Technology solutions a catalyst for accountants’ Houston-based growth
Anderson Anderson & Brown LLP (AAB), one of the UK’s leading independent firms of chartered accountants and business advisors, has announced that revenue from its Houston-based clients accounted for 15 percent of its total revenue of £23.8 million ($31 million)…
News7th May 2019
Anderson Anderson & Brown LLP (AAB), one of the UK’s leading independent firms of chartered accountants and business advisors, has announced that revenue from its Houston-based clients accounted for 15 percent of its total revenue of £23.8 million ($31 million) for the year to 31 March 2019.
The firm’s specialist teams provide global tax and technology support to a number of Houston-based clients, including the use of AAB’s innovative and self-designed global tax tracking dashboards. These systems pull personnel and project data from a client’s system, automating the flow of information for tax compliance in around 100 countries at any given time. AAB’s unique systems enable clients to save time, streamline their compliance processes, save money and ultimately manage their global tax risks.
The firm also provides a range of core services covering audit, accounting, tax and corporate finance, to its diverse client base in Houston which spans US listed companies through to owner-managed businesses across various sectors including oil and gas, renewables, retail, financial services and technology.
AAB’s revenue from Houston has grown significantly in the last three years due to major client wins, but the firm’s links with Houston go back 20 years; building relationships with clients and affiliates and attending OTC annually. Currently, over 100 of the firm’s staff work on international projects and this is set to increase as a result of continued investment in and commitment to international growth. The firm’s current pipeline of new opportunities for Houston-based clients is forecast to take its Houston-based income to around 20 percent of revenues by 2022.
Neil Dinnes, International Liaison Partner at AAB, explained, “Our firm’s international presence has grown significantly over the last few years and we now support companies of all sizes with their operations in over 125 different countries. Developing our services and expertise to meet clients’ evolving needs has always been a priority for us. As a firm, we take great pride in supporting our clients with their growth aspirations and, for many of them, Houston continues to be a key area for growth. The importance of Houston and the wider US region to our clients is one of the reasons we continue to invest in developing strong relationships with our international affiliates in the area, which goes hand-in-hand with attending events such as OTC every year. The importance of the strength of professional connections in Houston cannot be understated, for example, because of our collaborative approach we were recently able to identify the opportunity of a seven-figure US tax saving for one of our clients.”
Steven Fraser, Global Mobility Partner at AAB, added, “A key benefit of our ties with Houston, as the Energy Capital of the World, is making strong connections with Houston-based companies who are investing in the North East of Scotland. Aberdeen continues to be an important market for US companies to expand into and also acts as a springboard into other markets beyond the UK. As a result, our firm’s own investment into Houston is directly contributing to the continued success of companies operating in the North East of Scotland, which is something we are immensely proud of. It is great to see successful opportunities on both sides of the pond.
Houston will continue to play a critical role in achieving our ambitious growth target of achieving £40 million ($52 million) turnover by 2022.”
Pictured: Left to right: Heading up AAB’s international team are Neil Dinnes, Graeme Allan and Steven Fraser