Industries - Withum https://www.withum.com/industries/ Tue, 20 May 2025 14:25:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 Transportation and Logistics https://www.withum.com/industries/industrial-and-consumer-products/transportation-and-logistics/ Thu, 15 May 2025 19:09:40 +0000 https://www.withum.com/?post_type=industry&p=128238 Transportation and logistics companies—whether moving goods by air, ground or sea — are the engines of the global supply chain. You’re not just part of the process; you are the […]

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Transportation and logistics companies—whether moving goods by air, ground or sea — are the engines of the global supply chain. You’re not just part of the process; you are the process, optimizing routes, coordinating fleets, managing port logistics and ensuring just-in-time delivery under tight cost and compliance pressures.

Contact Us

Withum’s Logistics and Transportation Services Team brings decades of hands — on experience helping transportation companies overcome industry-specific challenges — from volatile fuel prices to evolving trade regulations. We offer transportation and logistics accounting expertise to enhance process efficiency, implement scalable financial systems and navigate changing tax and regulatory landscapes. Whether you’re tracking shipments across states or continents or coordinating last-mile delivery, our accountants and advisors bring industry-specific insights and forward-thinking strategies to help your business stay agile and resilient.

Who We Help

  • Commercial Air, Ground and Maritime Transportation
  • Passenger Transportation
  • Moving Businesses
  • Warehousing and Storage Businesses
  • Recycling and Sanitation Services
  • Supply Chain Disruptions
  • Labor Shortages
  • Cybersecurity
  • Regulatory Compliance
  • Technology Adoption
  • Change Management

Transportation and Logistics Services

  • Financial Forecasts and Budgets
  • Employee Compensation Plans
  • Transportation Tax Issues
  • Insurance Consulting
  • Tax Compliance
  • Audit and Attest Services
  • Outsourced Accounting Systems and Services (OASyS)
  • Litigation Support
  • Strategic Business Planning
  • Cross-Border Transactions
  • State and Local Tax
  • AI and Technology Adoption
  • ERP, Financial Reporting and Modeling

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Leadership

Jim Hannan Partner
James J. Hannan

Partner

Whippany, NJ

Matthew Walsh

Partner

Princeton, NJ – Corporate Headquarters

Image of Dave Poillucci.
David J. Poillucci

Partner

Whippany, NJ

Michael M. Kulick

Partner

Whippany, NJ

Image of Walter Merkas.
Walter Merkas

Advisory

Jason Thomas

Partner

Contact Us

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]]> Manufacturing and Distribution https://www.withum.com/industries/industrial-and-consumer-products/manufacturing-and-distribution/ Thu, 15 May 2025 18:34:31 +0000 https://www.withum.com/?post_type=industry&p=128236 Manufacturing and distribution companies must navigate complex supply chains, rising costs, evolving regulations and growing customer demands. Success requires more than just keeping up — it demands strategic partnerships. Withum’s […]

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Manufacturing and distribution companies must navigate complex supply chains, rising costs, evolving regulations and growing customer demands. Success requires more than just keeping up — it demands strategic partnerships.

Contact Us

Withum’s team of experts help businesses stay ahead of regulatory changes while maintaining financial integrity. From smart automation and AI-driven insights to rapidly evolving domestic and cross-border transactions. Withum offers tax strategies and hassle-free assurance services, that provide the guidance and tools to support your growth goals.

Whether you’re a multinational manufacturer, a large wholesale distributor or a fast-growing startup, our manufacturing and distribution accountants and advisors have decades of experience with companies of all sizes, ranging from under $1 million to over $1 billion in annual revenues.

Who We Help

  • Automotive and Related Components
  • Consumer Goods
  • Chemicals, Formulations and Allied Products
  • Food, Beverage and Agriculture
  • Industrial Materials, Furniture and Fixtures
  • Machinery, Appliances and Electronics
  • Packaging, Printing and Paper

Navigating cross-border transactions can be a challenge for even the smallest operations. Withum can advise on local, national and international settings.

If your business operates internationally, we help navigate foreign tax considerations, tariffs and trade regulations to help ensure compliance while maximizing cash flows and profitability. When operating nationally, we help you understand and navigate complex domestic tax regulations while identifying tax-saving opportunities to minimize tax liability.

