Business Leader spoke to Jeremy Hayllar, Head of Business Advisory, Business Services & Outsourcing to find out how BDO can help your business.
Can you tell us about how you can support businesses?
BDO’s Business Services & Outsourcing team supports businesses through every stage of their lifecycle. We provide back-office finance, accounting, compliance and IT consulting services – freeing up leadership teams time to focus on the strategic direction of their business.
Deciding to outsource is never easy – you have to have faith in your outsourcing partner to consistently deliver a smooth finance and payroll function. We develop an in-depth understanding of how our clients work, so they can trust us to provide a seamless, technology-enabled outsourcing experience for the business, their staff, suppliers and other stakeholders.
What areas or sectors do you specialise in?
As a leading UK and global practice – we have a strong sector focus, meaning our clients have access to outsourcing teams who live and breathe their sector and act as strategic advisers. It’s this in-depth industry knowledge that has led businesses from across the technology and media, manufacturing and real estate sectors, to name a few, to choose BDO as their outsourcing partner.
As businesses expand overseas they can tap into BDO’s global network of 1,809 offices in 167 countries. We ensure they are prepared and have the best chance of a soft landing into international markets.
What profile of business or entrepreneur do you prefer to work with?
Our heartland is in the ambitious, entrepreneurial mid-sized businesses that we call the UK’s ‘Economic Engine’ – including owner-managed, Private Equity or Venture Capital-backed companies.
Many of these companies are rethinking their business models and evaluating outsourcing as a means of building flexibility and responsiveness to further economic shocks.
We want to see a balanced recovery from the COVID-19 pandemic that is not over-reliant on any one sector or region but which makes the most of Britain’s skills and entrepreneurialism; a national economy which is outward-looking and helps home-grown businesses expand abroad. Our focus is to help these businesses succeed.
Can you give any examples of how you have helped businesses?
Our ambition is to help companies to manage the incremental cost of their finance function as they grow, drawing on the wider expertise of BDO to alleviate any pain points that might arise.
PROPERTY MANAGEMENT COMPANY
We support a property company to improve management reporting and report on performance by property in real time. Bank feeds and invoice scanning provide an up-to-date picture on the state of finances for the company.
We provide a high growth UK business, headquartered in Japan, with a full outsourced finance function – delivering management reporting, technical accounting advice and statutory accounts – as they seek to use the UK as a launch pad for future expansion into Europe. As their trusted advisor, we’ve been able provide fully grant-funded training on customs and duty, as well as identifying VAT risks and opportunities.
A UK partnership with 15 offices and six divisions was advised on the migration to a unified accounting system and processes, where the previous supplier had difficulty understanding the businesses requirements.
We developed a system migration plan, oversaw the tender process for IT suppliers and negotiated terms and conditions – leading to a successful system implementation.
We provide a full finance function including payroll, bookkeeping, tax advisory and annual reporting to an owner-managed, Midlands-based manufacturer – allowing the business to focus on building their business in the UK, Europe and the US market.