Whiting & Partners
Industry Sector: Financial & Legal
Whiting & Partners is a long-established firm of chartered accountants with nineteen partners and eight offices across East Anglia.
Like many accountancy practices in recent years, Whiting & Partners have found themselves in an increasingly competitive market. As a result they have expanded their traditional accountancy and tax return compliance work to include specialisms and niche services, especially those focused on the needs of SME’s.
Case Study:
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Left to right: Chris Kelly and Michael Caddock, Partners at Whiting & Partners Michael Caddock and Daryn Dodge, Auditel Consultant
Recognising that many of their clients face similar competitive pressures and find it increasingly difficult to achieve and maintain good profit margins, Michael Caddock, Managing Partner at Whiting & Partners, and his team are always keen to find new and innovative services to help their clients prosper. In early 2003, Michael engaged Daryn Dodge of Auditel to help Whiting & Partners take control of their strategic and non-strategic overheads, with great results.
As Michael points out, “The main reason for appointing Daryn was to help us make sense of all the opportunities and choices available to us within the utilities industry. We knew savings opportunities existed but just didn’t know where to start: it was more profitable to get on with our core business of audit, accounting and taxation and let Auditel get on with saving us money. So far Daryn and his team have saved us more than £30,000 on various overheads without compromising quality or service so we’re very pleased we made that decision.”
As close advisers, Michael and his team knew that many of their clients could be missing out on cost saving opportunities by paying too much for their essential services overheads but that few, if any, have either the time or in-house expertise to carry out cost management exercises themselves. For this reason, Whiting & Partners have now become members of the Auditel Partnership Programme, enabling them to add Auditel’s out-sourced service to their portfolio.
Savings Achieved:
£24,000 (33%) Savings on Fixed Telecoms
£10,000 (23%) Savings on Electricity
£4,000 (13%) Savings on Gas
£32,000 (25%) Savings on Office Supplies
Total Saving: £70,000
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