-
Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
-
Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
-
Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
-
Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
-
Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
-
Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
-
Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
-
Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
-
Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
-
IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
-
Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
-
Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
-
Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
-
Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
-
Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
-
Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
-
Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
-
Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
-
GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
-
International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
-
Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
-
Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
-
Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
-
Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
-
Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
-
Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
-
Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
-
Cloud services
Our team is led by cloud business experts who tailor services to the needs of your organisation, from strategy and implementation to ongoing services assurance.
-
Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
-
IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
-
IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
-
Organisational & cultural change
The key to sustainable and future growth is a unified organisation operating within a strong cultural context, where transparency and communication are the priority for Kaimahi, and where visible leadership means walking the talk – but where does that journey begin?
-
Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
-
PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
-
Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
-
Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
-
Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
-
Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
-
Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
Welcome to the first edition of the Grant Thornton Procurement Index which analyses the buying conditions facing businesses.
The FY2021, Q4 index does not paint a pretty picture about the current business environment. The inflationary pressures in the New Zealand economy are well documented, and these are clearly evident in the indices we track. Most notably, businesses are struggling to cope with soaring shipping costs and a challenging labour market. Costs continue to mount for companies and, based on our analysis, aren't going to slow down any time soon. Interest rates remain low, and New Zealand’s monetary policy belt is only just starting to tighten, so inflation is likely to remain an issue in the year ahead. Put simply, businesses are facing increased costs across the board, and they need to be ready to weather this storm.
Some organisations might feel compelled to take an axe to their balance sheet, but this could reduce the quality of your products and services, and damage morale internally within your company. Just as many countries learnt during recovery efforts following the global recession, sometimes a bit of investment can go a long way. Our economic context, with low interest rates, could be a good time for businesses to rejuvenate themselves with a fresh coat of paint, rather than batten down the hatches. Times like these are ideally suited to reviewing where your business is at, adjusting your strategy and processes, and looking to conduct business in new and innovative ways. Think about retooling your business models and approach to markets, while looking to maximise your company’s strengths and patching up its weaknesses. Now is also a great time for businesses to look at re-engineering and building resilience within their supply chain - possibly through avenues such as multi-sourcing and utilising more domestic production. Given the finance options available, now is the time to be bold and invest in truly innovative supply chain solutions.
Index categories and analysis
Interest rates: 90 day bank bill rate
Interest rates have started to slowly creep back up, and the Reserve Bank appears to be tightening its belt on the monetary policy front. Market commentators expect interest rates to gradually continue to rise, with some pointing to a year of continued hikes.
Fuel: Crude oil (USD)
The Dubai crude oil index, one of the three major crude oil indices, has continued to track upwards since an initial drop at the beginning of the Covid-19 pandemic. Despite international pressure, OPEC members seem unwilling to increase oil supply to the market, signalling that prices are likely to remain high for some time.
Wholesale power: Final prices
Energy generation has been in the news for all the wrong reasons, and it appears that this could continue in 2022. Meridian, New Zealand’s largest power company has stated that wholesale prices may remain high for some time, primarily fuelled by gas shortages. This has placed a lot of price pressure on some of their larger commercial customers.
NZD exchange rates: USD average monthly
Interest rate increases have buoyed the value of the kiwi dollar somewhat, but the market is displaying a degree of uncertainty as it awaits possible interest rate increases from the Fed. This, combined with inflation related volatility makes the exchange rate environment an exceptionally variable one for firms to traverse.
Employment rate
Unemployment plummeted to its lowest level since 2007 in the June quarter, placing immense labour cost pressure on firms across the economy. Immigration restrictions have exacerbated the labour shortage facing businesses, and this means labour cost pressure is likely to continue for the foreseeable future.
Global container freight rate index
Labour shortages, rising consumer demand and Covid-19 related supply chain disruptions have wreaked havoc on international shipping markets - a situation only worsened by events like the Ever Given's blockage of the Suez Canal. Analysts expect these high prices to remain firm in 2022, meaning this is likely to be an ongoing pain point for businesses.
What the Procurement Index is telling us
Interest rates, exchange rates, fuel, power, labour market costs and shipping costs form the foundation of any businesses’ expenses. The last 18 months have been unprecedented, both in terms of the pandemic and our economic performance. The index reflects this.
Spurred by never-before-seen levels of monetary policy stimulus, New Zealand seems to be in the midst of an economic sugar rush - one that is spiking the inflationary environment, and creating a difficult and uncertain business environment for kiwi firms to traverse. Almost every component of the index seems likely to continue to rise, signalling that the index could continue its march past the 90th percentile mark, and into previously unseen territory.
What will these conditions mean for Kiwi businesses? The long-term picture remains unclear, but in the immediate term, companies need to be aware of the increasing costs that they will be facing in the coming months and plan their business strategy accordingly.
Index categories
The Grant Thornton Procurement Index equally weights the six economic indicators below based on their relativity to historical levels. A comparison of these components shows the relativity of the cost indicators to their levels back to 2018.
Unprecedented shipping, power and oil costs continuing an upward creep, and increasing interest rates suggest that businesses are facing continuing price increases in all areas of their expense account.
Almost every pressure we measure is showing strong upwards growth, and most of them are predicted to continue this trend. It seems likely, therefore, that the index will continue to show strong upward growth not only for the end of 2021 but well into 2022.