10 2022 CPAmerica Advantage Newsletter

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Next level CAAS practice: Utilizing a tech stack to meet client needs

With changes coming from the accounting industry as a whole, firms are constantly needing to expand and adjust their services to continue meeting client needs. One such expansion has been seen in the Client Accounting & Advisory Services (CAAS) niche. Many firms are moving away from only providing accounting services, and into establishing and monetizing additional client advising.

At Antares Group, roughly eighty percent of their client services are in the CAAS niche. Antares Group has two main offices in Atlanta, Ga. and Boston, Mass., with restaurant franchises, such as McDonalds, as their biggest customer segments. To stand out amongst their peers and other business process organizations (BPOs), they have focused on how to be most efficient and effective by utilizing and standardizing technology to drive business and help clients.

Frank McLaughlin, CPA partner with Antares Group, explained that to be successful in the CAAS area, you must be able to differentiate yourself and your firm. “We must differentiate ourselves from BPOs by being the expert, having the knowledge,” said McLaughlin.

Another key differentiator for them is their technology stack (tech stack), the group of programs they exclusively work with at the firm and provide expertise in. Through this tech stack, Antares Group

provides these additional services to their clients, making more revenue.

A key element to selecting your tech stack programs is ensuring they can be standardized and streamlined. Streamlining your firm’s tech stack makes it easy for your people to be trained and become experts in the programs. McLaughlin explained that through these standardization practices, Antares Group has saved their team 5,000-6,000 hours of work.

“Our standardization practices have allowed for our people to get consistent training and learn program methodology without having to relearn the specific charts of accounts for each client, the only variable is the numbers,” said McLaughlin. “It also helps our firm to become more profitable and to provide better advisory work for our clients, because our expertise grows with each client.”

When selecting the right tech stack for your clients and firm, McLaughlin recommends doing all the necessary research. “If it takes you two extra months to ensure you’ve made the right decision, you should take that time,” said McLaughlin.

“Once you decide on a tech stack, you kind of have to stick with that decision. That’s why doing research is key. Be smart about how you pick it. The software must be customizable enough, but also must be scalable and adaptable for your clients,” explained McLaughlin.

McLaughlin also said that once your CAAS services are established and your tech stack has been streamlined, you can do more to better prepare your clients for the future. They started utilizing business insights and can share comparative reporting with real data to back it up.

“Two areas we are now focusing on to prepare our firm and clients for the future are, 1) selling our tech stack to people who are not currently our clients, generating additional revenue, and 2) utilizing robotic process automation (RPA) more in everything we do, including in providing business insights and reporting. As

See Tech Stack, continued on page 2

Interview with Frank McLaughlin, CPA, Partner, Antares Group

Continued from Tech Stack, on page 1

you mature and grow your CAAS practice, RPA becomes a significant factor in time saving,” said McLaughlin.

When asked what advice he has for firms interesting in building out their CAAS tech stack, McLaughlin had lots of insights to share.

“Don’t start just for the sake of starting. You also can’t do anything half-baked, you must invest in a person to lead the charge, without other assigned duties. That investment must be made to allow this person the time and energy required to do the research, build standardization, get the pricing right, etc. Even if your tech stack isn’t one hundred percent perfect, you need to get it about seventy-to-eighty percent there before you can launch,” shared McLaughlin.

If you’re interested in learning more about Antares Group’s CAAS practice and tech stack, please feel free to contact Frank McLaughlin at fmclaughlin@antarescpas.com.

McLaughlin concluded with a bit more advice, “Don’t undersell yourself and what you bring to the table. Always remember your value. And finally, if the partners are committed to doing this right, they’ll let the partner/person in charge draft the proposals, and stay out of the equation.”

2022 International Group Meeting

November 29 - December 2 | Fort Lauderdale, Florida

CPAmerica’s 2022 International Group Meeting will be hosted at the luxurious, oceanfront Ritz-Carlton Fort Lauderdale. This meeting brings together professionals from CPAmerica and Crowe Global to discuss international business development, get the latest updates on international tax & trade policy, network and share best practices.

Engage in member sharing of best practices and strengthening your firm’s position with international clients utilizing CPAmerica’s resources and the strategic relationship with Crowe Global.

