What's in a Name?

1
What's in a Name?
2

• Over the past 18 months, Cornerstone Group
  Australasia Pty Ltd has gone through a
  significant amount of change. The business is now
  8 years old, things that worked well 8 years ago
  were due for review to make sure we operating at
  'best practice'. We have reviewed every piece of
  software that we use to ensure that it is the
  best in it's class, we have reviewed every
  process to ensure that it is both efficient and
  effective we have assessed every team member for
  skills and competency and their passion to help
  the businesses that we work with.

3

• The next step in this process of change is the
  name. The name Cornerstone Group Australasia says
  nothing about what we do (and the URL on our
  email is ridiculously long), so we have come up
  with the name iKeep.
• We will formally be changing the business name on
  the 31st October 2019.Our ABN, and all other
  company details are remaining the same.
• It can be viewed as a play on words "I keep your
  books and records up to date", "I keep you
  compliant", or it can be viewed as a statement of
  what we do iKeep is short for "I do bookkeeping".

4

• Our new icon has been designed to be a folded
  receipt, in the shape of a 'K'. You'll see this
  across our social media platforms and other
  locations where a square icon is appropriate to
  be displayed.
• What's important in this journey of change is the
  lessons that we have learned along the way...

5

• Understanding what matters to our customers
• Our customers want a bookkeeper they can trust.
  Trust in our industry means that you can expect
  to be chased when a deadline is approaching,
  trust that transactions are recorded correctly,
  and financial reports that can be used to make
  decisions on.
• Measure what matters
• We needed to figure out what the key metrics for
  success were in our business. What were the
  things that we needed to do that would ensure our
  customers were always happy and our business was
  running smoothly. Some of the metrics we
  identified were

6

• On-Time Lodgements. We have regular lodgement
  deadlines with BAS, IAS. Whilst there are a few
  of our customers that are hard to contact, for
  the most part we have control over this metric,
  and it's an important one. We can't lodge unless
  bank reconciliations are up to date and we are
  confident that the numbers in the reports are
  correct.

7

• Management Reports out by the 15th. Some of our
  clients have quarterly BAS lodgements - but it's
  our philosophy that management accounts should be
  circulated by the 15th of each month. Yes, we
  believe in the real-time dashboards in Xero, and
  all of our clients have their Receivables and
  Payables records updated daily, but the rigorous
  month end process is still necessary to ensure
  that all the accounts are showing the right
  numbers.

8

• A sub-set of the above is being able to report on
  which of our customers have received their
  management report. Previously, the business was
  setup to use Asana for task management and this
  sort of report was not available. We made the
  move to KarbonHQ and this level of reporting is
  available at our finger-tips, and LIVE!

9

• Consistent quality
• Figuring out how to deliver consistent quality
  product is fundamental in what we do. Quality of
  work has a large affect on reputation, which is
  directly correlated to our growth. Here are some
  insights that we learned along the way...

10

• Automate anything that is repetitive. Most
  businesses have regular transactions every month,
  whether is rent, the phone bill, wages - all of
  these transactions should have a rule setup that
  codes them to the same account, with the same GST
  treatment every single month so that it takes no
  time to process.

11

• Monthly two-step reviews. Before any reports are
  sent to our customers, they go through our
  two-step review process. This includes a peer
  review, because it's handy to have a fresh set of
  eyes review the work that you've been closely
  involved in, as well as a managerial review for
  the high-level assessment of "does this look
  right?"
• If you have any questions about the change, don't
  hesitate to reach out and speak with us.