Client Story: Vertex Power & ProcessAugust 5, 2019
Oreon Partners has worked with Vertex Power & Process since October 2017. A uniquely diverse company, the business was originally founded in 2014 and has two separate branches of service: Vertex Power & Process, which provides powerline services and industrial power solutions across western New South Wales and South Australia; and VTX Group Services, which is a water services and pump repair/retailer business.
Vertex initially came to Oreon Partners seeking advice on how to manage and track their growth via better reporting systems and software. Their expansion and trading conditions were complex, in part due to their success – they had experienced a rapid increase in turnover and were seeking advice with staffing management – as well as job management and tracking. They also had to be agile in responding to the mining peaks and troughs in Broken Hill and surrounding areas.
In the beginning, both areas of the business were trading under Vertex Power & Process Pty Ltd. Based on the company’s growth and potential future needs, Oreon Partners assisted in separating the pump business from Vertex using the small business CGT rollover concessions. This enabled the company to have separate identities for any future succession planning, for buyouts or sales and for asset protection.
Separating the two businesses allowed Oreon Partners to monitor each division with more care and identify any underlying issues. Upgrading their systems from MYOB to Xero and SimPro allowed for better management and tracking of jobs resources and the profit percentages made on each job, as well as enabling more detailed reporting and up-to-date information for business decision making. To help future-proof the company and prepare for additional expansion, Oreon Partners assisted Vertex in setting up an SMSF and doing a careful review of the company’s insurances.
Vertex now has the right tools to enable the company to monitor their business, make decisions in real time, and ensure they have the right asset protection and risk minimisation for the long term. We look forward to helping them on their continued path to success.
To learn more about Vertex visit http://vertexpp.com.au