Abound Business Solutions

BACKGROUND

Introduce your business and what you do there.

I’m the Founder of Nine Carat, a Global Business Performance Firm.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Abound Business Solutions?

Accounting Solutions for our Business and those of our Clients.

SOLUTION

What was the scope of their involvement?

Abound Business Solutions has been our general accounting service provider. They’ve worked on several accounting platforms we’ve worked with over the years, including Xero, MYOB, QuickBooks, and cloud-based accounting.

They take care of our tax needs and do the accounts for people who work for us. Their team has also done government incentive works like tax liabilities, tax depreciation laws, and those kinds of submissions.

They’ve also done software migration for us and financial assessments for some of our Clients.

What is the team composition?

I’ve worked with their managing partner, their founding partner, 6–9 accountants, and at least three other members of their team.

How did you come to work with Abound Business Solutions?

I knew the Founding Partner.

How much have you invested in them?

We’ve spent $100,000–$120,000 with them so far.

What is the status of this engagement?

We started working together in June 2009, and the engagement is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The quality of their work is exceptional! Their deliverables make them one of the top-ranked accountants for my business and clients. They’re are particularly efficient at finding misuse of tax applications, business finances and misappropriation of Cashflow, which we use extensively with Clients.

How did Abound Business Solutions perform from a project management standpoint?

They’re good at self-managing — we give them our requirements, and they come back within the expected time frames with a complete project, only coming back to us when specific questions require further clarification. Regarding communication, we use email and Zoom.

What did you find most impressive about them?

Their level of discretion and the longevity of their firm are outstanding. Despite their different adaptation processes, they’ve maintained their ethics and morality throughout the years.

Are there any areas they could improve?

They’ve had some questionable members of staff over the years, although they have not lasted in this environment long. I can’t think of anything they could improve on.

Do you have any advice for potential customers?

I recommend people to consider working with them, even if they already have an accountant!

BACKGROUND

Please describe your company and your position there.

I'm a company director for a market research services agency.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Abound Business Solutions, and what were your goals?

Our consulting work keeps us very busy, so we needed someone to take care of our accounting, which included company structure, Xero setup and tax-related advice.

SOLUTION

How did you select Abound Business Solutions and what were the deciding factors?

I received a personal recommendation to meet the Abound team

Describe the engagement and overall scope of work in detail, including the stages of the partnership and any software or documents used.

Abound provide us with quarterly support and annual advisory. This includes: Support for accounting and Xero queries, BAS lodgement, Tax lodgement and financial planning. When the business first started, Abound also provided company structure advice and set up the business via ASIC etc.

Describe their billing or cost structure.

Quarterly fees

How many resources from the Abound Business Solutions team worked with you, and what were their positions?

We have a Partner (Adam) and Senior Accountant (Ed), who have been working with us consistently over the past 2+ years.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the engagement or general feedback about the services?

Abound have exceeded our expectations in terms of ROI for their advice. The accounting work is well-considered and accurate.

Describe their project management style, including communication tools and timeliness.

The team are consistent and responsive.

What did you find most impressive or unique about this company?

Personal service from a team we trust who have been consistent over time.

Are there any areas for improvement or something they could have done differently?

No