Advisory, Greenwoods & Herbert Smith Freehills, King & Wood Mallesons, KPMG, Macquarie Capital, Morgan Stanley, UBS, and WSP.

Finalists:

  • Canberra Light Rail – ACT Government (Transport Canberra) and their advisors; Arup, Clayton Utz, EY, HASSEL Studio, RPS Group, Sparke Helmore, Turner & Townsend, and WSP. Canberra Metro Consortium (Aberdeen Infrastructure Investments, CPB Contractors, John Holland, Mitsubishi Corporation, MUFG, Pacific Partnerships and UGL) and their advisors; AECOM, Architectus, CAF, Herbert Smith Freehills, R-Co, and SMEC.
  • Caulfield to Dandenong Level Crossing Removal Project – The Alliance (comprising of Aurecon, CPB Contractors, Lendlease, Metro Trains Melbourne, WSP), Arcadis, Level Crossing Removal Project, and Major Transport Infrastructure Program.
  • Wentworth to Broken Hill Pipeline – GHD, Jacobs, John Holland, MPC Kinetic, TRILITY, and WaterNSW

Advisory Excellence Award: Sydney Metro Martin Place integrated development

Winner/s: Advisors to Transport for NSW; Ashurst, CBRE, KPMG. Advisors to Macquarie Group; Herbert Smith Freehills, Macquarie Capital, MinterEllison, PwC, and Arup.

Finalists:

  • Infrastructure Victoria’s Advice on Automated and Zero Emissions Vehicles Infrastructure – Infrastructure Victoria
  • Sydney Metro Northwest OTS – Turner and Townsend
  • WestConnex Transaction – Advisors to the NSW Government; Allens, Ashurst, BIS Oxford Economics, Clayton Utz, GHD, Newgate Australia, PwC, and Turner & Townsend. Advisors to Sydney Transport Partners; Advisian, Clifford Chance, EY, E3 Advisory, Greenwoods & Herbert Smith Freehills, King & Wood Mallesons, KPMG, and WSP

Financial Excellence Award: Westconnex transaction

Winner/s: Financial Advisors to the NSW Government; Goldman Sachs, and NSW Treasury. Financial Advisors to Sydney Transport Partners; Aquasia, Macquarie Capital, Morgan Stanley, and UBS.

Finalists:

  • Agribo, Centre for Agribioscience Refinancing – Plenary Group
  • for Darling Harbour Live Refinancing – Capella Capital
  • Kwinana Waste to Energy – Macquarie Capital

Government Partnership Excellence Award: The Caulfield to Dandenong Level Crossing Removal Project

Winner/s: The Alliance (comprising of Aurecon, CPB Contractors, Lendlease, Metro Trains Melbourne, WSP), Level Crossing Removal Project, and Major Transport Infrastructure Program.

Finalists:

  • Canberra Light Rail – ACT Government (Transport Canberra), and Canberra Metro Consortium (Aberdeen Infrastructure Investments, CPB Contractors, John Holland, Mitsubishi Corporation, MUFG, Pacific Partnerships and UGL)
  • Metro Tunnel Project: Rail Projects Victoria and PwC Indigenous Consulting Partnership – PwC’s Indigenous Consulting and Rail Projects Victoria
  • Sydney Metro Martin Place Integrated Station Development – Macquarie Group, Sydney Metro, Transport for NSW

Contractor Excellence Award: Wentworth to Broken Hill pipeline

Winner/s: John Holland and MPC Kinetic

Finalists:

  • Bruce Highway Boundary Road Interchange – BMD Constructions
  • Caulfield to Dandenong Level Crossing Removal Project – CPB Contractors and Lendlease
  • M80 Ring Road Upgrade: Sunshine Avenue to Calder Freeway – Fulton Hogan

Operator and Service Provider Excellence Award: TasWater for the Regional Towns Water Supply Program – Stages 2 and 3

Winner/s: KBR, TasWater, and TRILITY

Finalists:

  • Queensland Schools Project – Plenary Schools Consortium (Plenary Group, DeltaFM and Watpac) and Queensland Department of Education
  • Incident Management Response – Transurban and Ventia

Innovation Excellence Award: uninterruptible power supply for Melbourne’s railway signalling network

Winner/s: AECOM, AEG, Metro Trains Melbourne, Public Transport Victoria, and Thycon

Finalists:

  • Dynamic Speed Management Trial – Transurban and VicRoads
  • Kwinana Waste to Energy – Acciona, Dutch Infrastructure Fund, Keppel-Seghers, Macquarie Capital, Phoenix Energy Australia, and Veolia
  • M80 Ring Road Upgrade: Sunshine Avenue to Calder Freeway – Cowri and Fulton Hogan

In addition, John Holland’s Simon Lehman won the Future Infrastructure Leader of the Year Award. Infrastructure Partnerships Australia said that Mr Lehmans’ profile stood out to the judging panel amongst all the other entries because of his extraordinary commitment to the infrastructure sector.

The judges found that Mr Lehman has proven to be a major asset and path-breaking engineer for the John Holland rail team. His on-the-job mentoring of younger team members and his exceptional work at the forefront of infrastructure delivery was exemplary.

Moreover, Major Road Project Victoria’s Alexis Davidson won the Award for Women’s Achievement in Infrastructure.

Ms Davidson has had a long and successful career in infrastructure over the last two decades. The judging panel said they were particularly impressed by her strong leadership and mentorship of other female engineers in the sector.

The judges praised Ms Davidson for consistently delivering outstanding business cases for Major Road Project Victoria and developing an impressive reputation for her innovative thinking and professionalism as a female engineer at the forefront of infrastructure delivery.

JOHAN PHOTO

Bosch Capital SAPSA advisory firm of the year award

Bosch Capital has been presented with the 2019 Advisory Firm of the Year Award in the category for Commerce, Law and Management, at the annual South African Professional Services Awards (SAPSA) function, held in Johannesburg recently.

Each year, SAPSA recognises outstanding accomplishments in various fields. Awards are presented for excellence in important areas, including transformation, customer service, contribution to the community and commitment to ethical best practice.

“This esteemed award, which is an honour for the Bosch Capital team, comes as the company celebrated its fifth anniversary in 2018,” says Mike Gibbon, CEO, Bosch Holdings. “We are proud that Bosch Capital has been acknowledged for attributes, which encompass the demonstration of leadership skills, professionalism, resilience and performance excellence.”

Bosch Capital offers advisory, capital raising and investment solutions, which form an integrated financial and engineering solution for clients.

The award was presented to Bosch Capital’s Managing Director, Chris Baloyi, who was also a finalist under the Professional of the Year Award category. Chris had this to say about the company’s win: “We are immensely humbled to have won this prestigious award – it is a great motivator for our team, as we steer the business into the next dimension.”

Bosch Capital is a member of the Bosch Holdings group, a diversified group offering multidisciplinary consulting engineering, skills and development and financial solutions. Another tribute for Bosch Holdings was the SAPSA 2019 Engineering Young Professional of the Year Award, which was presented to Jeshika Ramchund, Lead Engineer – Developments, for Bosch Projects. Bosch Holdings and Bosch Projects were also finalists for the Engineering Large Firm of the Year Award and Engineering Firm of the Year Award, respectively.