Outsourcing smooths entry into new market.

Services for: Global entity management, accounting and tax

Provided in: Australia

When global engineering group Elecnor first entered the Australian market, it wanted to focus its resources on business development and project execution. The single most important goal for the company was to secure its first project and get the local entity up and running as quickly as possible.

However, it only had one company representative in the country at the time – Joseph de Pedro, vice president of Elecnor Australia – who had to manage everything single-handedly. Elecnor realised it needed third-party support for its company administration, accounting and tax functions, so that it could fully concentrate on revenue-generating activity in Australia.

By engaging TMF Group to fully handle its entity management, accounting and tax reporting needs in Australia, Elecnor was able to free up its limited resources to focus on business development. Within 12 months of entering Australia, Elecnor managed to secure approximately AUS$220 million worth of projects. It now has three entities in the country and employs 22 people.

It was only practical for me to outsource the administration and accounting functions to a third party so that I could fully concentrate on revenue-generating matters. The TMF Group team is extremely professional, responsive and willing to go the extra mile to fulfil our needs.