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Goodman Jones award winning online approach

Goodman Jones LLP, chartered accountants, was established more than 70 years ago in Central London. Today, it has 14 partners and additionally more than 70 staff, serving growing small businesses, mid sized companies and with a particular specialization in handling the UK subsidiaries of global companies. These are often quite small operations locally, but with the kind of requirements you would expect from a large corporate entity. They expect the kind of service and expertise of one of the big accounting firms, but without the cost and overhead that usually comes with that kind of partner. Goodman Jones use online technology to help them provide the level service, whilst keeping the costs down.

The firm has always prided itself on its early and innovative adoption of leading edge technology. They became a customer of Twinfield almost 3 years ago and soon afterwards we published a case study on why they chose the platform and how they were using it. This week I caught up with Philip Woodgate, their business systems partner, to get an update on what they are doing now and how they've made progress. Philip's view is that we are living in a technology revolution with traditional compliance work for an accountant shrinking as business processes are automated.

"As a Central London firm, what distinguishes us isn't compliance, it's added value through our judgement, expert tax help, and commercial advice on the business, but it's always about the client relationship", says Woodgate. "We use a combination Twinfield, so that everyone can access the same data together through their web browser, online meetings, and a conference call so that we can collaborate better. Last week we were working like that connecting partners from a client in both London and Dubai with the Goodman Jones team in Fitzroy Square."

AccountancyAge award 2006 & 2007
Soon after they adopted Twinfield in 2006, the company started using online tools like GoToMeeting, and Philip became one of a small handful of blogging accountants in the UK - he started a blog aimed at Small and Medium Enterprises. They commissioned a completely new website to present themselves better and as a tool to help them win new business. As well as presenting the company, the website allows their clients to access Twinfield, and it has an extranet capability so that they can securely share files and reports with their clients. It was this combination of going online with Twinfield, the website and adopting these other web based tools that meant they won the prestigious Accountancy Age Award for Best Use of the Internet by a Practice in 2006, against major firms like PwC who were also shortlisted. Winning the award once was impressive enough, but even though they only made very minor and subtle improvements, they won the same Best Use of the Internet by a Practice award in 2007 as well.

Philip explains that Chartered Accountants are very good at the detail. "That's a given", he says, "but we spend a lot of time to educate and support the clients, improve their workflow and ensure a streamlined approach to meet deadlines. It's common sense, but in practice it can be extremely difficult to do without the proper tools, especially with the more entrepreneurial types, who often aren't the best organized." Once the compliance is done efficiently, then Goodman Jones can apply their analytical skills and commercial knowledge. Philip says that one of the key strengths of Twinfield is the ability to export data in to a powerful analysis cube in Excel. "The TwinCubes make that really easy, so we can produce a profit and loss by customer or supplier, or do detailed competitor analysis", he said. It allows them to look strategically at the business, and match their advice to the business owner's goals. Philip explained that GJ have a 4 stage approach to collaborating with clients: 1 - Data processing, 2 - streamlining the business processes, and organizing for the client, 3 - analysis and using their knowledge to extracting meaning, 4 - building on their trust relationship with the client to look strategically at the business. Philip suggests that most accountants are good at 1 and 4, but the online technology helps them do a better job across all 4 areas.

Goodman Jones aren't resting on their laurels. They have an update of the website in progress based on their detailed analysis of how the site is visited and used. Their IT company, Fitzrovia IT is also doing a complete revamp of their website adding a client portal. You can guess what their objective is, so we'll be watching the Accountancy Age awards later in the year and we wish them the best of luck.