A question that is often asked of Geoff Ellison, Chairman of the Envirohire/Dragon Drilling Group is, “Why do you use an accountant from Stony Stratford when you are based in North Wales? ” A typical answer is, “That it’s not for convenience; being 150 miles away which takes about 3 hours on a good run.”
The real answer is that in 2012 the Company was up for sale. The prospective purchasers brought with them to the negotiating table Declan Connolly as their financial advisor. The deal eventually fell through but not before Geoff had witnessed his own accountants, who had been engaged for 15 years, in his words, “ be totally shredded” by Declan.
Having decided not to sell the business Geoff terminated the 15-year relationship and immediately appointed Connolly Accountants & Business Advisors as accountants, business and tax advisers for their Group of Companies.
“After months of haggling with the other party we quickly concluded that we were dealing with a very well-organised accountancy practice who instinctively understood how our group of companies worked. We were suitably impressed with Connolly Accountants & Business Advisors to appoint them as our accountants and business management advisors and we were particularly impressed by Declan’s wide ranging knowledge and experiences as well as a highly organised accounts package which was perfect for our business”
Connolly Accountants advised the Envirohire/Dragon Drilling Group to move their accounting & office management for their group of companies to the in-house cloud based system; Fusemetrix. The data transfer was managed accurately within a few hours and allowed them to analyse their accounts at the touch of a button. Connolly Accountants recommended that good quality management reporting was paramount and designed bespoke monthly management reports which proved invaluable.
Finance Director for the Envirohire/Dragon Drilling Group, Andrea Ellison comments, “We supply individual exclusive services from each of our companies and we must always appreciate the profitability of our cost centres. Following implementation of the new system we quickly identified where we needed to make amendments and made dramatic changes to our structure. As a result of the changes we are now much more in control and have increased profitability. The software allows us to have an accurate cash flow position and furthermore we have invested in additional rigs and doubled our growth whilst we see our competitors struggle. If we need to make changes to our software one phone call to Fusemetrix will have the changes implemented within a few hours of any request.”
Connolly Accountants have taken a very business minded approach in working with the Envirohire/Dragon Drilling Group. In addition to ongoing business advice they have given detailed tax advice as and when they have deemed it appropriate to do so. The financial planning and will writing teams ensure a fair share of income is retained.
This is an interesting relationship as we are in North Wales and Connolly is based in Stony Stratford. However with e-communications and telephone contact proximity is not an issue.
The Envirohire/Dragon Drilling Group are now progressing with system improvements and implementing full stock control and invoice scanning.
A final word from Geoff, “You don’t always know how good an individual or organisation is until you come up against them. In 2012 we came up against Connolly Accountants and our team was woefully exposed despite a considerable period of good service. My solution was simple; remove and replace. With sound guidance from Connolly Accountants our business has continued to grow and is now three times the size it was in 2012. Declan very nearly secured our business, for his client, for a fraction of it’s current value. That’s why I don’t mind a 300 mile round trip to see him.”