Powerline - Winter 2015

My Say with Paul Hilton

There is a saying “nothing stays the same”, and this is particularly so in business. At Power Tynan, we have recently completed some major renovations within our business. These renovations are not building type renovations, but more structural and operational.

It has been agreed to separate the Morgans part of Power Tynan from the Accounting and Advisory services of our business, allowing them to operate independently.

To our joint clients, there will be no major change as we will continue working together to ensure client goals are achieved, and joint interviews will still be held. The operations in Toowoomba will still be housed at 618 Ruthven Street; however we will eventually have separate entrances. In Stanthorpe, all appointments will remain at 142 High Street.

While mentioning renovations, the Stanthorpe office has had a facelift with the downstairs area being transformed into an open plan layout. This has allowed for greater communication between staff as well as more efficient operations. If you are in the office, please ask for a guided tour!

That is all the news from Power Tynan, but what about you? It has been a somewhat different financial year, where we have seen certain businesses perform very well while other sectors are struggling.

As business owners, it is important to ensure you are ‘on top of’ all parts of your business. This time of year is a time to reflect on the last twelve months and plan for the coming year.

The word disruption is everywhere at the moment, and the ATO itself is causing all businesses to change the way they do things. The changes to date are just the beginning, so it is important to be ahead of the game. Technology is affecting every industry and is moving rapidly. Do not be afraid of the change - embrace it, but do not do it on your own. Join industry groups to see how other firms are handling the change, or attend presentations relevant to your business.

We have been engaged by leading groups to assist in implementing technology and processes to support these changes. It is challenging and sometimes confronting, but after the implementation you wonder what all the fuss was about! Implementing new technology by itself will not help a business - it is vital to carry out a process and improvement review in order to obtain the maximum benefit from the technology spend.

If you need a hand, just ask your adviser - if we can help, great, but if we can’t we will point you in the right direction.

Please prepare for the new financial year and enjoy the challenges all businesses face, as we will be better for it as individuals and businesses, as well as the economy as a whole.


Staff Anniversaries - Winter 2015

This quarter we celebrated the Power Tynan anniversary of Dan Cuthbert, who has been working at the firm for 15 years.

Date & Place of Birth

22nd December in Brisbane


Education

Albany Creek State School, and Pine Rivers High School. Last year I attended the school’s 50th anniversary/reunion. It was great to catch up with some people I had not seen for 30+ years. PS - I started high school very young - I had the best 3 years of my life in Grade 10!

 

Hobbies & Interests

I am kept busy with two adult children, and enjoy exercising - in particular running, cycling, triathlons and the gym.


When did you start working at Power Tynan?

5th June 2000


Why did you apply for a job at Power Tynan? 

I didn’t actually apply. In 2000 I was working as the Westpac manager in Stanthorpe and by virtue of this, I had a relationship with Power Tynan. The bank decided to close 40 branches that year and we were one of them, much to my disappointment. Whilst Westpac was keen to keep me on board and offered me a transfer, my family decided we wanted to stay here in Stanthorpe. Power Tynan offered me a job and the rest is history! I am very grateful for the opportunity they presented to myselfand my family.

 

Why do you enjoy working at Power Tynan? 

I have some great friends and clients at Power Tynan, and really enjoy what I do. I still get a buzz out of telling people their loan has been approved, especially first home buyers.


Client Corner - Street Art Wheels

Each quarter we interview one of our clients to get an insight into their business. This issue we spoke to Therese Strong of Street Art Wheels.

 

When did your business commence?  

Street Art Wheels has been established for 15 years

 

What does your business do? 

Our business specialises in wheels, tyres and suspension, providing both retail sales and service. Street Art supplies all major branded alloy wheels and tyres to suit all passenger, 4WD vehicles and muscle cars. We carry out computerised wheel alignments and suspension repairs via specifically trained personnel.

Street Art is your one stop shop, also carrying out alloy wheel repairs and refurbishing.

 

What makes your business successful? 

We attribute our success to giving our customers exceptional service, and being able to provide them with the product they want, when they need it.

What has been your biggest achievement to date?  

Our biggest achievement to date has been the success of our annual mag wheel mega sale, which we hold in November. This year will be our 8thannual sale, and it gets bigger and better every year. We have our major reps come and set up a display of their latest design wheels for the sale, as well as a car display.

