Meet Sarah Palmer, CEO of IAB Group, who has spent the last 20 years gaining extensive experience in business finance, ranging from payroll and bookkeeping to accountancy and anti-money laundering (AML) regulations. Throughout her entrepreneurial journey, she has strived to stay ahead of the competition and embrace emerging technologies.
Now, as the CEO of IAB Group, Sarah is focused on empowering finance professionals to adapt to technological advancements. She recognizes the significance of staying ahead of AI and smart apps, which pose challenges to the finance industry. Sarah’s goal is to support thousands of finance professionals in navigating these changes and remaining competitive in the evolving landscape.
Sarah understands that technological advancements impact businesses of all sizes, from micro SMEs to large corporations. To stay competitive, organizations must rethink their approaches to learning, communication, and data processing. This passion for innovation drives Sarah’s leadership both within her own business and at the IAB Group.
A Comprehensive Approach
Formed in 1973 by the Council of the Institute of Administrative Accountants (IAA), the International Association of Bookkeepers (IAB) initially aimed to provide basic qualifications in Bookkeeping at three levels: Preliminary, Intermediate, and Final. These qualifications, akin to an A Level at the final stage, reflected the organization’s roots dating back to 1916. In September 2022, recognizing the diversity of its membership and qualification offerings, the association rebranded as the Institute of Accountants and Bookkeepers (IAB). Celebrating its 50th year in 2023, the IAB marked the formation of the IAB Group, consolidating IAB, IAAP, PDI, and LCCI with the objective of delivering accessible education at scale. As business practices evolve, the IAB acknowledges the value of collaboration in expanding and adapting. Leveraging the strengths and reach of its member organizations, the group aims to provide comprehensive finance and business support, education, and advisory services.
At the forefront stands the IAB, a distinguished brand offering regulated qualifications and unwavering support to finance professionals. Complementing this is the London Chamber of Commerce and Industry (LCCI), renowned for its industry-aligned qualifications, providing a clear pathway to advanced finance expertise. Notably, the group includes two organizations offering regulated qualifications, ensuring consistent standards across all educational offerings. The International Association of Accounting Professionals (IAAP) accredits professionals and offers non-regulated qualifications reflecting industry trends. PDI, with a focus on corporate and banking education in the MENA region, will become the hub for Continuous Professional Development (CPD) within the group, serving affiliated brands and external entities across various sectors.
Finding Joy Beyond the Boardroom
Sarah’s entrepreneurial ventures extend beyond her role as CEO of IAB Group. She also founded and leads Women Who Count (WWC), an award-winning financial practice that supports business owners globally. Celebrating its 15th year, WWC has evolved from a solo endeavor to a well-established international team serving a diverse clientele.
Additionally, Sarah played a pivotal role in bringing Pure Bookkeeping (PB) to the UK as its head in 2012, marking PB’s first overseas expansion. While the UK franchise achieved remarkable success, Sarah made the strategic decision to close it in 2017 to focus on PB’s growth in Canada and the US. However, with the advancements in cloud accounting software driving progress in the UK market, Sarah hints at a potential comeback for PB in the near future.
Beyond her professional achievements, Sarah’s core qualities of resilience, determination, and empathy shape her interactions both in and out of work. These traits are evident in her passion for horses, where she finds solace and joy as an accomplished rider and owner. As an avid racegoer, Sarah thrives on the excitement and thrill of the racing world.
A Journey of Personal Growth
Sarah’s commitment to personal growth is evident in her annual challenges, which she sets for herself. These challenges, such as participating in marathons, climbing mountains like Kilimanjaro, or riding in charity horse races, are intentionally significant and initially feel impossible. Sarah embraces these challenges as opportunities for personal development, growth, and learning new skills.
By pushing herself outside her comfort zone and overcoming these challenges, Sarah aims to become a better version of herself. She believes that personal development is crucial for a leader to maintain success, as an organization cannot outgrow the thinking of its leader. Therefore, Sarah’s dedication to continuous improvement not only benefits her personally but also positively impacts her leadership abilities and the organizations she leads.
The Power of Teamwork
Sarah’s resilience and determination are evident in her approach to challenges. Instead of accepting “no” as a final answer, she sees it as an opportunity to find alternative solutions. Sarah’s ability to monetize knowledge and apply it to meet market needs sets her apart. She possesses a keen instinct for understanding market demands and finding ways to fulfill them effectively.
In addition to her individual strengths, Sarah recognizes the importance of teamwork. As a leader, she values empathy and clarity, which enables her to guide her team effectively. Sarah maintains a zero-tolerance policy for low-value or unethical behavior, understanding that such conduct can be detrimental to both individuals and the organization as a whole.
The Joy of Travel
Sarah clearly thrives in her role, finding joy in various aspects of her work. She values the diversity of tasks, the opportunities for travel, and the process of developing new products and services. Witnessing both individuals and the organization as a whole grow brings her satisfaction and fulfillment.
Sarah’s perspective on individual heroics underscores the importance of balance. While she acknowledges and celebrates instances where individuals go above and beyond, she also recognizes the potential risks of unchecked individualism within the organization. Maintaining a positive attitude, integrity, good energy, willingness to learn, and being a team player are qualities Sarah prioritizes in her team members. She believes that while job-specific skills can be acquired, a person’s character is fundamental and should align with the organization’s values.
Commitment to Empowering Women
Sarah’s greatest professional risk involved making significant life changes, including a divorce and leaving a well-paid job to start Women Who Count (WWC) with two young children. This decision required a leap of faith, as she had to commit fully to making her new venture successful.
Looking ahead five years, Sarah sees herself continuing to pursue her passion for bringing microfinance opportunities to women in areas of hardship. Through her work with the IAB Group and her own company, she aims to develop the necessary contacts and market insights to implement this vision. Her concept involves connecting corporate ESG (Environmental, Social, and Governance) policies and funding to address grassroots-level needs, such as providing women in war-torn areas like Syria with access to finance to rebuild their lives and families. Sarah draws inspiration from leaders like Jacqueline Novogratz at Acumen, who have made significant strides in this area.
Advice for First-Time Leaders
Sarah advises individuals stepping into a leadership position for the first time to embrace the experience and manage their energy effectively, as leadership requires holding space for many people. She emphasizes the importance of creating and effectively communicating a vision to all stakeholders, noting that the more ambitious the vision, the more challenging this task may be. Additionally, Sarah highlights the necessity of recognizing that true success in leadership cannot be achieved alone; it requires bringing the team along and prioritizing their well-being above all else.