Visit tinyurl.com/2brvx5vh to register or scan the QR code on the back of this newsletter

SPECIAL THANK YOU TO OUR 2022 STRATEGIC EVENT SPONSOR

McGuire Sponsel is built for the CPA industry by acting as an extension of your firm. We value the CPA/client relationship and our service is unmatched in the industry. Your clients are not just a number to McGuire Sponsel but rather, an important relationship. Our team is committed to providing first-class service with integrity in a way that helps partner firms bring value to their clients.

For more, visit www.mcguiresponsel.com

Member News

On November 1, 2022, Honkamp Krueger & Co., P.C. (HK), a Top 10 Midwest CPA and business advisory group, will acquire Gosling & Company, P.C.’s Cedar Falls and Parkersburg, Iowa, offices. The Gosling & Company’s locations in Waverly, Manchester, Waterloo, Independence and Edgewood, Iowa, will not be acquired by HK. Greg Burbach, HK’s CEO, states, “We are very excited about the upcoming acquisition of Gosling & Company’s Cedar Falls and Parkersburg offices. Their firm has a great reputation in Northeast Iowa and has a close cultural fit with HK. We both believe in serving clients with a personal touch while helping them be more profitable. It’s a great addition to HK’s presence and investment in Northeast Iowa.” Michael Brannon of Gosling & Company adds, “We are excited for the new opportunities this merger/acquisition offers to serve our clients in a greater capacity, and the team is looking forward to the future as part of the HK Family.”

“By accepting the next challenge in their careers, these individuals are hitting their stride for success and growth. I can’t wait to see what they accomplish here at Anglin in the coming years.”

Anglin Reichmann Armstrong, P.C. is pleased to announce several employee promotions. Jacqueline Sasser - manager, audit & assurance services; Kayla Burgess - manager, client accounting & advisory services (CAAS); Rebecca Givens - manager, tax advisory services; Christine Hopkinssupervisor, tax advisory services; Elissa Radway - senior accountant, solutions advisory services; Fanny Starzmann - senior accountant, Tax Advisory Services; Jack KlineSenior Accountant, Tax Advisory Services; John Prince - Senior Accountant, Audit & Assurance Services; Julie Long - Senior Accountant, Solutions Advisory Services; and Leah Lawrence - Senior Accountant, Tax Advisory Services. “Leadership skills are best learned by doing,” says Brandon Smith, Managing Partner.

Lee M. Cohen, CPA , managing partner, and founder at LMC CPAs was recognized by Crain’s New York Business as a Notable Leader in Accounting & Consulting in September, 2022. Crain’s Notable Series honors exceptional business professionals across multiple industries. Lee was selected amongst 64 distinguished New York professionals in accounting & consulting for his ability to master the business challenges facing clients and become their trusted advisor. Cohen continues to lead the firm during a period of unprecedented growth and has introduced new practice areas to the firm, including its outsourced finance division, a mortgage consulting business and a division that bridges the gap between sponsors and investors. In addition to his busy professional life, Cohen also contributes his talents and time to community and philanthropic activities. Cohen was this year’s recipient of the Arthur J. Dixon Public Service Award from the New York State Society of CPA’s. LMC CPAs is also proud to be named one of Crain’s New York Business 100 Best Places to Work in NYC for 2022. Crain’s New York Business designs this program annually in collaboration with the Best Companies Group, to award the 100 top places of employment in New York City. Building a strong team culture and healthy work/ life balance for its employees has always been important to the firm. The firm has recently implemented many innovative benefits, rewards and team appreciation events and is excited to have been recognized with this prestigious award.

Whalen CPAs is excited to announce the two newest additions to their team, Tevin Majors and Paityn Wood. Majors, who will be serving as a staff accountant, has over three years of accounting experience. He is an employee who puts a premium on being detailed and team-oriented. Paityn Wood has joined the team as the newest assistant administrator. Wood will be a huge asset in ensuring our internal operations run smoothly. She brings to her position a passion for collaborative work and a desire to think outside the box. Whalen is excited to welcome them both to the team and can’t wait to see how they will grow!

Robinson, Grimes & Company, PC , is proud to announce the promotion of four valuable team members. Laura L. Taber, CPA has been promoted to income partner, William V. Heard, CPA has been promoted to manager, Robert J. Andrews, CPA has been promoted to manager, and Cody M. Benn, CPA has been promoted to supervisor.