Whether you need an independent accountant to assist with an audit or reviewed financial statements or are looking to outsource the accounting function, our manufacturing and distribution accountants and advisors can help. Get the financial clarity and confidence needed to support informed decision-making across your business.

Our team evaluates your inventory movement methods, such as FIFO, LIFO or weighted average cost, to determine the most effective strategy for financial reporting and tax optimization. We also help manage inventory effectively and optimize warehousing strategies to ensure timely fulfillment and cost control.

We help you accurately track production costs, including materials, labor and overhead, ensuring better cost control and improved financial decision-making. We also offer strategies to evaluate and optimize your supply chain from procurement to delivery.

Digital transformation is reshaping the manufacturing and distribution industry. We help implement ERP systems, automation and cybersecurity strategies to enhance efficiency, protect data and improve decision-making.

Looking for new ways to grow your manufacturing or distribution business? We help you explore growth opportunities through strategic acquisitions or partnerships with expert advisory and due diligence support. Whether you’re interested in a buy-side or sell-side transaction, we can help you through every stage in the deal lifecycle.

Manufacturing and Distribution Services

  • Cost-Based Accounting
  • Cycle Counting Implementation
  • Cross-Border Transactions
  • Business Valuations
  • Insurance Consulting
  • Tax Compliance and Provision Services
  • Audit and Attestation Services
  • Supply Chain Compliance
  • Inventory Management
  • Tax Planning and R&D Credits
  • Business Expansion, Investment and Succession Planning
  • AI and Technology Adoption
  • ERP, Financial Reporting and Modeling

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Leadership

Jim Hannan Partner
James J. Hannan

Partner

Whippany, NJ

Matthew Walsh

Partner

Princeton, NJ – Corporate Headquarters

Image of Dave Poillucci.
David J. Poillucci

Partner

Whippany, NJ

Michael M. Kulick

Partner

Whippany, NJ

Image of Walter Merkas.
Walter Merkas

Advisory

Jason Thomas

Partner

Contact Us

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]]> Food and Beverage https://www.withum.com/industries/industrial-and-consumer-products/food-and-beverage/ Thu, 15 May 2025 18:26:42 +0000 https://www.withum.com/?post_type=industry&p=128239 Operating in today’s food and beverage industry requires more than great products. It demands strategic agility and financial precision. From shifting consumer demands and complex regulatory requirements to rising tariffs […]

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Operating in today’s food and beverage industry requires more than great products. It demands strategic agility and financial precision. From shifting consumer demands and complex regulatory requirements to rising tariffs and supply chain volatility, food businesses are navigating unprecedented operational pressures.

Contact Us

Whether you’re an emerging food brand scaling for growth or a national manufacturer preparing for an IPO, staying competitive requires more than just keeping up — it requires forward-thinking guidance. Withum’s dedicated Food and Beverage Services Team understands the nuances of your industry and provides tailored accounting, advisory and tax strategies to help you manage risk, improve margins and position your business for success.

Food and Beverage Lifecycle

Food and Beverage Lifecycle

Who We Help in the Food and Beverage Industry

Food Manufacturers and Processors

As a food manufacturer and processor, you know what it takes to succeed in your business, whether you’re producing snacks, beverages or specialty foods. At Withum, your ingenuity is the key ingredient we build on to help you optimize operations, drive profitability and fuel sustainable growth.

Health Foods

Bringing a health-focused product to market takes more than a great idea — it requires strategic execution across sourcing, formulation, compliance and go-to-market. Withum’s team delivers industry-specific guidance in advisory, accounting, audit and tax compliance to help health food companies grow with confidence.

Agribusiness

From crop production and livestock management to produce distribution and nursery operations, agribusinesses face unique challenges tied to climate, regulation, labor and market volatility. Our advisors work closely with growers, ranchers, and import/export companies to optimize operations and manage risk.

Restaurants

The restaurant industry is the final phase of the food and beverage lifecycle — but it involves so much more than just putting a meal on the table. Whether you operate a single location, franchise, large restaurant group or a multi-unit chain, together we can help you navigate daily changes in a dynamic industry to help you grow while keeping customers satisfied.

Breweries, Distilleries, Wineries and Crush Facilities

From navigating licensing and compliance to managing inventory, production costs and seasonal cash flow, the financial and operational demands are complex. Our team understands the nuances of the beverage industry and delivers tailored solutions so you can focus on perfecting your craft. 

