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HPC Blog

April 18, 2017 at 10:00 AM

HPC Client Featured Case Study: ‘Global Tech Companies Need A Global Hi-Tech Hi-Touch Growth Solution’

SaaS & Technology, Doing Business in the United States, Professional Services Solutions

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 How Did This Self Funded Aussie Tech Startup Find It’s Way Into The U.S.?

 

Bang the Tablebangthetablefounders.png started in 2004, founded by Matthew Crozier and Crispin Butteriss.

Matt and Crispin started the business with a vision, then invested in the platform and infrastructure, and launched to begin helping Australian communities and government organizations to connect with their community in a more real-time social setting.

Matt explains the growth they have experienced first hand:

‘We’re rapidly growing organically and have doubled every couple years. We now have presence in Australia, US, Canada, United Kingdom and India.’

Rapid organic growth is excellent for a tech business, but it can become difficult to manage. Matt decided focusing on the customers, his platform and team, and developing new relationships was more or less all he wanted to handle. That’s when he decided to find a new accountant.

‘When I felt my accountant wasn’t providing the support or advice I needed, I found Steph Hinds and Growthwise 6 years ago. I knew she understood growing tech businesses, and she has helped me confidently expand into new markets and countries.’

I think we can all agree that most government or local community organizations can all benefit from leveraging technology and hearing more from their constituents. Once Matt was freed up from focusing on mundane back office tasks, and knew Growthwise would keep him out of compliance trouble, he knew he could take Bang The Table global.

What Was It Like Expanding to The US?

Matt stated: ‘I thought the US would be a business friendly place, but honestly, it’s terrifying.’

Bang the Table expanded to the US as a Benefits Corporation to take advantage of the huge capital market, and to help municipal and community organizations change the way they impact and communicate with their communities.

What he didn’t realize is how difficult it is to complete simple tasks like opening a bank account or hiring US employees. He soon realized he needed more help, and that’s when our Australian accounting partner Growthwise connected him with HPC.

‘The US is a really complex place to do business in. HPC has made it easy on me. Cutting the red tape associated with state and local government bodies, and navigating me through this as I grow is invaluable. My people and me are getting paid in compliance with US standards, and I’m not in jail or kicked out of the country yet.’ Matt said as he laughed.

HPC helps Bang The Table reconcile their US Xero file, provide advice on US best practices and compliance, and works with Growthwise directly in Australia to help manage their global compliance requirements.

A Global Scalable Solution Doesn’t Require A Global Expensive CPA Firm

Technology companies want to spend their time and capital on development and growing their top and bottom line. Also, every technology company is unique, and being treated as a small fish in a big pond is not usually conducive to helping them grow.

By finding Growthwise, Bang The Table was able to work with an expert that helped them leverage technology to save time and promote standardized best practices to scale. They got the advice they needed to grow organically, then the introduction to similar firms, like HPC in the US, and in other countries. All of which leverage similar tech stacks to make it that much easier to boot up local back office processes in new countries, provide local tax and best practice expertise, and collaborate to relieve Matt from the middle of global compliance conversations and confusing accounting jargon.

Matt will never have to talk with a Big 4 firm or go through the difficult process of transitioning his accounting and business to a new advisor. Growthwise will be at their headquarters in Australia to assist with what  he needs as he grows, and HPC is here in the US to help him with all of his company’s growth and compliance needs.




Matt Nyman

About Matt Nyman

As one of our HPC Client Success Managers, Matt helps connect our clients and prospects with the right tools, processes, and overall solutions offered by HPC.