Industry: Financial Services
Geographic Presence: Headquartered in South Yarra with another office located in Brighton.
The Australian accounting industry is a $20 billion market that is experiencing a growth rate of 1.5% per annum. It is forecast to continue growing at a rate of 1.8% over the next five years, stemming from increasing capital expenditure by the private sector, growing business numbers and positive business confidence.
The growth of this sector is driven by cloud services and automation, which are the key technological requirement for accounting firms because they enable them to spend more time generating insights and offering strategic advice, and less time uploading and reconciling data. The two biggest priorities for accounting firms are
additional cloud services and automation of workflows.
Cloud-based real-time accounting service allows to drive efficiency.
Despite this, around 60% of the accounting firms that servers on premises, putting them at risk of hardware issues that can result in data loss and downtime.
The client was suffering from a number of IT issues, including constant downtime from multiple outages, out-of-date software, and a general lack of support and resolution from their IT provider.
They had also become victims of four Cryptolocker attacks in two years. Due to the significant investment in their IT systems, they were no longer happy with their current setup and provider.
Our assessment revealed that the client’s current IT environment was categorised as ‘high risk’. Replacing their systems with upgraded hardware would involve investing more revenue in infrastructure, in both short-term and long-term. We recommended that they migrate to our cloud-based platform, OneSpace.
We started by gathering information from the client’s vendors to understand the applications they used and their installation processes to ensure that their current accounting software would integrate seamlessly with OneSpace. We also used this information to create an onboarding guide for the staff and tested different models of virtualisation
devices to make sure they were compatible and ready for use.
We worked closely with the client and their former IT provider to create a smooth transition to OneSpace. We met with them regularly at their South Yarra office to work through issues and action items, helping the project moved efficiently from discovery to delivery, and guiding them through a very detailed discovery and testing process.
Once the migration to OneSpace was completed, the client was able to access all of their data and applications without issue the day after migration. From assessment to complete migration took around 2 and a half months.
The client no longer experienced IT issues such as lag and slowness and downtime was removed as a problem. This led to an increase in staff morale and a decrease in expenses, as there was no investment in expensive hardware and their associated warranties.