When US company Adaptive Insights acquired Australian-based MyDials, they found themselves facing significant challenges. They needed an accounting partner with experience in multiple tax jurisdictions who could offer exceptional service and turnaround to support the fast growth of their business.
Adaptive Insights is a rapidly growing Silicon Valley business that provides a fully integrated cloud platform for corporate performance management and business intelligence. Founded in 2003, they have been ranked multiple times as the number-one fastest-growing company in performance management on the Deloitte Fast 500.
As part of their growth strategy, Adaptive Insights acquired Australian-based MyDials in August 2012. With only 17 employees and nine customers, the new Australian division lacked the financial experience now required of their international parent company. Despite appointing an Australian accounting firm to support them in their early days, they struggled with their inexperience of the US GAAP requirements and the drawn-out response times accentuated by the time difference.
Cameron Barber from MGI was recommended to Adaptive Insights and was engaged to help the head office team correct the Australian division’s accounting and tax management.
