To help tyGraph, BDO first migrated its bookkeeping to one cloud accounting program—Xero. This removed duplication and helped streamline the company's financial processes. Because Xero is cloud-based, the owners could access their financial information in a timely manner, from anywhere.
Once their books were improved, they were audit ready. The team worked closely with BDO partner Alex Hardy on the audit process, to meet their goal of selling the business within a few short years. BDO also advised the business on their tax strategy, including international and personal tax issues.
In 2020, tyGraph got serious about their exit strategy and BDO was there to support the deal process. “When we got into the M&A transaction, that’s when we really realized the depth of BDO’s service and its benefit to us,” said Edward Senez, CEO, tyGraph. “Having an advisor who has been involved with our organization—as part of its audit and due diligence processes—has proven indispensable,” he added.
BDO supported the sale process, which included preparing financial and tax information for prospective buyers, as well as legal representation. BDO assisted with structuring a deal that would allow both parties to meet their goals.