London-based digital marketing agency, AccuraCast, was formed in 2004 and employs ten people. The company, which devises data-led marketing plans to help businesses to expand Internationally, has bold plans for both UK and International growth. In 2018, the agency started searching for a new finance partner to support its ambitions.
The agency wasn’t happy with its existing accountant because they were very old fashioned in their approach and didn’t understand digital marketing. On top of this, the accountant wasn’t familiar with Xero accounting software which AccuraCast had moved to, leading to ongoing issues.
“Our accountant just didn’t understand our business and so I couldn’t trust them to provide strategic advice”, says Farhad Divecha, Managing Director of AccuraCast. “They also kept finding reasons for us to pay more and so I felt they were draining us of money rather than adding any real value.”
MAP – a finance function for digital agencies – was recommended to AccuraCast, and after being impressed by its understanding of digital marketing agencies and in-depth knowledge of Xero, the agency signed-up to MAP’s services.
An agency that adds value
AccuraCast immediately felt in safe hands with MAP. It was clear that the company completely understood digital agencies and was forward thinking in its use of technology to streamline processes. Importantly, the agency could turn to MAP for strategic financial advice to reach its growth goals.
Divecha says, “As well as taking away the day-to-day pain of accounting which freed-up my time, I was able to bounce ideas off MAP and discuss strategy. At last I had found a finance partner that was truly adding value.”
Supporting growth and expansion
MAP is now supporting AccuraCast in growing the business. With full confidence in the figures and with a MAP CFO on hand to provide ongoing strategic guidance, AccuraCast has been able to make bold business decisions that have grown the business by an average of 48 per cent per year over the past five years.
“Understanding where we’re going as a business and how to best achieve the numbers has provided us with a really solid foundation for growth”, says Divecha.
AccuraCast is also gearing-up for International expansion with plans to establish offices and acquire marketing agencies in France, Germany and the USA. AccuraCast is looking to expand into both France and Germany this year and then America in 2022 and is currently consulting with MAP on mergers and acquisitions.
“We’re seeing an escalating demand for our services from clients in these particular countries” says Divecha. “It makes sense to establish a presence in France, Germany and the USA so that we can service clients at a local level.”
The future is bright
With further growth expected both in the UK and abroad, AccuraCast is anticipating a bright future.
Divecha adds, “We’re at the start of a new chapter in our agency’s history, moving from a UK-based marketing agency to a growing International agency. We’re excited to see where our expansion plans take us!”