The Benefits of Collaborative Working (PrimeGlobal)
Business Opportunities
July 5, 2022 - Larking Gowen, Visser & VisserFor the start of our July Insight Theme, this is an article by PrimeGlobal about the benefits of working collaboratively and the business opportunities this can create.
Does your firm have good news story about working collaboratively with another member firm? Submit your story here.
One of the key benefits of PrimeGlobal's membership is the global network of first class accountancy and advisory services members have access to. Whether you have clients who wish to expand their connections into Asia Pacific, or you want to reach out to a member firm in North America for peer support, being part of PrimeGlobal gives you the platform to work collaboratively and create global business prospects.
What is Collaborative Working?
The Institute for Collaborative Working's (ICW) definition of 'collaborative working' is:
"Business relationships formed by committed organisations to maximise joint performance for achievement of mutual objectives and creation of additional value".
Collaborative working is about actively seeking out supportive relationships with other professionals in our field who help us to get the best out of ourselves, whilst simultaneously offering a reciprocal approach in order to fulfil our business goals, and ultimately create added value for our clients requiring accountancy and business advisory services.
Working Collaboratively within PrimeGlobal
As a member of PrimeGlobal, working collaboratively is clearly something our firms care passionately about and put a strong focus on, with over 700 business referrals reported on in the year 2021/2022.
Some great examples of collaborative working happens at our PrimeGlobal in-person events, including the recent Business Leadership Forum in Manchester, UK.
During the Business Leadership Forum, member firm Larking Gowan were keen to address the unprecedented challenges that UK businesses are facing during a shrinking economy and increasing inflation rates, realising how more than ever it is important for UK businesses to plan and work with other trusted advisory firms if they want to ride the storm and avoid the economic fallout.
Speaking at the event Managing Partner Julie Grimmer, and Partner John Atkins, shared their thoughts.
“This event has brought together likeminded firms and has produced some powerful thought leadership. It’s highlighted important challenges including economic fallout and talent acquisition, which face not just the accountancy sector but the business community as a whole.” Julie Grimmer, Managing Partner, Larkin Gowan
“The well-publicised cost of living crisis is affecting us all, whether it be our businesses, or personally. Inflation is currently running at around 9% with over 50% of this being driven by energy prices.
The economic uncertainty and supply chain issues are putting a huge strain on cashflow making it important now, more than ever, to plan for the future and get advice from a trusted source." John Atkins, Partner, Larkin Gowan.
During their collaborative presentation at the Business Leadership Forum, Erik Klop of member firm Visser & Visser and Anthony Casey of Noone Casey, spoke about the benefits of collaborative working, including how working collaboratively means you don't need to be 'experts' in everything, and that there is a place for both boutique firms and large multi-dimensional firms, as a collaborative approach combines the two business models with greater outcomes for everybody.
The simple and most effective way to work collaboratively is by building relationships, developing trust and rapport, and ultimately, requires patience for a collaborative approach to be truly beneficial.
"PrimeGlobal offers this [collaborative working], to firms on a global scale. Not only does it safeguard work going out, but we can say that 100% of incoming work has been won from meeting people and building those personal relationships." Anthony Casey, Partner, Noone Casey
“Working collaboratively brings about different perspectives to common issues within the accountancy and business advisory sector. It helps greatly with problem solving, but more than that it encourages continuous professional development and personal growth. The firm benefits, the client benefits, and the individual benefits. Definitely a win-win for everyone!” Erik Klop, Managing Partner, Visser & Visser.
Content by:
Larking Gowen is a leading independent firm of Chartered Accountants and Business Advisors, providing accounting, tax and business advisory services to businesses, organisations and individuals across Norfolk, Suffolk and Essex. Founded in 1888, the firm has over 400 people working across five offices and offers specialist expertise across a wide range of sectors, including agriculture, healthcare, education, charities, legal services, construction, tourism and leisure. Its specialist teams provide support in areas including corporate finance, tax, VAT, business strategy, business recovery and succession planning.
Learn more
Visser & Visser is a medium-sized accounting and advisory firm with sixteen offices (including the main cities Amsterdam and Rotterdam and a South-African branche) and around 600 employees. We offer the full spectrum of financial and strategic services for small and large businesses. As a top 20 consulting firm, we strive not only to be close to our clients, but we also work together to build a platform for entrepreneurship that helps every entrepreneur move forward. Visser & Visser does everything possible to support, guide and challenge entrepreneurs and businesses in making decisions. With numbers as a source of insight, supplemented by programs for personal leadership, teams and organisational strategy.
Learn more
