Amped HQ

BACKGROUND

Introduce your business and what you do there.

As General Manager at SiteCare I am responsible for the execution of strategy and ultimately, the growth and success of the organisation. SiteCare is a prominent and respected national leader that accelerates New Zealand’s achievements towards a fully sustainable natural environment.

We are providing environmental & sustainability solutions using innovation and expertise to enable our client's sustainability achievements, provide direct environmental improvement solutions, and we lead by example.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with the vendor?

We brought in Amped HQ to take ownership of our finance function and after operating a traditional in-house finance model for many years. We wanted new eyes, specific expertise, and an all-in-one solution to ensure that the numbers are taken care of.

SOLUTION

What was the scope of their involvement? 

The team at Amped HQ hit the ground running as soon as they had access to our accounting platforms. They invested a lot of time documenting processes and creating live SOP’s (standard operating procedures) that ensure business continuity, if anything ever happened to a member of the team.

What is the team composition? 

We currently have a dedicated finance manager and a CPA.

How did you come to work with the vendor?

Having worked with Alex for a number of years I knew that he was able to deliver on what he promised. He gave me a run down of how his outsourcing company operated, and the standards to which they hold themselves. I was then presented with a thorough and professional proposal, which reinforced my belief that we could successfully outsource our finance function - improving output whilst decreasing costs.

How much have you invested with them?

Our contract with them costs around $8K NZD pcm, for which we receive an end-to-end finance function solution.

What is the status of this engagement?

The current engagement is active and on-going.

RESULTS & FEEDBACK

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

We now experience proactive support across the business from our finance team. Everything from day-to-day operations right through to business intelligence for our project managers so that they can make more informed decisions. Additionally to this, our month-end cycle has shortened by around 2 full days and we are saving circa. $50K a year vs. market rate for the same headcount.

How did the vendor perform from a project management standpoint?

The team from Amped HQ are extremely responsive, no matter the time of day. They have adopted our communication platforms (gmail & hangouts) as well as running their own internal communication platform to ensure that resolutions are dealt with as quickly as possible. Upon entering into a partnership with Amped, the onboarding process/transition was seamless.

What did you find most impressive about them?

From the start of our engagement, we could tell that the team at Amped HQ had only one thing in mind, and that was to deliver. We received a thorough briefing prior to receiving an extremely professional proposal. Upon signing the proposal, they got to work right away and have not looked back since. Their availability is second to none and their response times are fantastic. Their attitude to deliver on time, every time - morning, noon, or night - is very impressive.

Are there any areas they could improve?

Nothing comes to mind, they provide a proactive, quality, cost efficient service.

BACKGROUND

Introduce your business and what you do there.

I am the Managing Director of Watts Up Electrical QLD. Our company focuses on electrical works (residential and commercial) as well as the residential solar systems installs.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with the vendor?

In late 2019, it had become obvious that our current bookkeeping and accounting team were well out of their depth when it came to keeping up with the growth of the company and the complexity of the finance function, we needed to find a new team. We decided to be open to all options as we knew we needed expertise to support us as we grow and scale. We engaged Amped HQ to provide us with the finance team that we needed to scale and deal with the complexities of our growing business. 

SOLUTION

What was the scope of their involvement? 

The scope of the project was to take control of our finances again (the last accountant had left them in a mess), understand our profitability and have peace of mind that our books are being managed accurately. 

What is the team composition? 

Our finance team are now fully remote and consists of an accountant, a payroll specialist, and an account manager.

How did you come to work with the vendor?

I knew the founders (Alex & Josh) from a previous business we were involved with, so when I posted that I was looking for a competent bookkeeper, they responded online, and we booked a call to discuss our needs and their service offering. I was very impressed with their friendly (non-accountant) type approach, their commitment to clients and their proposal process.

How much have you invested with them?

In the last 2.5 years we have invested close to $80,000AUD with them.

What is the status of this engagement?

The status of this engagement is that it is currently ongoing and will likely grow as we continue to develop our services within the commercial building space.

RESULTS & FEEDBACK

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

We have been able to pay back more than $70K worth of Tax Department debt. We have caught up with our financial and tax obligations which in some cases were more than 3 years behind. We have been able to get a clear understanding of our profitability. We now know exactly how much it costs to run our business which has subsequently allowed us to charge correctly. Since starting with Amped we have grown our company, and also have a subsidiary that Amped HQ also manages.

How did the vendor perform from a project management standpoint?

The initial project management from an onboarding perspective was very impressive. We scheduled an onboarding session whereby we worked through our business and how it is supposed to operate. They then went away to build out SOP’s (standard operating procedures) so that they could systemize our workings and deliver the numbers that we needed them to deliver.

What did you find most impressive about them?

I've been impressed with their willingness to say yes and figure things out. As our engagement unfolded, they had to tidy up prehistoric tax work that had previously been missed. They moved quickly on this, dealing with the correct authorities, and relaying to us where and what was happening. They also have a very informal approach to communication whereby they provide instant communication channels (via Slack) vs traditional communication via email. This helps to have work completed in an extremely timely manner.

Are there any areas they could improve?

I am a great believer in continuous improvement – I have had to chase a couple of times for tasks to be completed, but usually, this is around peak times such a month-end when the team is pretty busy – so other than that, not a lot! 

BACKGROUND

Introduce your business and what you do there.

