When it comes to making key decisions about business, Peter Ford, Managing Director at ITS Trac, knows it’s always worth listening to ags director Peter Squire.
The forward-thinking advice that is the hallmark of ags suits the needs of ITS Trac, a company that has come a long way since it started.
Its origins can be traced back to the 1930s, when Charles Weight realised what he called the “vast potential” of the replacement tractor parts business and formed a Company called Tractor Spares Ltd. This became a specialist in the niche market of bulldozer and excavator undercarriage sales and repairs.
In 2003 Tractor Spares Ltd developed a new business with an Italian company, which they named ITS Trac. Today the company employs around 35 staff. The head office is located in Strawberry Lane, Willenhall, and there are two other depots serving the north and south of the UK.
ags has played an active part in the business since around 2000, a time when Peter Ford was growing increasingly unhappy with the company’s existing accountant. He says: “We felt they weren’t really concerned about our business” and decided it was time to look around for a proactive accountancy firm.
“We came to ags through an in-house recommendation from a colleague who had previously worked with Peter Squire, so we were aware of his calibre. When we looked at ags, we liked what they had to offer.”
ags acts as ITS Trac’s auditors and accountants, producing monthly management accounts that are a key part of keeping the business operating efficiently and cost-effectively. Peter says: “By watching and monitoring the company on a month-to-month basis, we keep our finger on the pulse.”
“Peter Squire and ags are involved in many aspects of the company. We discuss its wellbeing and strengths and when it comes to any major business decisions, we discuss them with ags and take into account their advice, which is always worth listening to. If we have any discussions with our bank or other financial institutions, we always involve ags.
“My experience is that relationships with many accountancy firms can be quite sterile and clinical but that’s not the case with ags. We’ve come to know a number of their staff and although we have a business relationship it has become more than that, which helps us. We know them, we know their capabilities and we trust and rely on them.”
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