Whalen CPAs is also thrilled to unveil their transformed brand identity. The updates reflect the evolution and modernization of their company since its founding in 1945. The changes are significant, but their core beliefs haven’t changed. Over the last year, they have poured their hearts and souls into designing a brand that accurately depicts who they are and where they are going. Rest assured, they’re the same people and company you trust, just with a new face and voice. Say hello to the new Whalen CPAs. Where our passion is your peace of mind.

Gray, Gray & Gray runners compete in annual road race

A team of runners from Gray, Gray & Gray, LLP, a consulting, accounting and business advisory firm headquartered in Canton, MA, participated in the 18th annual Canton Road Race on Sunday, September 25, 2022. Gray, Gray & Gray also donated $1,000 in support of the race sponsor, the Canton Association of Business and Industry Charitable Foundation. “Our firm is committed to supporting the community in which we live and work,” said Jim DeLeo, leading partner of Gray, Gray & Gray. “We are also fully invested in making sure our people have a sustainable work/life balance, and are very happy that so many of our staff members ran together.”

Honkamp Krueger & Co. acquires Gosling & Company

Rebecca Givens

Jacqueline Sasser

Kayla Burgess

Greg Burbach

Michael Bannon

Anglin Reichmann Armstrong, P.C., announces promotions

Robinson, Grimes & Company, PC announces staff promotions

Whalen CPAs announces new hires and firm rebrand

LMC CPAs founder recognized, named top workplace

Lee M. Cohen

CPAmerica Insights

Grace Horvath, President

I am often reminded that staying abreast of everything CPAmerica has to offer can be challenging. With 89 independent firms, not all things are needed by all firms. You are also especially busy people and remembering everything in your own firm is enough, much less what we’re doing over here.

One program I believe has gotten low on members’ radars is our companion alliance, CPAConnect. I’m sure there are a few of you in tune with CPAConnect. I’m also sure there are some, especially newer firms, who have heard us mention it, that don’t know much or how it relates to you.

CPAmerica launched CPAConnect as a companion alliance for smaller firms in 1994. CPAConnect firms range in size from $100,000 to nearly $3,000,000 in revenue. There are many sole practitioners amongst them and lots of two partner firms. Our last survey of the group revealed the average size to be between $700,000 and $800,000 in revenues. At its peak, the alliance grew to nearly 220 firms which has receded to around 150.

CPAConnect was originally conceived as a value add to the members of CPAmerica. Forming in 1978, the association had developed the basic resources designed to help members improve through sharing: the discussion list platforms, sharing library, members only website, CPE training and meetings. The idea was to start a supportive sharing organization for small firms utilizing the platforms already developed for the association. The alliance would give CPAmerica member firms access to small firms in their surrounding market for reasons beneficial to both parties. The primary symbiosis in the “sponsorship” relationship is the opportunity for the referral of work in both directions; work beyond the abilities of the CPAConnect member is referred up to the larger firm and work the larger firm has outgrown is referred downstream. In either direction the client is serviced with the reassurance that they will be in good hands.

Succession planning is another opportunity as these smaller firms are

often looking to affiliate as part of their plan for uninterrupted client service upon retirement. Not to mention the day-to-day access to expertise they get through their relationship with a larger firm. Similar to the unique relationship CPAmerica has today with Crowe LLP giving member firms access to expertise that may not exist in the membership.

CPAmerica member firms recognize benefits beyond having a trusted peer to whom they can refer work. Some see CPAConnect as a means to build relationships with potential acquisition candidates. There are also CPAConnect firms that are specialty practices offering a service a member would like to offer without building out another part of their practice.

At the outset all CPAConnect firms were sponsored by a CPAmerica firm. Over the years, CPAmerica prospecting in open markets introduced us to firms that didn’t qualify in size but were good candidates for CPAConnect, and the group grew beyond the sponsorship program. While the member sharing among like-sized firms gives members a way to assist each other, the missing piece is the vertical opportunities between smaller and larger firms.