I am the CFO of an international health and wellbeing tech company headquartered in Dubai with entities in Singapore, USA, and Hong Kong. We have 20 employees and our clientele are large multinationals who are looking to make an investment in the health and wellbeing of their workforce. I oversee operations and finance.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with the vendor?

We hired Amped HQ in late 2020 to deliver, staff and run our entire finance & accounts department so I could focus my time more on strategy and investment. Although we had internal staff in the finance department, we believed the best solution for us was partnering with an outsourcing company for the quality of work, speed at which they could learn new tools and effectively deliver on what our finance and accounting department needed.

SOLUTION

What was the scope of their involvement? 

I wanted to have a partnership with a team who had the expertise that we need now, but could also support our growth through funding rounds in the future.

What is the team composition? 

In those initial stages we were in direct comms with the founders of the company and our new CPA who would be managing the day to day accounts. Due to the founders having an accounting background, their council was very helpful as we had never had an outsourced team before, so needed systems and softwares implementing to ensure a smooth transition.

How did you come to work with the vendor?

We knew that with our international B2B customer base, although we had internal staff, an outsourced model would benefit us in the long term. Having known the founders prior to working with them, I was already aware of the business that they were running. Upon engaging in a conversation with them about outsourced finance functions, I was really impressed with the comms from their team, their proposal and their commitment to excellence.

How much have you invested with them?

Initially we invested a lot of time to ensure that they could get up to speed and understand the qwerks within our business. From a financial perspective, we have invested over 6 figures to ensure that our company is properly supported from a finance function perspective.

What is the status of this engagement?

The engagement is ongoing.

RESULTS & FEEDBACK

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

Our finance function has never run smoother as it does now. Throughout the time we have been with Amped HQ, we have saved nearly 40% on what it would cost us vs. local market rate - to get the same level of output that we get from the team; who are now managing all AR, AP, bank reconciliation, purchase order management, cash flow analysis, collections, dispute management, forecasting and board reporting.

How did the vendor perform from a project management standpoint?

Once we had signed the very well presented proposal, within 1 day we were given access to an onboarding portal and within 2 days, scheduled in 2 discovery calls where the team deep dived and learnt all about our business. Revenue Model, AR Cycle, AP Cycle, accounts email process, requirements and expectations, reporting deadlines payroll, nuances within our business. This instantly solidified we had partnered with a company who valued the customer experience. After our discover calls, they were straight into learning all they could. We set up slack and scheduled regular meetings. It really felt like they were just an extension of our current team

What did you find most impressive about them?

I was really impressed with the experience that Amped HQ has and the guidance provided while transitioning to an outsourced framework. The quality of staff they are able to source was also very impressive and we couldn't be without them now. We will certainly be growing with them as the company continues to grow in size and complexity.

Are there any areas they could improve?

Nothing at this specific time.

BACKGROUND

Introduce your business and what you do there.

Hearty As is a dumpling restaurant and I am the co-founder.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with the vendor?

We partnered with Amped HQ to handle all our accounting & bookkeeping needs very early on in our journey.

With the speed the company was moving, we needed a reliable team with the expertise in systems and structures and accounting to be able to handle our day to day finances so we could focus on operations and making the best products we could possibly make.

SOLUTION

What was the scope of their involvement? 

We wanted a partnership where we could solely focus on operations, delivery and customer experience while having full trust that our bookkeeping & accounting department was running smoothly.

We knew we didn’t have the in-house experience to manage an accounting team so we turned to outsourcing as a way to manage cost but also attain the help we needed.

What is the team composition? 

We have great communication lines with our team in the Philippines. We have 2 accountants now who had a bit of a job to start with but figured it out. They have great soft skills and have helped us immensely to get things under control - all of the systems put in place.

How did you come to work with the vendor?

We had a previous tax accountant who had previously handled all our needs and instantly came to mind when we were tossing up our decisions.

However once we started chatting to the founders of Amped HQ and they talked to us about their outsourcing model and pricing structure, it made sense for us to avail their services with our plans to rapidly expand.

How much have you invested with them?

To date we have invested around $10,000 in their services.

What is the status of this engagement?

This engagement is up and running, and should continue for a long time.

RESULTS & FEEDBACK

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

Our outsourced accountants now manage everything end to end. From record to report they have it all under control. It really was a perfect fit because of the value they provide.

The cost benefit to outsourcing has also enabled us to avail talent that would be out of our price range in New Zealand.

How did the vendor perform from a project management standpoint?

We had a few discovery meetings to talk in depth around the level of experience we would need in our outsourced staff team members and once the proposal was signed by all parties, onboarding began pretty quickly.

Being in hospitality, our revenue model is simple, our AP process is simple and they picked it all up super quickly! One thing we needed to get sorted was a payroll solution for our growth employee base which the team knew exactly what to use and how to get it up and running.

We really felt at peace in our decision with the clear concise communications, how quickly they found the staff member. Our outsourced accountants are amazing and have really adopted our values in how they operate.

What did you find most impressive about them?

What has been really impressive is the value that we have received. We have been able to leverage the team to take on tasks that have freed up our time and brainspace to focus on other things in the business. Their staff who are dedicated to our account are amazing.

Are there any areas they could improve?

Nothing to improve however i am sure they will bring more and more value to the business as we grow.