(1) What led you to speak to MAP in the first instance? I.e. What are you missing that you were seeking to improve?
Since inception, we’ve been working with accountants to stay ‘compliant’. Due to poor, reactive communication with our previous accountants, I learned about the obligations of Ltd companies and what is involved in ‘accounting’.
I quickly learnt that it was nowhere near as complicated as these firms make it out to be. This learning really put their service offering in the spotlight. Put bluntly, they weren’t doing a great deal!
Speaking generally, I feel that accounting firms are too reliant on a lack of client education. They feel that they don’t need to justify the value they bring to the clients they work with. It’s commonplace to see clients work with an accountant through scarcity of not having an accountant/feeling the obligation to work with one. Opposed to the desire to work with a partner to grow the business. It’s a one-sided relationship.
We felt that we needed to make a real change and choose a partner that’d understand our business. One that meets the below main criteria:
- Proactive communication that’s relevant, understandable and industry-specific.
- Acknowledges the need for systems and processes.
- Embraces modern technology and the modern/digital ways of working.
- Identifies where we as a business could be working smarter from an accounting perspective.
(2) What were your reservations when considering whether to proceed with the decision to formally work with us?
The main consideration is the level of investment required.
Our initial calls went really well and we understood the value that MAP could bring. However, the decision to move forward took a lot of thought. In the grand scheme of things, the commitment isn’t business changing. We are still very careful where we spend money – irrespective of how successful we consider ourselves.
The service we’ve undertaken with MAP is our largest monthly service cost, excluding salaries.
In comparison, our previous accountant cost around £230 PCM. It was certainly a consideration for us.
We had other reservations initially, but you cleared these up after our initial call:
- Confidentiality considering the industry
- Geographic location
(3) What were the deciding factors that resulted in your decision to begin working with us?
We had the opportunity to speak further and learn more about the service MAP was offering. It is clear that you are in a different league compared to our current accountant.
We were at a crossroads in deciding whether to stay with an accounting firm that didn’t give anything back and ‘ticked the boxes’ or to make an investment by working with a partner that’ll allow us to see accounting in a whole new light.
We couldn’t compare the two and despite the investment, we could see the value.