The nature of the relationship between the sponsor and the smaller firm supports the need for access to expertise a small firm might not be able to afford. The affordable dues structure of CPAConnect is a winning combination with an active

Upcoming Event Dates

sponsor who includes their affiliate in firm activities such as CPE and even networking and social events.

CPAConnect members do not have geographic consideration so a CPAmerica member firm may choose to affiliate with multiple firms in the market thus spreading their net even further while supporting small firms and enhancing the quality of services in the market. For the resources and attention given to the sponsored firms, the CPAmerica firm receives a portion of the dues.

We have seen instances where a CPAmerica firm is in a market where the benefits don’t outweigh the risk of competing and we do not pursue CPAConnect firms in those areas.

CPAmerica members always have the final approval of CPAConnect firms in their market and the right to remove any firm they feel is not respecting the spirit of the program.

We would like to revive the CPAConnect sponsor program. If your firm is interested in learning more, please let us know. You can send us a list of firms in the area you would like us to contact; you can request a list of prospects in your area and select any you would like us to pursue; and you can even host a meet-up in your firm for us to host a presentation to a group of prospective members. Please contact our new Senior Member Services Manager and Director of CPAConnect, Linda Portner at lportner@cpamerica.org.

2022 Leading Partners Retreat & Firm Management Roundtable

INSIDE THIS ISSUE:

► Learning together at The Greenbrier

► 2023 LPR co-chairs announced

► Firm Management Roundtable recap

► Upcoming CPAmerica Tax Conference & International Group Meeting

Learning together at The Greenbrier in White Sulphur Springs, West Virginia

Tuesday, September 20, marked the beginning of the Leading Partners Retreat (LPR) and Firm Management Roundtable (FMR) at The Greenbrier in White Sulphur Springs, W.Va. This beautiful, historic resort located in the gorgeous Allegheny Mountains provided the perfect backdrop for our members to network, learn together and most importantly, share.

After a welcome and opening remarks from CPAmerica president, Grace Horvath, Alex Dorr (People Evolution) opened the meeting with an inspirational session, Reality-Based Leadership: Ditching the Drama, Turning Excuses Into Results and Cultivating HighlyEngaged Teams in Our New Workplaces. After a networking break, Kris McMasters (McMasters Consulting) presented her front row insights on M&A as former co-CEO of CliftonLarsonAllen. The first day wrapped up with member sharing, and a social event at The Greenbrier’s on-site bowling alley.

The next day kicked off with a variety of business before hours sharing sessions, before Michelle Golden River (Fore, LLC) led a two-part session. The afternoon’s NextGen Panel, facilitated by Mike Platt (INSIDE Public Accounting) included a multi-generational discussion from rising stars, Cristina Villalobos (Wheeler Accountants LLP), Jose Garcia (MHCS) and Jessica Robinson (DMJPS, PLLC) providing insights and answering questions about what drives and keeps the future leaders of the firm. That evening, attendees enjoyed a special event at Kate’s Mountain Lodge featuring delicious Appalachian cuisine, live music, networking and fun.

Roman Kepczyk (Right Networks) kicked off the final meeting day with a partner-level look at innovative and emerging technologies before more member sharing by topics, including cybersecurity best practices. The meeting wrapped up with a Monday Morning Game Plan with attendees sharing their biggest take-aways they will work on in their firms.

CPAmerica president, Grace Horvath welcoming attendees to kick off the LPR / FMR meetings at The Greenbrier

Opening day Reality-Based Leadership keynote from Alex Dorr, speaker, vice president of People Evolution

Debbie Weidner (Wallace, Plese + Dreher, LLP) showing off her bowling skills at The Greenbrier’s eight-lane bowling alley

Attendees enjoying networking during the first night’s social event during LPR / FMR at The Greenbrier

Tammy Daniel and Mark Kashgegian (Antares Group) enjoying the networking, drinks and snacks

Chris Hollifield (Rushton, LLC) and Gary Schultz (Baum, Smith & Clemens, LLP) enjoying the social event

(L to R) Ingrid Jensen (Crowe BGK), Patty Kautz (VonLehman & Co.), Jessica Sayles (HRC), Tarena Stanley (CPAmerica), Jackie Matthew (HRC) & Toya Frazer-Ellis (CPAmerica)

2023 Leading Partners Retreat co-chairs

announced

CPAmerica’s annual Leading Partners Retreat is the association’s flagship event. Our members play a key role in the success of the event, and having co-chairs with the expertise and perspective is crucial in the planning process. The 2022 LPR cochairs, Lisa Shuneson (Whalen CPAs) and John Lauseng (Aldrich) were tasked with shaping this year’s meeting, and they did not shy away from the task. This year’s successful LPR was a testament to their commitment to CPAmerica and their fellow members. Thank you to Lisa and John for their exceptional work in planning this meeting!