 

What is one piece of advice you would give to someone starting up a business? 

Be prepared to put in the hard yards – listen to what your customers are asking for and be prepared to do that little bit extra for them.

Keep expenses to a minimum and invest the profits back into the business.

 

How do you relax from the pressures of being in business? 

We relax by going to the coast and doing absolutely nothing – as long as there is a beach, waves and sun, then we are happy!

We are looking to spend more time relaxing at the beach, so this could be an opportunity for motivated personnel with automotive interests to move into a well established and profitable business!!


Making a Splash with a Dash of Cash

In March, the Power Tynan Charitable Trust donated $2,500 to Granite Belt Support Services, with the money contributing towards the charity’s campaign to purchase a swimming pool hoist for the Stanthorpe War Memorial Pool. 

The new pool hoist will allow the elderly, people with a disability, or people who may be recovering from surgery or illness, to access and enjoy the pool like able-bodied people. Our donation took the campaign funds above their initial goal of $20,000, topping up the kitty consisting of $8,325 raised by the pool’s swimathon, $5,000 from the Lions Club, as well as approximately $6,000 from St Joseph’s School swimathon.

The hoist, which has been a focus for Granite Belt Support Servicessince 2012, will be placed on the charity’s asset register bound to a service agreement, ensuring that the lift remains a community facility.

The hoist itself will cost $15,000 from Brisbane, with the additional funds contributing to maintenance costs as well as the installation of a ramp at the edge of the pool.

 

 

 

 

 

 

 

 

 

 

 

 

 

Above: Life member of the Stanthorpe War Memorial Pool Peter Jensen, current lessee Michael Smail and Granite Belt Support Services Day & Respite Service manager Therese Crisp accept the $2,500 cheque from Stanthorpe Power Tynan representatives Gilda Brisotto, Amanda Kenafake and Judy Chapman.

Photo contributed by Stanthorpe Border Post



Changes to Toowoomba Client Parking

As you may have noticed, there has been a change to the client carpark in Joseph Street, Toowoomba. There is now a chain across the driveway, meaning anyone parked there will need to enter a PIN in order to exit the carpark.

To enter the carpark, stop just before the chain and the sensors will drop the chain (please note the sensor will only be activated by a vehicle).

To exit the carpark, there is a keypad on a pole at the eastern end of the carpark. BEFORE getting in your vehicle, you will need to enter the PIN (which can be obtained from reception when leaving our office) on the keypad to drop the chain. You will then have 2 ½ minutes to exit the carpark before the chain will rise to its original position. Please note the sensors will ensure the chain does not rise when a vehicle is driving over it.

If you have any queries regarding this system, please speak to your adviser or the reception staff.

 

 

Vale Jean Harslett

Last month, we said goodbye to one of Power Tynan’s original clients, Jean Harslett.

Morwenna Jean Harslett died peacefully on the 22nd May 2015, in her 90th year. Jean’s passing is not only a loss for her family and friends but also for the Granite Belt district.

Jean, as she was known was born in Stanthorpe and grew up on the family orchard at Glen Aplin, with her parents Alexander and Morwenna Gemmell and her younger sister Dorothy.  Jean's father had a great interest in insects which he passed on to Jean at an early age. Her mother was very artistic - a talent which found expression in Jean’s keen photographic eye.

Jean attended Glen Aplin School and later completed her education by correspondence. Her comprehensive knowledge of the flora and fauna of the Granite Belt was gained though a natural curiosity and understanding of her surroundings. Entomology was her foremost scientific interest in which she became an authority on buprestids (Jewel beetles) with several species named after her. Much of her life long collection has been donated to the National and State museums.

In 1951, Jean married Bob Harslett and moved to a vegetable farm at Amiens. Alec, Morwenna and Susan were born in the following years. Jean enjoyed sharing her interests with her three children, seven grandchildren and in her final year was delighted by the birth of her first great grandchild. While rearing a family and helping on the family farm, Jean involved herself in many organisations in the Stanthorpe district. Jean was a founding member of the Stanthorpe Field Naturalist Club and Stanthorpe Camera Club. Her interest for her natural surroundings and her belief in the importance of maintaining them for future generations was instrumental in the establishment of Sundown National Park and the extension of the Girraween National Park. With the efforts of Jean and other members, the Stanthorpe Camera Club was able to host two successful international photographic salons.

