Shift to cloud accounting reveals unexpected value
Standing still isn’t Milanovic Neale’s style. The Queensland-based engineering consultancy has grown significantly in recent years, driven by sustainable expansion across key business areas.
And just like the multi-disciplinary structural, civil and traffic engineering projects Milanovic Neale manages, having strong foundations across services that support its decision-making and accounting functions has been vital. Milanovic Neale’s transition to cloud accounting is a case in point.
In the past 12 months, BDO’s Bookkeeping team has supported the firm’s move to cloud-based accounting software Xero – a process that has revealed unexpected value across the business.
“We knew we had to get the setup right, otherwise we’d always be chasing our tail,” said Milanovic Neale General Manager, Matthew Neale. “Having access to BDO’s best practice knowledge base, systems and support has been very important to us in accessing the full benefit of our switch to Xero.”
Getting maximum returns from Xero
BDO’s Business Services team worked with Milanovic Neale to scope and set up the required day-to-day accounting, performance reporting and compliance practices; monitor performance and make adjustments as required.
The move to cloud accounting has streamlined the firm’s end of financial year reporting and is generating real-time, accurate data for high-level management reports and dashboards – adding real value for the growing firm.
“We were expecting streamlined reporting processes – but there have been so many other benefits of partnering with BDO and Xero for our bookkeeping, including improved data for our business analytics.
“We can now use our internal finance resources where they can give us the greatest return – safe in the knowledge that we’re maintaining the level of best practice we want from our bookkeeping function.”
Find out more about BDO’s Bookkeeping and cloud accounting services.
Rewarding partnership: Milanovic Neale and BDO
Milanovic Neale first experienced the value of partnering with BDO during a strategic planning process five years ago. Since then, Milanovic Neale has evaluated and prioritised specific markets to strike a balance between growing existing services and expanding to new markets.
“Being able to measure the impact of our ongoing strategy, using actual business performance, has been a huge positive; giving our directors confidence in the firm’s direction,” said Matthew.
Milanovic Neale’s resulting growth is proof that the strategy worked.
Find out more about strategic business planning with BDO.
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Considering a move to cloud accounting? Looking for advice on how to tailor an accounting outsourcing solution? Speak to the BDO Business Services team today or contact us.