“Before working with MGA, I never felt completely confident with my accounting. I rarely felt like something was explained 100% clearly to me, so I always had an uneasy feeling in the back of my mind. Once I started working with MGA, it was like night and day. Things really improved across the board, and I gained clarity out of the fog.” — Mark Waller, CEO / Managing Director at Proceanic
Proceanic has been an MGA client for three years now, and the quote above says it all. Before coming on board with MGA, they were lost in a sea of fog. They received conflicting advice, which, when questioned, often changed, and there were many gray areas overall. Past CPA services were “generally acceptable” (pun intended), but Proceanic did not have a tax advocate to think one step ahead for them, to think strategically.
Mark tells us that shortly after working with MGA and Partner Adam Barr in particular, many of those gray areas were picked up on and corrected. He also tells us that MGA helped in other areas where he feels his previous CPA would not have been able to, specifically related to research and tax development credits, employee retention credits, and capital expenditure depreciation.
“Things are a lot more organized, much clearer, and, being truthful, a little more expensive, which is okay because it’s money well spent, as you truly get added value. Overall, I am much more comfortable with where Proceanic is today, relating to our taxes and accounting. Our corporate administrator who runs Proceanic’s bookkeeping is also much happier with how things are going now.”
International Tax Experts: If We Don’t Have the Answer for You, We Promise to Find It
Proceanic has been in business for twenty years, starting as an engineering consulting firm in 2002, providing engineering project management and construction management services to the offshore industry. Later, the company evolved into providing underwater inspection services in addition to the engineering and project management. Underwater inspection now makes up the majority of their business.
Headquartered in Houston, Texas, Proceanic also has field offices in Singapore, Malaysia, and, more recently, Brazil. MGA has assisted in the operations of the two Asian corporate entities and has also been a significant help to Proceanic in setting up the Brazilian entity.
One thing Mark particularly likes about MGA is that we are quick to tell him when we’re approaching our limitations, but we are then able to draw on other resources when necessary. This is a perfect example of that. We are a proud member firm of PrimeGlobal, an award-winning association of independent accounting and business advisory firms located in more than 100 countries. This membership gives us all the advantages of a supersized global firm, with national and worldwide contacts we can reach out to for resources and expertise when needed.
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Mark Puts His Growing, Successful Business in Hands He Can Trust
Over the past few years, Proceanic has gone from being hunter-gatherers to farmers. Clients now come to them first, as they’ve established their brand name and work with large, reputable companies in the industry. When these companies need any type of ROV inspection services, whether it be for offshore oil and gas, offshore wind, or inshore dams and water utilities, Proceanic is their first call.
As they continue to grow in size, revenue, and locations, Mark tells us that he needs an advisor he can trust. He is glad to have found MGA to be just that.
“Adam has an uncanny knack for clarifying questions in my head and giving me guidance. I’m not a financial guy; I’m a technical and commercial guy. My eyes start to glaze over when we talk accounting, and I can rely on Adam to clearly answer my questions when I have them.
Nine times out of ten, MGA is able to answer my question or solve my issue quickly and concisely. That one time out of ten when they can't, they tell me that immediately, but then they go out and find the answer for me.”
Read more about how we work with other global enterprises or how we help other well-respected clients in the oil and gas industry.