Environmental Sustainability

Strategy 2025 Delivery

In early 2021, PrimeGlobal Strategy 2025, a five-year plan, was completed after conducting the largest stakeholder consultation ever done, with 90%+ member firms providing input. It shapes how PrimeGlobal will secure a vibrant future for member firms by fulfilling the association purpose, vision, and mission, while remaining true to PrimeGlobal values. One PrimeGlobal – PrimeGlobal will operate as one global association, delivering a globally consistent, relevant, and increasingly customized experience for member firms. PrimeGlobal thinks globally to ensure member firms have access to the best support and practices wherever they are, and to deliver services to the same high standard. PrimeGlobal will act regionally and nationally, to ensure services are relevant to unique markets.

Purpose

Enrich member firms through facilitating connections that create trusted relationships, learning, promoting business opportunities, firm development, and growth

Values

•Share •Innovate •Collaborate •Celebrate •Learn

Vision

Leading global association of trusted business advisory and accounting firms

Mission

PrimeGlobal is a center of excellence, with a forwardlooking community that business can rely on

Strategic Themes

Association activities are grouped in five strategic themes to leverage PrimeGlobal’s unique diversity and competitive position, providing member firms with value that is most relevant to them.

•Connect Our Community •Share Our Practices •Focus On Our Quality •Deliver Long-Term Growth •Build Our Reputation

The Strategy defines the outcomes to achieve by 2025. PrimeGlobal remains focused on all themes each year of the Strategy, however, investment in key initiatives supporting themes is phased over the five years.

Performance for the year June 1, 2021 - May 31, 2022, is summarized in this report. The achievements and targets for 2021/22 have been aligned to the strategic themes to provide consistent comparatives as the second year of Strategy 2025 begins in 2022/23. During year one of the five-year plan, significant progress was made. The foundation of the Strategy is the Association Management System (AMS), which is on schedule to both plan and budget. The priority of the AMS is to maximize connections,both in person, and virtually across all levels and professionals in member firms. The AMS project officially launched in January 2022, with the selection of the vetted contractor. This initiated massive data transfer including membership information, detailed explanations of PrimeGlobal processes, event creation, Special Interest Groups, the Peer Request system, CPE administration, Alliance Partnership tracking, and related accounting processes. The PrimeGlobal team have been trained on how to use the new system and are currently working on integrating the member experience and association value into the AMS with the existing PrimeGlobal website, such as submitting firm articles and news, event registration, and member search. Over the first half of 2023 functionality will be transferred to the AMS to create the foundations that will be extended to provide more value. The longer term impact of the AMS for PrimeGlobal member firm value and both group and individual interaction, cannot be overstated. PrimeGlobal staff efficiency and data analysis will also be greatly improved. It will provide a foundation to deliver our strategy by enabling professionals to connect and share in ways relevant to them and their firms.

2021/22 Performance Results

PrimeGlobal’s Executive Management Team (EMT) evaluates performance indicators that are developed by staff committees and agreed to by the entire global team. These indicators align to the strategic themes in Strategy 2025, which is supported by the Board, the Regional Councils and membership at large. The ambition is to ensure members connect and collaborate, thrive by attracting and retaining target clients, and deliver quality advice and services. In 2021/22, despite the Private Equity influence on the accounting industry, catastrophic world events, the talent shortage, and the Great Resignation, measurable progress was made in delivering the roadmap.

18/19 19/20 20/21 21/22 22/23

Of particular note, is PrimeGlobal’s growth. By and large, member firm revenue grew exponentially by increasing service offerings and leveraging technology.