Kreston has added Qwintess to its network of member firms in the Netherlands, bringing its local headcount to 650 people.

Kreston is one of the world’s top largest accounting networks with revenues of $2.6 billion last year. It’s not a company in the traditional sense, but rather a collection of largely independent firms that operate under the same brand and share certain corporate resources.

The Kreston network in the Netherlands compromises eight firms. The newest addition to the club, Qwintess, has 22 employees who provide audit and tax services to clients.

The decision to bring Qwintess into the fold offers some insight into Kreston’s business expansion strategy.

Qwintess is based in Noordwijk, a resort town located 27 from the Dutch capital of Amsterdam. None of Kreston’s seven existing member firms have a presence in Noordwijk.

Put differently, teaming up with Qwintess will not help Kreston grow its headcount but also allow it to expand into a new market where it had a limited presence until now.

Qwintess has clients in multiple markets. It supports the accounting operations of fellow professional services firms, as well as companies in the retail, distribution and technology sectors.

Kreston Netherlands, of which Qwintess is now part, naturally boasts a much longer list of customers. It has customers not in the segments where Qwintess operates but also many areas including the financial services and nonprofit segments. 

Kreston’s Netherlands business is a core pillar of its business operations in Europe. Including Qwintess, the business accounts for eight of the approximately 60 member firms that the company has on the continent.

Over the past decade, Kreston’s growth strategy has focused on expanding not only its list of network firms but also its catalog of services.

The firm’s bread and butter has historically been helping other companies with their accounting. Today, it offers a much broader menu of services that spans areas such as employee benefits management and IT consulting.

Kreston’s strategy mirrors that of bigger rivals such as EY. EY, along with the three other market-leading  accounting firms that form the industry’s so-called Big Four, have significantly expanded their IT consulting offerings in recent years.

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