20-20 Technologies

20-20 Technologies is a world leader in software for home and office interior design. It uses advanced technologies to design bathrooms, kitchens and home offices and commercial designs for offices, hospitals and schools. Customers come from all over the world and the service is delivered electronically around the globe.

Established in Canada in 1985, the company now has international operations in the United States, Brazil, Japan and across Europe, employing 280 staff. Sales are more than $30m.

Global ambition

20-20 Technologies has a global outlook as well as a global client base. It already sells software in more than 90 countries and in 23 localised versions. This global scale and ambition means serving customers anywhere in the world and ensuring designs meet all the local specifications and regulations.

20-20 Technologies first worked with the Montréal office of Raymond Chabot Grant Thornton in Canada. The relationship flourished as the company expanded worldwide and other Grant Thornton member firms were able to offer the same flexibility, attention and technical skills.

"We found that Grant Thornton member firms offer a closely-knit approach. So, as we developed international subsidiaries we started using them more and more. They were able to do a better job for small subsidiaries than our previous accountants. And they did not make us feel too small to service even where we have smaller operations" says Jean.

When 20-20 Technologies moved into Europe for the first time, it started to consider changing group accountants too.

"We needed local expertise on the ground to meet all the different country regulations. Grant Thornton member firms helped us achieve that efficiently in a variety of countries. And once we decided to consolidate, they also conducted the group audit in the same effective way." says Jean. "Most important, our main contact in Montréal was able to get quick and accurate service from the local firms around the network when we needed it."

International accounting standards

As part of its development, the company took the strategic decision to produce financial statements in line with global standards and worked with Grant Thornton member firms to achieve that.

"More and more, ambitious, high-growth international companies need to adopt international accounting standards to be taken seriously. For example, to access capital markets in the US it is essential to adopt US GAAP", explains Raynald Deslandes, partner from Raymond Chabot Grant Thornton.

Jean Mignault confirms: "Grant Thornton member firms worked with us on the transition to GAAP and tested our quality controls to meet the necessary standards. The role of the Grant Thornton member firms has been very hands-on - reviewing our last three years' accounts for our conversion to GAAP. They also advised us the reorganisation of our finance department and on the best treatment of R&D tax credits. The way they are organised - with a key contact and separate, local experts on the ground makes them ideally suited to helping companies like ours."