Accounting practice PKF sees a digital future with acquisition
With over 750 employees and 90 partners, PKF is a large accounting firm focused on medium-sized organisations and with a top 10 position in Australia.
In various forms, the firm has been in operation for over 100 years in Australia.
They are envisaging a future where they aren’t just a business and finance advisor to their customers but also a technology and systems advisor too.
That’s why 18 months ago, they took their internal love for the NetSuite range of products and started a practice helping their customers with NetSuite in their own businesses.
That’s why they established PKF Digital.
At the same time, OnlineOne has been a specialist NetSuite partner for almost 20 years and sold what’s believed to be Australia’s first NetSuite instance.
OnlineOne had been part of Fronde, which is an ERP system integrator across both Australia and New Zealand.
The original founders of OnlineOne purchased the business back in 2020 and were looking for a partnership to take their practice to the next level.
For PKF, it seemed like an obvious fit to accelerate their own plans, and they purchased 50% of OnlineOne. Its business unit and OnlineOne have now merged under the PKF Digital brand.
This has grown the teams and created a very compelling proposition built around NetSuite software that can be offered to PKF’s thousands of customers across Australia and New Zealand.
“Joining PKF enables us to help more customers adopt an integrated business system to support their goals,” said Don McLean, CEO, PKF Digital.
“This merger represents an important step as we continue to accelerate the growth of our digital offerings and ability to advise and support our clients in all facets of their business,” said Bob Bell, Managing Partner, PKF Sydney/Newcastle.
In addition, Covid has really accelerated many customers' moves from legacy on-premises ERP solutions to cloud-based solutions, according to McLean. This plays well into NetSuite’s solution, which is cloud only and can be easily accessed when working from home.
“With NetSuite being cloud-based, we have actually been ourselves working remotely and migrating customers to it NetSuite remotely for 10 - 15 years. This has positioned us really well to understand our customers in hybrid working scenarios during the pandemic,” said McLean
Also, from the recent Oracle NetSuite SuiteWorld conference and the resulting product announcements, McLean see’s many new automation opportunities for his and PKF’s client base.