Both Jean and her late husband Bob were active in encouraging young farmers, being advisors in Rural Youth over a period of 25 years. They were the host family for many foreign exchange students through the organisation: Agricultural International Exchange Association – from the mid-sixties until current times. Rotary was also an organisation where they could support and encourage people and projects both locally and around the world. Their interest in people was also reflected in a lifelong association with Stanthorpe Meals on Wheels. Jean really enjoyed chatting to elderly people while delivering meals.

In her later years, Jean took an enormous interest in the history of the Stanthorpe District. She was co-author of "They Came to a Plateau" and at least six other history booklets of local schools and organisations. Perhaps the countless hours of research at public libraries and gathering information from locals strengthened Jean’s resolve to further develop the Stanthorpe Museum. Today it houses the Jean Harslett Research Room, which is a tribute to the work Jean has done for the museum for the benefit of others who wish to research local history.

Jean has indeed contributed to so many clubs and touched so many people in the Granite Belt, being an authority on all facets of natural history and local history. Her outstanding contributions to the community have been recognised with: an honorary life membership of the Queensland Entomological Society in recognition of contributions to field studies; inclusion in the book "Brilliant Careers of Queensland" for her contribution to Natural Sciences–  this  book was launched by the Queensland Museum documenting the lives of 50 women and their achievements over 150 years of the development of State ecology; Queensland Naturalist Award in recognition of her contributions to, and observations of the State’s Natural History; Fellow of the Royal Historical Society of Queensland in recognition of her contributions to Regional Histories; Lions District Governor Bicentennial Community Service Award; British Empire Medal for services to her community; Rotary Paul Harris Fellow; Rural Youth Silver Plough Award in recognition of 25 years as Advisor to Rural Youth; and a Granite Belt Australian Day Award for civic contributions.

Jean has been actively involved and contributed significantly to many charitable organisations, service and special interest clubs in the Stanthorpe area over her lifetime. All of these passionate pursuits have been on a voluntary basis with unquestionable benefits to her community. Jean has certainly etched her name into the annals of the Stanthorpe district and its people - she will be missed but always remembered. Jean is survived by her three children, Alec, Morwenna and Susan, seven grandchildren and one great grandchild.

Power Tynan Charitable Trust - Donation to RSPCA

Zoe Black and Cassie Walker from RSPCA recently visited our Toowoomba office to accept a $2,500 cheque from the Power Tynan Charitable Trust. They also brought along an extra special visitor – Nixie, a cute four-month-old puppy that most families would love. Sadly, she is one of about 1,500 animals for which the RSPCA in Toowoomba needs to find new homes every year.

"We are delighted and surprised by this generous donation," said Zoe Black. "It will go a long way to supporting our Toowoomba shelter. It is so sad that we continue to have to find new homes for unwanted or abandoned pets."

Our Trust donated the funds to the RSPCA's Second Chance program to provide shelters at the society's Toowoomba facilities.

"The donation will provide both a cat and dog enclosure," said Zoe Black. "We will display the Power Tynan name on the shelters and the team will receive regular updates about the animals staying in those enclosures.”

"The shelter has to find new homes for 1,500 animals every year and it is an expensive operation, costing us more than $300,000 a year.”

"Hopefully Nixie will not need to stay with us for long and she can find a wonderful new home. Anyone looking for a new pet should visit our 'Adoptapet' web site."

The staff of Power Tynan vote to select the charities the Trust will support, and there was an overwhelming response to RSPCA this quarter. Everyone was delighted that Nixie came along for the presentation – she melted the hearts of many staff members (especially the boys!)

The Power Tynan Charitable Trust has donated more than $100,000 to regional charities over the past four years. The Trust is open to the firm's staff, clients and all members of the public to provide funds. To donate, simply go to the Community section of this website.

 


Unleashed - Introduction to Just-In-Time Inventory

Just-In-Time (JIT) inventory is a method of inventory management aimed at keeping inventory costs as low as possible. Using electronic inventory control systems, various triggers and monitoring can be built in to the production or sale process making it possible for businesses to keep a bare minimum of stock or materials on hand. When the next part or product is required, it is ordered to arrive ‘just in time’ enabling an efficiency and cost-minimisation not possible when holding excess stock or materials. 

