Client Story: PJS Financial

 In About FYI, Client Story

Sam Horsman is the Business Principal and Partner at PJS Financial, a home-grown Tasmanian accountancy practice that has been operating for over 30 years, with offices in Deloraine and Launceston. Sam and his team offer accounting, taxation, business advisory and audit services to their growing base of individual and business clients, as well as assistance with self-managed superannuation funds.

Problem:

PJS Financial were looking for increased efficiencies and flexibility in their practice and had been on their legacy systems for more than 30 years. Staff were set in their established routines and there were multiple concerns about moving to the cloud. At the same time, they didn’t want to risk being left behind in the old way of doing things, or worse, be out of a job.

  • Practice: PJS Financial
  • Established: 35 years
  • Locations: 2 x offices in Tasmania
  • Size: 14 staff
  • Move to the cloud: XPM (Feb 2018). FYI (Feb 2019).

“The system we used to have just didn’t have the same level of integration that we saw that Xero and FYI and those other products could provide to us.”

Solution:

Moving to the cloud with Xero and FYI was the right choice. They had integrations that other systems can’t compete with, and it gave their staff the ability to work from home – and they love it from that perspective.

Results:

The actual move wasn’t that bad for the team. The practice took a small hit initially, but from there, they’ve since locked in a big benefit from year to year.

  • Went backwards initially – from 118% recovery to 100% in the first 12 months.
  • But the following year, they went up to 145%
  • Saw a 22% increase upon historical recoveries within the first 3 months of year 2

“Now the staff have had 15-18 months worth of change, they’re just like ‘yep sure, what’s next?”

“The biggest thing moving forward, is continuing to look for those little efficiencies that FYI and XPM are doing with their software, and actually implementing those changes.”

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