Welcome to our 2017 Annual Report. 2017 was yet another exciting year of change and significant achievement for us.
Our growth story is based on our aspiration to be 'our clients' best partner'. As a consequence, 2017 was yet another record revenue year and it is pleasing to see our strong growth momentum continue into 2018 with YOY revenue growth to November of 13%.
Our 2020 strategic aspiration of becoming the No. 1 firm by capability, service and revenue in the Australian market is well within reach. Our achievements in recent years are a direct consequence of our culture to collaborate and innovate and focus on providing solutions that inspire our clients every day. I therefore want to thank the hardworking teams of talented people, across the firm, who live our culture and bring our growth story to life.
We also welcomed 14 talented partners and 108 senior appointments across our four Lines of Business during the year. I'm very pleased that more than half of these appointments were female, demonstrating our continued commitment to diversity.
High Performance Culture
Central to each of our achievements is our high performance culture, which is critical to the ability of our firm to continually evolve and meet the challenges of an uncertain market and the alternate service providers that are trying to disrupt the professional services industry. The roll-out of Empower, our cultural change and client experience program, is now in its second year. Our Empower survey results tell us it is having a very positive impact on the engagement of our people because it focuses on redesigning the way we work to ensure that we deliver a distinctive client and people experience.
Innovation – A Driving Force
We have recognised the importance of business acumen and client solutions by embedding them in an innovative way at the core of the firm's DNA.
During the year we have broadened our service offering to clients with the successful integration of the ITNewcom team into MinterEllison Consulting Solutions, our fastest growing line of business, focused on the disruptive change facing our clients in technology, people and tax.
We have also continued the development of our Artificial Intelligence tools, with applications that will help our clients with their business strategy:
- Neota Logic is being used to develop a suite of apps addressing issues faced by our clients;
- we're simplifying the way we approach complex interrelated suites of documents used by our banking & finance team through automated contract generation;
- as part of our focus on machine learning, we're using AI to reduce the time it takes to review contracts on M&A deals; and
- we're also reinvesting in best of breed document automation, building a new platform to provide clients with direct access to developing legal documents online via a suite of digital tools.
2017 has been an extraordinary and exciting year for MinterEllison. I hope you enjoy reading about our progress as we strive to be our clients' best partner.