Just-In-Time gives businesses far more control over manufacturing and an ability to adjust quickly to customer demand, ultimately enabling lower costs and higher profits. While there are some businesses not suited to using Just-In-Time it is, as a general rule, beneficial and now widely used.

In order for you to judge if it is a viable and beneficial model for your business, let us take a closer look at the main features. 

The Benefits of Just-In-Time Inventory

Less Tied-Up Capital

Like inventory control in general, one of the main benefits for your business that Just-In-Time offers is the reduction of tied-up capital. Inventory kept to a bare minimum is an efficient and cost-reducing method, providing that management and demand forecasting are accurate.  

Instead of money tied up in excess stock, parts and obsolete products, Just-In-Time allows for real-time, intuitive inventory management. This means that your business can follow trends and demands with considerably less investment in unpopular or rarely used parts and products.

Low Cost Warehousing

Using Just-In-Time methods, businesses can keep their material storage and stock-on-hand costs low. The storage space previously used for stock and materials can be freed up for other uses. For new businesses that start up with this model in place, warehouse space can be greatly reduced from the outset. Also, the costs of insuring inventory can be effectively minimised.

Greater Control and Efficiency 

All businesses want to have the greatest amount of control possible over inventory costs and the efficiency of production or ordering of products. Just-In-Time provides one of the best ways to do this and is so well used by some companies that finished products or items for resale are only ordered once a sale has been made. This allows businesses to better match and adjust to customer demands. With less materials and products on hand, capital can be used more efficiently and trends can be kept pace with intuitively and effectively. When Just-In-Time is implemented correctly, the need for excess unsold stock or materials is greatly reduced.

Lower Costs Passed Forward

For some businesses, the lowering of costs that Just-In-Time enables means that products can be sold to customers cheaper or savings used to increase business or profits.

Are There Any Downsides?

When used well and implemented via electronic inventory control and management systems, the downside of the Just-In-Time model is largely limited to incorrect forecasting, system glitches or delivery and transportation problems. These can be ironed out through good planning and the use of effective inventory control software, ideally one that utilises SaaS (software as a service) and cloud technologies. Choosing the best software for your business is now a relatively painless process. Find the one that offers the best features, support and integration for your company’s needs such as Unleashed Software.

 

Staff Spotlight - Winter 2015

The Next Big Thing Summit

In April, members of our team attended The Next Big Thing Summit in Melbourne.

This conference was aimed at business leaders who want to understand how ICT and emerging digital technologies are transforming the future of work and life, disrupting industries and creating massive new opportunities for business innovation, product development and customer engagement.

It was great to hear from those doing the disrupting - the people and companies that are creating and pioneering the use of these technologies today – and to prepare for the future.

Here, our CEO Paul Hilton and Practice Manager Dan Beck are swimming without even getting we

AustralianSuper Corporate Triathlon

Power Tynan entered seven teams to compete in the AustralianSuper Corporate Triathlon, which was held on Saturday 2nd May at the Gold Coast. Each participant was required to complete a 400m swim, 10km bike ride and 4km run.

The Gold Coast experienced cyclonic weather leading up to the weekend, but turned on some absolutely perfect weather for the day of the event. Congratulations to everyone who participated!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Social Club

The most recent Social Club outing for Toowoomba staff was an interactive dinner at The Sauce Kitchen with chef Tony Ching. Staff prepared shepherd’s pie, lamb tagine with date cous cous and a hot vegetable salad, with delicious crepes for dessert. A great time was had by all, and nobody lost a finger (or an eyebrow!)


  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Biggest Morning Tea Bake Off

To raise money for our Charitable Trust, Power Tynan held a Biggest Morning Tea Bake Off during the month of May. Staff were put into teams, and each member of the team brought along one homemade dish on their allocated Friday. All staff were asked to vote for their favourite morning tea dish by donating towards that particular item. At the end of each morning tea, winners were named based on the amount of money raised for each dish. At the end of the month, the place getters from the previous weeks battled it out to take home the prize of Power Tynan’s Best Baker.

Congratulations to Racheal Hendry, who took out the prize in Stanthorpe with her yummy Carrot Cupcakes, and to Aimee Driemel who blitzed the Toowoomba Grand Final with delicious Potato Skins.

Altogether we raised a grand total of $722.85, which is a phenomenal effort!