What's in a Name?
                     What's in a Name?
Over the past 18 months, Cornerstone Group 
Australasia Pty Ltd has gone through a significant 
amount of change. The business is now 8 years old, 
things that worked well 8 years ago were due for 
review to make sure we operating at 'best practice'. We 
have reviewed every piece of software that we use to 
ensure that it is the best in it's class, we have reviewed 
every process to ensure that it is both efficient and 
effective; we have assessed every team member for 
skills and competency and their passion to help the 
businesses that we work with.
The next step in this process of change is the name. The 
name Cornerstone Group Australasia says nothing 
about what we do (and the URL on our email is 
ridiculously long), so we have come up with the name 
iKeep.
We will formally be changing the business name on 
the 31st October 2019.
Our ABN, and all other company details are remaining 
the same.
It can be viewed as a play on words: "I keep your books 
and records up to date", "I keep you compliant", or it 
can be viewed as a statement of what we do iKeep is 
short for "I do bookkeeping".
Our new icon has been designed to be a folded receipt, 
in the shape of a 'K'. You'll see this across our social 
media platforms and other locations where a square 
icon is appropriate to be displayed.
What's important in this journey of change is the 
lessons that we have learned along the way...
Understanding what matters to our customers
Our customers want a bookkeeper they can trust. Trust 
in our industry means that you can expect to be chased 
when a deadline is approaching, trust that transactions 
are recorded correctly, and financial reports that can be 
used to make decisions on.
Measure what matters
We needed to figure out what the key metrics for 
success were in our business. What were the things 
that we needed to do that would ensure our customers 
were always happy and our business was running 
smoothly. Some of the metrics we identified were:
• On-Time Lodgements. We have regular lodgement 
deadlines with BAS, IAS. Whilst there are a few of our 
customers that are hard to contact, for the most part 
we have control over this metric, and it's an 
important one. We can't lodge unless bank 
reconciliations are up to date and we are confident 
that the numbers in the reports are correct.
• Management Reports out by the 15th. Some of our 
clients have quarterly BAS lodgements - but it's our 
philosophy that management accounts should be 
circulated by the 15th of each month. Yes, we believe 
in the real-time dashboards in Xero, and all of our 
clients have their Receivables and Payables records 
updated daily, but the rigorous month end process is 
still necessary to ensure that all the accounts are 
showing the right numbers.
• A sub-set of the above is being able to report on 
which of our customers have received their 
management report. Previously, the business was 
setup to use Asana for task management and this 
sort of report was not available. We made the move 
to KarbonHQ and this level of reporting is available 
at our finger-tips, and LIVE!
Consistent quality
Figuring out how to deliver consistent quality product is 
fundamental in what we do. Quality of work has a large 
affect on reputation, which is directly correlated to our 
growth. Here are some insights that we learned along 
the way...
• Automate anything that is repetitive. Most 
businesses have regular transactions every month, 
whether is rent, the phone bill, wages - all of these 
transactions should have a rule setup that codes 
them to the same account, with the same GST 
treatment every single month so that it takes no time 
to process.
Monthly two-step reviews. Before any reports are sent 
to our customers, they go through our two-step review 
process. This includes a peer review, because it's handy 
to have a fresh set of eyes review the work that you've 
been closely involved in, as well as a managerial review 
for the high-level assessment of "does this look right?"
If you have any questions about the change, don't 
hesitate to reach out and speak with us.