© macintyre hudson 2011 rakesh shaunak the changing business model - and our response to it

© MacIntyre Hudson 2011

Rakesh Shaunak

The Changing Business Model- and our response to it.


• Views vary, what do you think?

• We believe it is the curate’s egg

• UK revenue still flat

• Audit under severe pressure, nobody gladly buys an audit

• Big 4 evermore present in SME market

• Associations did well

• Tax strong, advisory mixed but worst behind us?

• Corporate Recovery unexpectedly slow

Where are we in the cycle?


• Changing client expectations

• Changing work patterns – the Cloud

• Multidiscipline - Legal Services Act

• Service Quality not Technical Quality

Key messages of recent times


• Business are not numbers or market forces, they are made of ideas put into action

• “Old” model now dead?

• Obsession with exactitude immensely constraining

• Clients buy the ends not the means

• Skills and specialism as important as experience

• Leverage your intellectual capital

• Laterals or home-grown?

• Scale, or at least footprint, essential – but how best to achieve?

Time for change


1. Market Offering• Sectors – Focused delivery• Services - Expanding range, some “non-core”

2. Differentiation – total quality service

3. Diversification – outsourcing, strategy, training

4. Positioning – a business partner

5. UK - MHA

6. International – MI filling the gaps and appealing to outbound and inbound

How we compete


MHA is the new national association of which MacIntyre Hudson is the founding member

What is the aim of MHA?

MacIntyre Hudson Association aims to increase growth and profitability for its

member firms, while allowing them to retain the name and brand loyalty that

they have built up within their region or practice area.

It is designed to give clients access to full national and international coverage

and a full range of services.


MHA statistics

We are a UK association of independent accountants and business advisers

7 member firms 7 member firms

141 partners and 1255 staff 141 partners and 1255 staff

34 offices nationwide 34 offices nationwide

£78 million turnover £78 million turnover

UK member of Morison International UK member of Morison International


MHA Sub-Groups – The Force behind the push

Sub

GroupShare material /

ideas

Best practice

Win new work

Aid Business

Development

Technical

discussion

Promote MHA


• Growth up

• Credibility up – expertise, size, coverage

• Risk down

• Access to bigger ticket work improved

• Sharing of best practice

Challenges – no surprises here but:

• Communication, marketing, systems

MHA


• Keeping up with client expectations

• Work life balance

• Attracting the talent

• Retaining the talent

• Is the single partnership still the right model?

• Exit strategies

Key Issues for the Future

© macintyre hudson 2011 rakesh shaunak the changing business model - and our response to it

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