The 2023 LPR will take place at the US Grant Hotel in San Diego, Calif., September 19-22. Co-chairs, Brenda Jacobs (Brickley DeLong, PC) and Mark Livingston (Hughes Pittman & Gupton, LLP), are sure to plan an event to remember. Mark your calendars, you won’t want to miss it!

Firm Management Roundtable, packed with member sharing and networking

In addition to several joint sessions with LPR, the Firm Management Roundtable (FMR) group had sessions specifically related to those in the role of firm administration, HR and COOs. The first meeting day included a State of the Firm member sharing session led by David Bier (Anglin Reichmann Armstrong, PC) and Amy Maule (Williams & Company, CPA), which gave members the opportunity to share recently implemented best practices and positive initiatives. After a networking lunch, attendees enjoyed the popular FMR Book Club, led by Hank Wolfson (Gray, Gray & Gray). Attendees then participated in an HRFocused Anything Goes member sharing session, facilitated by Paula Hooser (Hagen Kurth Perman & Co.) and Tina Moore (Pease Bell CPAs, LLC). In the evening, FMR attendees enjoyed networking with both groups at The Greenbrier’s bowling alley.

After optional business before hours sharing sessions the second day, attendees enjoyed FMR-exclusive presentations, led by Charles Hylan (The Growth Partnership) on growing advisory services and Samantha Mansfield (ConvergenceCoaching) on how to plan high impact partner retreats. Attendees enjoyed lunch and the NextGen Panel, before Michelle Golden River (Fore, LLC) led a compelling session on addressing firms capacity issues through culling clients. The final session of the day gave attendees a closer look at how to maximize CPAmerica’s new LMS, led by consultants from CPAmerica’s LMS partner, Prolaera. Attendees ended a full day at Kate’s Mountain Lodge overlooking the Allegheny Mountains for the evening’s special event.

After Kepczyk’s joint technology session, the final day of FMR included more member sharing opportunities: Recruiting & Retention, led by Anita Atkinson (Kassouf & Co., PC) and Jennifer Stief (Sol Schwartz & Associates, PC) and Remote & Hybrid Workforce, led by Tammy Daniel (Antares Group) and Patty Kautz (VonLehman & Co.).

Thank you to FMR co-chairs, Hope DellaStua (EFPR Group, LLP) and Hank Wolfson for helping to plan a truly memorable event! The 2023 FMR co-chairs were also announced as David Bier and Suzzone Fletcher (Gollob Morgan Peddy PC).

NextGen Panelists, Cristina Villalobos (Wheeler Accountants, LLP), Jose Garcia (MHCS) and Jessica Robinson, (DMJPS, PLLC), with moderator, Mike Platt (The Platt Consulting Group)

CPAmerica board chair, Jackie Cardello (GRF CPAs) asking a question of panelists during the multi-generational NextGen Panel discussion

Attendees enjoying food, drinks and live music during a great evening at Kate’s Mountain Lodge at The Greenbrier

(L to R) Ryan Dunn (CPAmerica), Toya Frazer-Ellis (CPAmerica), John Horvath, Grace Horvath (CPAmerica), Jackie Cardello (GRF), Lisa Henson (CPAmerica) & Tarena Stanley (CPAmerica)

Nathan Volkomener (Huberty) enjoying the delicious Appalachian cuisine and music at Kate’s Mountain Lodge

Regina Alexander (SME CPAs) and guest, Jamie Downing, during a great evening at Kate’s Mountain Lodge at The Greenbrier

Brenda Jacobs, 2023 LPR Co-Chair

Lisa Shuneson, 2022 LPR Co-Chair

Mark Livingston, 2023 LPR Co-Chair

John Lauseng, 2022 LPR Co-Chair