Paperchase Accountancy, a London-based firm with over 30 years of experience, specializes in serving high-profile clients in the hospitality sector, including multi-chain eateries that collectively hold more than 20 Michelin stars. With a turnover of approximately £20 million, the firm supports over 3,000 locations worldwide, spanning Europe, America, the Middle East, Africa, and Asia.

To fuel its growth ambitions, Paperchase has secured a minority growth investment from BGF, led by a team from their London office. This partnership aims to enhance the firm's global expansion plans, with Steven Clarke joining the Paperchase board as non-executive chair.

CEO Nish Patel emphasized that the firm has doubled its revenue in the past three years by focusing on two core areas: people and technology. He believes this strategy has been integral to Paperchase's success since its inception. While the firm could have pursued growth independently, Patel noted that the backing from BGF would expedite their plans and make the process more enjoyable.

The investment will primarily target three areas: people, technology, and sales and marketing. Patel highlighted the importance of building a dedicated sales and marketing team, which Paperchase lacked until two years ago. He expressed the need for expertise in technology, particularly in AI and predictive analysis, to ensure that investments align with client value creation.

Patel regards people as the firm's most valuable asset, stating that the right talent is crucial for success in the service industry. The partnership with BGF will enable Paperchase to attract talent that may have been out of reach previously.

Patel described his initial meeting with BGF as positive, noting that their values aligned well. He appreciated BGF's supportive approach, which allows Paperchase to maintain control over its operations while benefiting from guidance in areas where they may lack expertise. This collaborative dynamic is essential for Patel, who finds the CEO role can be isolating.

The firm aims to establish itself as a leading authority in hospitality accounting by focusing on people, technology, and marketing. Patel acknowledged the challenges facing the hospitality industry, particularly in the wake of COVID-19, where many restaurants struggle to survive. He believes that the key to success lies in leveraging data to make informed decisions, rather than relying solely on location or food quality.

In summary, Paperchase Accountancy is poised for growth with the support of BGF, focusing on enhancing its capabilities in people, technology, and marketing. By addressing the challenges within the hospitality sector and leveraging data-driven insights, the firm aims to solidify its position as a go-to resource for hospitality accountants globally.