Mid-tier firms sound like they’re the best of both worlds right? Big enough to have a good reputation and some really smart technicians to make sure your accounting and tax is sorted but not as expensive and elite as the big 4. And If you need services like audit, corporate finance or international tax, then taking your business to mid or top tier accounting firms in Sydney is probably best for you.
But if you’re a small or medium business without those needs, then mid-tier isn’t your only, and possibly not your best option. Why? The reality is, mid tiers are just like small accounting firms in Sydney – but with a bigger price tag and less personalised service. Bigger firms have more people, more people means you need more people to manage those people – these managers aren’t exactly revenue producing so for the mid-tier to make profit guess what they do? Put their prices up.
Because we’ve worked in and with mid-tier accounting firms in Sydney before Watson & Watt came along. That’s right, our staff have the skills, experience and know-how that landed them jobs as senior staff in mid-tier firms and now they work for us.
Who is Watson & Watt? We’re a boutique accounting and advisory businesses specialising in small and medium businesses. We know small business, because we are one. We started as one person with no clients, but a big dream – fast forward a couple of years and we now have hundreds of clients and a skilled workforce of accountants and advisors.
Why Would Businesses And Staff Choose To Leave A Mid-Tier To Come Work With A Boutique Advisory Like Watson & Watt?
We Want To Build A Genuine Relationship With Our Clients.
Being a smaller business allows us to devote more time to the clients that we work with, giving us the time to build a strong, healthy relationship with every customer. Larger firms may not have the opportunity to do so due to the large volume of clients that they encounter on a day-to-day basis, and the pressure for them to hit their timesheet targets. What business owner wants to work with an accounting company where they’re just seen as a number? We think timesheets are counter-productive to building long term mutually rewarding win/win relationships. So our staff are focused on long term goals like client retention, and job completion times rather than how well they can fill in a timesheet.
We Are Flexible
In a similar manner to taking the time to build a relationship, we also take the time to understand exactly what the needs of each of our customers are. In doing so, we can tailor our services to suit each person, rather than simply offering a blanket package which may result in our customers paying for services that they will never benefit from.
We Often Recruit Stronger Employees.
Just as working with a smaller accounting firm offers a different experience for our customers, working for a smaller firm also offers a different experience for our employees. Many accountants who are searching for a new job yearn for the chance to be able to interact with their clients more, which is exactly what working for a smaller firm gives them the opportunity to do. Plus our disbursed approach to staff means we can recruit the best for the job, regardless of where they live. Happy employees translate to increased productivity and better results for our clients so it’s a win-win for everyone.
All in all, working with a smaller firm can present a host of new advantages for your business. It allows you to work in a closer capacity with your accountant and ensure that your needs are being listened to and dealt with. It’s like being a big fish in a little pond instead of a little fish in a big pond – who would ever want to be a little fish?
When you choose to work with us, you can also rest easier knowing that you are working with some of the best accountants in the business. People who have the skills, experience and know-how to work in mid-tier (and bigger) firms – but have chosen instead to work for Watson & Watt – accountants that have a genuine interest in ensuring the best outcome for you.
In the planning of any business, the owner will have ideals in mind with regards to how things will be run and from whom they will seek support services. While initially, only the best accounting firms will do, challenging times can prompt owners to seek the services of more reasonably priced alternatives. This is no bad thing, by the way, since the reality is that the major firms are geared toward larger organisations that have huge profits and can afford to pay their vast teams for the same services that they could find elsewhere.
You may be searching through the top mid-tier accounting firms today in the hope of finding a service provider that inspires hope and confidence. However, even at this level, if you are a small operator, the chances are that you might be aiming a little too high again. One thing that is worth bearing in mind whenever accounting services is concerned, is that any provider that has earned positive reviews and has sustained their business model for some time will undoubtedly come with the kind of qualifications, experience and insights that you need.
Things to Consider When Looking at the Top Mid Tier Accounting Firms
Here at Watson & Watt, we are considered a boutique provider, because we dedicate our efforts to small businesses. Our team of highly experienced consultants earned their stripes in major accountancy firms and we have applied our collective learning in a way that is tailored to suit small businesses. We appreciate the challenges and pitfalls, but we also know how to streamline our accountancy services so that you get the best possible outcome and value.
Whether you put faith in the ranking of mid-tier accounting firms or if you are someone that believes in making a personal connection and determining which provider to then place your trust in, it is worthwhile putting some time aside to consider the language of that service provider and identify their personal approach to accountancy and consultancy.
What’s more, reach out into your network of fellow entrepreneurs and business owners to determine whether any had a positive or negative experience. You can learn a lot and gain a good sense of what to expect from an accountancy firm based on the time that was provided to the client, how their strategies and advice made a difference in terms of profit and whether the work completed represented good value with regards to the fee charged.
2nd Tier accounting firms work that little bit harder for your attention since they need to differentiate themselves and earn your trust, but unless they have a track record of dealing with businesses of your size, scope and ambition, then finding a more streamlined partner probably makes sense.
Ultimately, here at Watson & Watt, we believe that if the best mid size accounting firms fail to live up to expectations or clearly operate in a manner that is designed for businesses that are much larger than yours, then now is the time to look for an alternative that can actually help you grow and thrive.
Tier 2 accounting firms in Australia often deliver fewer benefits to smaller business owners that boutique accounting practices like ours. The specific, measured and tailor-made approach that we deliver is carefully managed to guarantee you a greater standard of profitability within months. We want you to grow your business, reduce your tax and realise the goals that you set and can achieve.
If you are looking for forensic accounting firms in Sydney, boutique accounting firms in Sydney or corporate accountants in Sydney call Watson & Watt for more information
The difference between good accounting firms with recognisable branding and accountancy practitioners that achieve more than simply balancing the books and clearing your tax requirements is huge. You’ll pay less, you’ll profit more and you’ll never regret the decision to place your trust in the boutique business that was built to help you thrive. Call us today at Watson & Watt and experience the difference we offer.