High Street Partners vs Other Providers
We are often asked how our approach and services compare with those of other firms. Because the differences are significant and distinct, we hope you consider the following when selecting an overseas service provider.Business Model
Ours is an agile and cost-conscious operating model. We work closely with our client’s headquarters team and we align them with third party overseas service providers from our global pool of qualified CPAs, tax experts, HR professionals and technical analysts. Rather than build a heavy – and expensive – in-house infrastructure, the High Street Partners model allows us to offer our clients greater flexibility and access to a wider range of services at market reasonable pricing.
We are “provider agnostic” – in some instances the right solution might be provided by one of the leading global legal or Big Four accounting firms with whom we work closely, and in other cases, the best fit might be provided by a relatively unknown local CPA firm in Korea. Our goal is to simplify and streamline the process as much as possible, so we provide the HQ team with a single point of contact, regardless of the number of international entities involved. We assess their needs, resources and goals, develop tailored solutions for their implementation, select appropriate service providers and manage every aspect of LSP involvement. All service provider input is regularly reviewed, tailored to the client’s specific accounting calendar(s) and compiled in monthly reporting packages which are delivered to the client after receiving a management review.
Other providers utilize in-house resources from centralized locations, whether or not they offer the most qualified or cost-effective solution, eliminating the benefit of both local market knowledge and market pricing. Ultimately, their clients may get the best talent on the providers’ payroll, not necessarily the best on the market.
HQ Perspective and Orientation
We’ve been CFOs, Controllers, Analysts, Corporate Accountants and HR specialists ourselves, and we’ve established and managed subsidiaries and branches all over the world. That blend of experience gives High Street Partners a unique perspective on the needs and goals of the HQ management team, and our understanding of the issues and challenges companies face when moving into markets around the world helps clients avoid risk and minimize time spend. We are the only provider with this level of client-side experience, and our services and delivery model are a direct outgrowth of our intimate understanding of client needs.
High Street Partners was founded by Larry Harding, a CPA who, over the course of his career, has served as the Corporate Controller and CFO at a handful of successful venture backed technology companies. He also led the international finance team of Ciena Corporation, a Nasdaq listed high profile technology company, as it expanded into nearly 30 countries outside the US. The idea for HSP crystallized during his tenure there, when Larry realized that he wasn’t alone in his need to find qualified overseas resources, and in his reluctance to pay inflated fees for remote third party management services. Frustrated at having to reinvent the wheel every time Ciena entered a new market, he became convinced that there was a need for a different business model – a true business partner for companies moving cross border. He created High Street Partners to be that partner.
Pricing and Partnership
At the end of the day, selecting a professional service provider comes down to a handful of criteria. Most have to do with market reputation, relevant experience and skill level, but there’s also a human component, and it’s arguably the most important. You want to work with people you like and you trust because you feel they have your interests in mind, not providers who overcharge for basic services, over-engineer engagements, require control of your overseas bank accounts so as to pay themselves first every month while passing their own hefty overhead along in your monthly statements.
We think you’d probably rather work with a highly experienced partner with a great reputation for client service who offers top drawer services and market appropriate pricing. When you receive an invoice from HSP, you’re being billed for a tangible service for which you’ve received a real value. Our fees are generally half to one-third of those charged by others, and the vast majority of what we offer is in the form of fixed pricing. We believe that if you cannot trust us to price our services appropriately and fairly, can you really trust us to look after your other interests?
Internal Controls (SOX)
Concern over the implications of the Sarbanes-Oxley Act of 2002 and its impact on the internal controls of private companies is well founded. Even if your international operations are not yet material, your inevitable goal of an IPO or sale to a public company means that SOX compliance is an operating reality you should not ignore. The controls inherent in our approach will be important in any current or future SOX implementation work you may need to carry out. Our pool of local service providers naturally includes those who have been SAS 70 certified and, if SOX compliance is a concern for you, we can ensure that your day-to-day accounting and payroll process partner has that certification.
Clients First
At High Street Partners, we won’t bill you for any service unless and until you receive real value from that service. No agreement with us will ever include a lengthy termination clause (we’ve heard of some as long as six months!). We will never insist on having control over your overseas bank account. We would never violate your trust by paying our own bills ahead of other obligations without your explicit consent.
Core Strength
Our team is a dynamic group of experienced, likeable, responsive professionals, focused exclusively on serving your needs. We’ve based our Account Managers in locations across the US to position them as an extension of your HQ team, and our consulting specialists in the UK, Japan, India and China extend their reach in these critical markets and provide on-the-ground support for our clients in those locations. Our network of Local Service Provider (LSP) partners provides a further extension of this team, operating on five continents in over 75 countries. With High Street Partners you have all the skills and experience in cross-border expansion you could ever need, at your fingertips. We are proud of our team and our approach. We’re flattered that another provider has actively (but unsuccessfully) recruited several members of the High Street Partners team.
Company Reputation
High Street Partners has been on a rapid rise in this growing industry, and after three years we find ourselves with a roster of more than 100 happy and satisfied clients. We believe that our experienced staff, our network of partners and professional advisors around the world, and our dedication to a flexible and responsive operating model makes us an ideal international partner.
