DFK: ‘We Face the Same Challenges at Different Scales’
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For savvy accounting firms, joining a global alliance makes great business sense. It signals a willingness to nurture strong local connections while opening themselves to international opportunities and expertise.?
When the DFK Benjamin King Money chartered accounting practice allied themselves with DFK Australia New Zealand Limited (DFKANZ) and DFK International , it was because they wanted “to provide existing and new clients with access to global accounting and business resources throughout the world.”
It’s a 63-year-old practice that’s sharply attuned to the evolving needs of its clients and staff.
“We have been with TOA Global for over 2 and a bit years,” DFK’s Daniel Shaw , Director (Superannuation), said in an interview in November during TOAcon 2023.
“One of the challenges we’ve faced in the Melbourne market is that the Big Four have gobbled up all the good graduates. Some accountants have decided on a sea change and looked to move into a different industry or out of the accounting profession altogether.”
It’s a story many accounting practices know all too well.
But as part of the DFK alliance, which operates 380 offices worldwide, DFK Benjamin King Money has equipped itself with the expertise and experiences of a global network that understands different niches in an international marketplace.
This has helped them overcome some of the challenges accounting practices face, giving themselves more capacity to build stronger relationships with clients and to provide higher-value advisory services. (At least two other practices in DFK Australia and New Zealand have also built their offshore teams of elite accountants and administrative assistants within TOA Global.)
Speak to experts who understand your challenges
Building an offshore team with TOA Global enables them to operate as a full-service firm, with teams that deliver what their clients need, be it accounting, audit, financial planning, risk management, strategic business advice, superannuation and SMSF, and tax.??
Their clients operate in a range of industries, including construction, health, hospitality, insurance, real estate, and retail.? ? “In terms of receiving advice from firms, it’s best to speak to the experts, come to conferences like this (TOAcon), and talk to your colleagues, big or small,” Daniel said.?
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“We all face similar challenges, albeit at different scales. The more you can get out of conferences and speaking to your colleagues, the bigger difference you’ll be able to make in the long run.”?
Another challenge that accountants share is being time-poor, particularly during busy seasons like the end of the financial year.
In 2023, DFK Benjamin King Money hosted the Working Smarter Series, where participants learned from author Donna McGeorge (The 15-Minute Meeting and The ChatGPT Revolution) how to:
The rewards of growing careers
Being able to increase their capacity and win back their time are just two of the many advantages accountants can unlock when they outsource with TOA Global.
Add to that the ability to help their teams grow their careers, both offshore and onshore. All TOA Global clients can lean on our education division, Ab2 Institute of Accounting, to answer their team’s training needs and design their professional development plans.
DFK Benjamin King Money is currently based in Camberwell, Melbourne and is on track to move to their new, state-of-the-art headquarters in Richmond in 2024.???
More than 1,000 thriving practices like DFK Benjamin King Money have unleashed sustainable growth by building a global team. Curious about how professional services outsourcing can support your strategies for greater capacity and business growth? ? ? Ask us about outsourcing. At TOA Global, we have connected more than 3,700 elite accountants and bookkeepers with the most adaptable and innovative accounting businesses.