Phil Bessant

Highlighting best practice as a representative in The Parliamentary Review

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Phil Bessant is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

www.philbessantltd.co.uk

THE PARLIAMENTARY REVIEW
Highlighting best practice
20 | PHIL BESSANT
Managing Director Phil
Bessant
Phil Bessant Limited is a firm of chartered management
accountants based in Newport, South Wales. Founded
in 2012, Phil Bessant employs two ACCA-qualified
managers and is a platinum accredited trainer for ACCA. Phil
Bessant’s qualified personnel boast almost 50 years’ combined
experience in both industry and practice, and their committed,
honest, timely, quality service is backed by a complete delight
guarantee. Managing Director Phil Bessant explains what makes
their service different, and he discusses how they are helping
their clients embrace the digital age.
We are different because we combineCIMAandACCAqualifications to ensure the
best possible service. We prepare information that not only meets external statutory
reporting requirements, but more importantly is in a readily understandable format,
with key performance indicators highlighted. We are committed to being honest,
on time and loyal, consistently achieving better standards and nurturing lasting
relationships.
Our service is built on a friendly and approachable team, a reliable service, an
accessible process and an understandable approach. All of our fees are agreed up
front and our clients aren’t charged every time they phone us to ask a question.
We have a range of payment options available to all customers and all our work is
turned around quickly, with a 30-day guarantee on initial preparation work. Lastly,
we look out for our clients, offering them a high-quality service and putting their
needs before anything else.
Our journey
My years in the industry have enabled me to gain the skills that make up the
backbone of the service we provide clients. In 1994, we took the step to set up
a practice that assisted the local community to grow their own businesses, and
to better understand their financial position. Many of those early clients are still
with us today and we have been able to build close personal relationships with a
number of them. Our ethos is deliberately set out, so that our staff treat all our
partners equally and in the same way that they would expect to be treated. This
remains true, be they staff, clients, suppliers or other partners in the business.
Alongside Karen Bessant, my fellow director, I formed Phil Bessant Limited in April
2012, and we still employ the two managers that left their previous practice to help
us develop the new business. These managers are encouraged to develop clients of
their own, in the philosophy of PBL.
We pride ourselves on both the reporting skills we offer clients and the wider
community work we perform. Since 2013, we have adopted St David’s Hospice
AT A GLANCE
PHIL BESSANT
»Managing Director:
PhilBessant
»Founded in 2012
»Based in Newport, South
Wales
»Services: Chartered
management accountants
Phil Bessant
21PHIL BESSANT |
BEST PRACTICE REPRESENTATIVE 2019
as our nominated charity, and we
recently achieved our target of raising
£50,000. With recurring events such
as cheese and wine evenings, golf
days, race nights, quiz nights and
beer miles, we can give something
back to the community, while also
building relationships with clients and
potentialclients.
Developing our service
Like most firms, the drive towards
digitalisation is very important for
us and when you consider that the
majority of our client base are small to
medium-sized family businesses, it is
easy to anticipate that the transition
may not be a simple one.We have
recently restructured our team into two
distinct facets to enable us to deliver
sustainable growth for our clients
– advisory and compliance. Nicola
Yoxall has headed up our compliance
team, and within 15 months she has
helped around 80 per cent of our
clients transfer over to new digital
software. Rebecca Elkins has started to
develop the advisory side further, by
ensuring that all our clients receive the
reporting detail that will best suit their
development stage.
We offer a benchmarked service,
tailor-made for our clients, which
consists of a software-driven service
menu from which clients can select
the service and level of service they
require – we have a platinum, gold
and silver service, which are based on
client requirements and affordability.
In many cases, they start at gold or
silver and very quickly progress to
platinum once they see the success of
the earlier systems. We also constantly
monitor clients’ performance against
key performance measures that are set
out and agreed when finalising annual
statements.
We have worked hard towards
becoming our clients’ respected
adviser and the place they turn to
when they encounter issues. To this
end, we have developed working
relationships with local providers
of financial, legal, banking and
employment services, so that members
of 2020, Peak and AVN have access to
resources a firm of our size could not
expect to deliver.
In order to ensure our clients are able
to meet their goals, both business and
personal, we have recently appointed
our own intermediary barrister, who
works with the Legal Services Guild
in order to offer estate planning and
legal support. Emma Bessant, our
marketing manager, ensures every
client is treated well and feels valued,
whether in person, on the phone or
via email. Emma’s marketing work
enables us to go further for our client,
by offering a personalised drinks menu
and welcome message on arrival, as
well as birthday cards that show we
care about the people and not just
thebusiness.
Phil Bessant Limited offers a tailored,
personalised service that is aimed
at ensuring all of our clients work
towards achieving a balance between
their work and personal life. From
my own experience, this is a difficult
balance to strike and I want our clients
to enjoy their family and personal
achievements, while not feeling
constantly tied down by work.
£50,000 raised for
charity
We offer a
benchmarked
service, tailor-
made for our
clients, which
consists of a
software-driven
service menu
from which
clients can select
the service and
level of service
they require

www.philbessantltd.co.uk

This article was sponsored by Phil Bessant. The Parliamentary Review is wholly funded by the representatives who write for it.