INTEGRA EDUCATION

IAB Newsletter

We are pleased to share with you the latest edition of the International Accounting Bulletin - a benefit of your membership with Integra.

IAB the only global magazine covering professional services. Focusing on business issues affecting accounting firms, networks and associations, it is a trusted source for leading accounting news, as well as vital data and analysis provided by its survey features.

IAB tracks fee income and staff information from accounting networks and associations globally, regionally and across the world’s key economies, with data spanning back more than a decade.

FIRM UPDATES

Catching up with Harry Nordström at Administer in Sweden and Finland

Did your offices close and have people started working from home?
The offices did not close completely.  However, a strong recommendation was given mid-March to all to start working remotely. This was in line with the recommendation of the local authorities in each country. The recommendation lasted until August 1 – the current status is that it will most likely be extended at least in the metropolitan areas of Helsinki and Stockholm. 

Personnel were offered the possibility to pick up screens, keyboards, laptop station docks etc. from their respective office.  Our IT-team expanded possibilities for remote VPN-logging (since everyone in Finland & Sweden has either WLAN at home or a mobile with data capabilities so how to connect to the net was not an issue).
 
All meetings (customers / internal) switched over to Microsoft Teams.  An obligation to inform one superior immediately when/if a positive test result comes up – for the employee or the immediate family.  All such information then to be reported immediately to Head of HR.
 
Briefly describe your practice and how many staff?
Total number of offices (Administer Group); Finland 21, Sweden 1, Estonia 1
Total number of staff (Administer Group); 650
Services provided; paperless Financial Management with our own fully digital web/mobile, SW eFina, Accounting, Payroll, HR, Tax, M&A, CFO, Controlling
 
How did the Covid-19 affect your business?
No major impact - on overall level - has yet to been seen.  Since all data flow is digital, we have, however discovered, by following the total in- and outflow of payables and receivables, a decline (on average) in the customer data.  Some impact will most likely come with a lag starting this fall. The size of it will much depend o whether there will be a 2^nd / 3^rd wave of the virus spreading or not.
   
All customers are without a doubt very cautious on their spending on any added value services – thus sticking mostly to just the statutory.  In all countries, the Governments decided to offer support to businesses in various ways. Helping out our customers with the application processes generated additional work and billing. However, this is only temporary.

What advice would you give to Integra Members?
For every leader, no matter on which hierarchy level, it is of crucial importance to stay connected with each and everyone in the team regularly also by phone/web meeting, not just e-mail.  At least once a week good to have a “coffee break” all together – web meeting with cameras on. No agenda, very few job-related topics, just go with the flow.
   
Once a month (at least) a large web meeting including all personnel to get a status review from CEO / Head of HR.  Communicate clearly and in good time before what the staff is expected to do and how. Let them know to whose instruction are you basing the decisions on. Let them know if there are any chances.  

Small competitions are fun way to make the staff feel part of work community and chat about something else than work:

• Culture challenge: read book classic, listen to music from 60s’, watch a black and white movie, read a poem, read a study, watch a concert or a musical, listen to a podcast etc. these all online or home of course. (Have a list of these if needed)
• Exercise challenge: Run, walk a dog, do push ups, do gardening, cut the grass etc. and you get a point for every 15min of exercise.
• Remind staff to remember to take breaks during the day and eat a proper lunch.
• Communicate to customers how you can help them.
• Organising a course on: How to lead you self and organize your work week.

Harry Nordström, Administer