What do our clients say about us?
Case 1: Dialog Semiconductor
MANAGING EXPLOSIVE GROWTH
'We speak the same language and are on the same wavelength' - Ton van Gemert, internal audit manager
Dialog Semiconductor is experiencing explosive growth. Even though we reached the 1 billion dollar turnover last year, the top does not yet seem to be in sight. Internal Audit Manager Ton van Gemert: In all kinds of ways we are outgrowing our current situation. So now is the time to optimise our internal processes. BDO's commitment helps to achieve this.
For more than five years Dialog Semiconductor has been growing at a rate of about 20 to 30 percent per year. Resounding figures that demand a lot from the organisation's management capacity. We experience growth on all fronts and all over the world', according to Van Gemert. Not only due to increased demand but also because of product diversification resulting in a greater need for technical personnel. In order to retain our innovation top spot, we placed a strong emphasis on recruiting the very best engineering talents in fifteen countries.
Growth and management
As an organisation we want to be prepared for anything because we are continuing to grow, for example, through acquisitions. This is why there is a strong focus on managing risks and improving internal processes. BDO understands us very well, which means together we quickly decide on what plan of action we are going to implement.
We work together with BDO in various areas, including outsourcing and internal audit. Each year we plan the audit activities in a combination of internal and BDO resources. Our audit activities involve the regions of Europe, Asia and the USA. Using local BDO resources is practical, in view of different time zones and travelling time. But working together with a network organisation also has specific benefits. There is more knowledge on the ground. Not only in respect of laws and regulations but also concerning our industry. This is particularly noticeable in the USA and in Taiwan where BDO has built up extensive experience in the semiconductor industry. BDO also supports us in the further professionalisation of our internal management, so that we are ready to realise our growth ambitions.
Understand each other
BDO is a sounding board we can quickly engage with. They complement us where we ourselves lack expertise, and at a personal level we are a perfect match. Because we speak the same language, we understand each other and are almost always on the same wavelength. It is nice to have BDO's hands-on mentality in this phase of our growth. Attention to Internal Audit and a separate Risk Management function are relatively new to our organisation and that requires our employees to think differently. We face this challenge together with BDO.
Case 2: AMSTERDAM COMMODITIES
HANDS-ON COLLABORATION WITH A LISTED COMPANY
'BDO is more than an external adviser' - Erik Rietkerk, CEO Amsterdam Commodities
The originally Dutch company Amsterdam Commodities is internationally very successful. The company trades, processes, distributes, purchases and sells food commodities and ingredients for the food industry and realised a turnover of 620 million in 2014. CEO Erik Rietkerk: 'From three offices we have grown into a small cap with a nice portfolio.'
BDO brought professionalism to our organisation. They ensured that all operating companies use efficient and streamlined processes. In addition to the role of auditor, BDO has been fulfilling the role of sounding board and adviser.
'Amsterdam Commodities, with offices in 13 countries, does business in approximately 90 countries, including exotic locations such as Kenya and Indonesia. So it is nice to have an international partner with their own people in various locations. The BDO global network ensures that they have local expertise in the field of taxation, governance, risk management, auditing, etcetera. They also have a good sense of the local culture. We operate in difficult countries, where corruption and fraud may cause problems. They knew where to look and for the audit function we totally relied on BDO.'
Implement risk management and governance
In a sector where prices and quality of products vary greatly, the subject of potential risks is high on the Supervisory Board's agenda. Rietkerk: 'Ultimately, they are no food safety experts, but within BDO they do have a lot of expertise in risk management. They knew what risks there are, and how you can identify and litigate these. The next step is to control them. How do you safeguard risk management in the organisation? The same applies to governance. With the stock exchange in mind, BDO was very strongly focused on the Netherlands Authority for the Financial Markets(AFM), the Governing Board and the Supervisory Board. They did not only test and advise on improvements, they helped to implement them.'
'In a collaboration you are very dependent upon the group of advisers that work for you. We have had a long collaboration with a team that hardly changed in composition. BDO's hands-on mentality was evident. Not just talk the talk, but walk the walk. Not too formal. My experience with other auditors outside the Netherlands is different, I miss that hands-on approach.'
'Our growth was in part made possible by BDO. To me they are a sounding board and a colleague. An external adviser is very often someone who provides a report, gets his coat and goes home. BDO does more.'