Client Case Study
Overview
Katapult Design is a leading global product design and development consultancy with studios in Byron Bay, Sydney and Melbourne. Their award-winning team of industrial designers, product engineers and creative thinkers boasts over 30 years of experience developing a wide range of products, from medical and high-tech electronics to hardware and much more.
The Challenge
As a rapidly growing business with a diverse portfolio, Katapult Design faced significant challenges in managing their financial operations. From cash flow management to tax compliance and strategic financial management, the complexity of their financial landscape increased with their expansion. Katapult Design needed a partner who could provide comprehensive financial advisory services tailored to their unique needs.
The Solution
Collins Hume stepped in to provide a suite of services that went beyond traditional accounting. Recognising the specific challenges faced by Katapult Design, Collins Hume offered:
Tax and Quarterly Accounts Management: Initially providing local tax and quarterly accounts assistance
Business Restructuring: Assisting in restructuring the business to optimise operations and financial efficiency
Financial Management: Offering detailed financial management services to improve the way Katapult Design handles their business accounts
CFO Services: Jamie Doyle acted as a de facto CFO, meeting regularly with the Katapult Design team to provide in-depth feedback on their financial performance and strategic advice.
Implementation and Collaboration
The collaboration between Katapult Design and Collins Hume has been marked by regular consultations and a deep understanding of their business dynamics. Jamie Doyle, in particular, has been instrumental in offering not just financial advice but also insights into people management, time management and the overall trajectory of the business. His role as a sounding board has been invaluable for Katapult Design, enabling them to make informed decisions quickly and effectively.
Results and Impact
The impact of this partnership has been substantial:
Enhanced Financial Stability: Improved cash flow management and financial operations have led to greater financial stability
Optimised Tax Position: Expert tax advice has resulted in significant tax savings, contributing directly to the company's profitability
Strategic Growth: With Collins Hume's strategic financial planning, Katapult Design has been able to focus on their core business operations and pursue new opportunities with confidence.
360-Degree Business Approach
“We’ve been with Collins Hume for quite a few years now, and what started out as seeking out a local accountancy firm to help us with our tax and quarterly accounts has blossomed into something where Collins Hume has been helping us with restructuring our business in recent times, financial management and, more recently, working closely with Jamie Doyle as a CFO effectively.”
“We've got huge benefit out of working on a regular basis to provide detailed feedback on how we're tracking and what we should be thinking about from a financial perspective. It's just really nice to have that sort of advice.” ~ Nathan Pollock, Founder of Katapult Design
Our collaboration with Katapult Design highlights the transformative power of a strategic financial partnership. By providing tailored solutions and unwavering support, Collins Hume has empowered Katapult Design to thrive in a competitive market, ensuring their innovative spirit continues to flourish.
Elevate your business to new heights. Contact Nathan McGrath on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you achieve a better performing business and lifestyle.
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