Limerick Business Leader: Accountancy firm with outsourcing at its very core

Tell us a little bit about DSB:

I set up DBS was set up in January 2017 with a chap called William Duggan. We would have worked together for 15 years in a couple of the top tier accountancy firms in Limerick so we decided to go it alone. We saw a gap in the market for outsourcing, which does seem very popular with SMEs in particular these days, as it avoids the cost of having to hire internally and allows them to access a bit more expertise and experience in the area. We’ve been delighted with how it’s gone. We are up to 12 staff in the Limerick office in Henry Street. We have had a great reaction from our client base whom we would have worked with previously so we are delighted. We pitch ourselves as a one-stop shop for all clients’ needs. In addition to outsourcing, we offer advisory tax planning and statutory account preparation. So we are unique, compared to other firms, in that we have add-ons.

Tell us about your recent acquisition:

Just two weeks ago, we closed out an acquisition of another retail outsourcing firm in Cork. They were previously known as Brookfield Retail Outsourcing. We were really delighted to do a deal to acquire that business. We now welcome 23 new colleagues into DSB, based in Cork. They are the gold standard for grocery retail outsourcing which is an area we target a lot. We’d have a large concentration of clients in grocery retail so we were delighted with this.

What does your role entail?

I am the co-founder of the company. My day to day role is very hands on, dealing with clients. All our client base, particularly in grocery retail would have a lot of issues day-to-day. My day to day role is direct interaction with the clients. It’s what I enjoy.

Where were you born and raised?

I am a Limerick man, born and reared. I grew up in the South Circular Road, an area I have been all my life. I have tended not to stray too far from home. Why would you when you’re in Limerick? It’s the best place in the country. I live with my wife Niamh and two daughters Carrie, 10 and Alice, 7.

What is your educational background?

I would have completed my secondary education at St Clement’s College here in Limerick. I then went to the University of Limerick where I completed a bachelors in business studies. I qualified as an ACCA accountant shortly after college.

How did you get to where you are today?

As soon as I finished college, I moved into working in practice here in Limerick. I spent 20 years working in practice, working in some of the bigger top-tier firms. Myself and William met in corporate finance. The last six years, the majority of my time has been spent working with Musgrave’s in Cork, with its retailer base. I got a bit of industry experience which was hugely beneficial, to see the other side of things. It led me to where I am now, in a company which targets grocery retail outsourcing which would have grown from the experience I had in Cork.

What made you go into business alone?

Having spent so long in Musgrave’s, I felt there was an opportunity in grocery retail outsourcing. It’s a very unique and niche area and I think with William and my combined experience, there was an opportunity to go after that niche area, and the fact we could add on advisory services, we felt we could put together something that just wouldn’t be there in the outsourcing market. Thankfully we have been proven correct!

What are your goals for the next 12 months?

We need to integrate our teams in Limerick and Cork. We do intend recruiting between seven and 10 new staff across the offices. And to continue to grow the services and the product offering, to merge them and offer the best product to the market. In terms of recruitment, we have been working with the Limerick-Clare Education and Training Board and we were delighted to welcome our first apprentice accounting technician to DSB in January.

Are you guided by any particular motto?

‘A business is only as good as its people’. We are hugely focused on that. And in 2019, with work-life balance, it’s important we offer flexible hours, and working from home. We are very open to all those initiatives to ensure we have the right people.

Away from work, what are your pastimes and hobbies?

I am a passionate Young Munster rugby supporter! Rugby is my passion. I’m also into reading, and I love music.