Moore Stephens LLP, one of the top 5 accountancy firms in the UK, and now part of BDO, have come a long way in which they view and operate IT among a digital world.
The accountancy industry by nature isn’t at the forefront of technology compared to other industries, mainly due to the vast quantities of regulations and compliance. This is where Moore Stephens wanted to be different.
To be a driver in the way they use and adopt technology and take digital innovation head on, enabling them to drive value into the business and build a solid foundation for their 1300 employees and customers alike.
The risks were high when searching for the right provider to take on the IT transformation journey they’d planned. They needed someone that was like minded and who would share the risks involved whole heartedly – ultimately “being in it together and needing someone to come on the journey with us”.
This is where Timico came in. Timico provided an OPEX based solution that included end-to-end support, the required hardware and software which ultimately enabled Moore Stephens to have a cost-effective way of achieving their aim, driving the growth of their business but whilst also creating an agile working environment for their employees.
Creating a new culture and agile way of working did come with its limitations. It was identified that over 60% of the workforce were millennials, who wholeheartedly embraced the access to new apps and technology, taking the change in their stride. But for those that weren’t so familiar with the new technology stack, it meant that there was an added handholding process required. Timico helped solve this solution by creating a VIP support service, enabling those less familiar to gain confidence in the change and empowering those people to welcome the new digital world.
With the transformation complete, Moore Stephens are ahead of the curve in many ways. Users are more agile than their competitors with slicker times to process, they have a defined roadmap for further improvements and have a solid support and service foundation in which they can continue to build on. The changes have also had an impact on their carbon footprint as employees are actively encouraged to work from home as they have the tools and capabilities to do so. This creates the ability to cost save as a company and in-turn improving their employees work/life balance.
With help from Timico, they doubled their revenue growth in 2018, citing continued significant investments in technology and resources which aided them to achieve this. It was a risk that paid off and a true testament to how two parties can come together to build a partnership and succeed.