Dear Client / Friend / Colleague,
In my capacity as managing director of JMp I am constantly looking for ways in which to improve client services and it is for this reason that I am writing this letter. Before I update you about the new and exciting developments at JMp I would like to take this opportunity to thank each and every one of you for your ongoing support, friendship and the notion of security we all have at JMp knowing we are dealing with some of the best business people in the country.
In the last 12 months JMp has undergone numerous transformations from ‘Time Sheets’ billing to ‘Fixed Costs Arrangements’, from simple bookkeeping software to Xero Accounting Software (cloud based), from a tax -focussed firm to a firm focussed on tax plus value adding processes. Last but not least, from a team of 18 accountants we are now a team of 24 accountants (16 CPAs or CAs). In addition, our administration department is the strongest it’s ever been with some of the best people in the business, making our professional life more efficient.
One of our projects that JMp were involved with was a large business transaction, facilitating the purchase of a certain percentage of a business for $80 Million dollars and acting on behalf of the business following the transaction, helping it to become Australia’s number one E- Retailer (catchoftheday.com.au). In addition, through the process of the transaction we became acquainted with some of the best lawyers and bankers in the country opening many doors and new opportunities for our energetic and knowledgeable young firm.
In comparison to other accountancy firms our size, our strong client-base has withstood the current uncertainties in the financial markets. Even though we feel the market conditions may become much tougher, we strongly believe that we should prepare and work extremely hard to improve efficiencies and our understanding of the space in which the product or the service is marketed. Fox example, I personally do not believe a shop front selling generic products (something that can be sold via the internet) can survive. I also do not believe a wholesaler who is not buying products directly from the manufacturer, can survive for years to come.
One of the business aspects JMp is trying to promote is the ‘Value Added’ services. Those services include in-house management accounting services (what we call a ‘Virtual CFO’) on a casual basis, planning days (reviewing current business conditions and preparing a report about the strategies going forward), Clients Committee, Suppliers Committee, IT Committee, etc. In addition, JMp has access to some of the best consultants and lawyers dealing with infrastructure of credit facilities and importing facilities from China. Recently an article was written about JMp, its employees of Chinese origin and JMp’s ability to facilitate investors from China into Australian businesses.
Two other areas in which we see a lot of uncertainties are the area of employment law (employees’ contracts, HR issues, etc.) and Superannuation funds (mainly Self-Managed Super Funds). In addition to the ATO’s stepping up the compliance level and making our lives harder more often than ever now, we find that everything coming out of the ATO these days is just massive amounts of compliance and debt collection communication. There is nothing constructive nor anything to assist SMEs (Small and Medium Entities) in their business cycle. To be quite honest, we don’t really need any help, we just need them to refrain from causing more hardship. I believe this won’t change whilst most politicians continue to look after their own seats rather than looking after the concerns of the community at large.
We urge you to check out our updated Website, especially the Blog section for some articles written by our very capable staff. Moreover I would like to extend an offer to each and every one of you to let us know you better so we can offer more relevant advice and assessments. We welcome the opportunity of meeting you in person or via Skype. Whether we come to you or even just a phone call to introduce the new people at JMP and maybe even discuss any of the above in more detail. As in any other good relationship, even if we don’t say it often enough, we are really appreciative of the ongoing support, and feel privileged to do what we love doing best. Quality referrals from quality clients is always the best way for us to know our service is appreciated.
JM PARTNERS PTY LTD