Food Franchise

Owning and operating a food franchise involves navigating complex agreements, ensuring brand consistency and driving profitability across every unit. You need to consider franchise agreements, royalty structures, cost controls and regulatory compliance to optimize your business for profitability and scalability. We can provide the financial insights and strategies that drive success while supporting your long-term goals.

You’re juggling everything that comes with running your business while staying on top of trends. Food sourcing and selection are top of mind for consumers — along with conversations on food sustainability, traceability, dietary needs and preferences. Our team can help you navigate this shifting landscape.

Customer demand is one thing, but expenses create another headache in the food and beverage ecosystem. Everything from rent inflation to supplier bankruptcies, product recalls and the complications of navigating tariffs on imports is impacting the food industry. We’ll bring insights on how to minimize risk and liability to help maximize profits and sustainability.

Ingredient quality is of the utmost importance for your food and beverage business. You’re doing everything you can to keep up with customer expectations around sustainable sourcing, fair trade and organic branding while maintaining regulatory compliance. The addition of our process and supply chain experts to your team will help you identify the weak points in the supply chain to keep your business running smoothly.

Food and Beverage Services

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Leadership

Matthew Walsh

Partner

Princeton, NJ – Corporate Headquarters

Lauren Naples
Lauren A. Naples

Partner

Red Bank, NJ

Derek White

Principal

San Francisco, CA

Jeff DeLuca
Jeff DeLuca

Orange County, CA

Contact Us

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]]> Industrial and Consumer Products https://www.withum.com/industries/industrial-and-consumer-products/ Thu, 15 May 2025 18:20:20 +0000 https://www.withum.com/?post_type=industry&p=128233 In today’s fast-moving market, industrial and consumer product companies face increased pressure to streamline business operations, manage supply chain disruption, navigate the implications of a rapidly changing tariff and global […]

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In today’s fast-moving market, industrial and consumer product companies face increased pressure to streamline business operations, manage supply chain disruption, navigate the implications of a rapidly changing tariff and global trade landscape and adapt to shifting consumer demands, all while delivering value to stakeholders.

Contact Us

Withum’s Industrial and Consumer Products (ICP) Services Team supports businesses across the full product lifecycle — from family-owned and closely held companies to multinational operators and publicly traded enterprises. Whether you’re scaling manufacturing, navigating distribution challenges, optimizing direct-to-consumer sales or expanding a restaurant group into new markets, we deliver tailored solutions that integrate financial insights, operational efficiency, seamless compliance and technology-driven strategies. Backed by decades of accounting, tax and advisory experience in the industrial manufacturing and consumer goods sectors, we help you stay ahead of regulatory changes, market shifts and evolving supply chain dynamics.

Who We Help

  • Manufacturers and Distributors
  • Wholesalers and Retailers
  • Transportation and Logistics Companies
  • Franchises
  • Restaurants, Breweries and Distilleries
  • Food Processors and Beverage Distributors
  • Cannabis Cultivators, Dispensaries and Multi-State Operators

Industrial and Consumer Products Lifecycle

Industrial and Consumer Products Industry Challenges

  • Supply Chain Compliance
  • Inventory Management
  • Tax Planning and R&D Credit
  • ERP, Financial Reporting and Modeling
  • Regulatory Compliance
  • Business Expansion, Investment and Succession Planning
  • AI and Technology Adoption
  • Cybersecurity and Data Protection

Industrial and Consumer Products Services

Accounting and Auditing Services

Tax
Services

Advisory
Services

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

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Breaking Down the Tax Reform Bill’s Impact Across Industries

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Recovery, Deferral, Mitigation – Options to Limit Tariff Impact and Optimize Working Capital

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Leadership

Matthew Walsh

Partner

Princeton, NJ – Corporate Headquarters

Jim Hannan Partner
James J. Hannan

Partner

Whippany, NJ

Image of Dave Poillucci.
David J. Poillucci

Partner

Whippany, NJ

Michael M. Kulick

Partner

Whippany, NJ

Image of Walter Merkas.
Walter Merkas

Advisory

Steven Monacelli

Partner

Boca Raton, FL

Jason Thomas

Partner

Client Testimonials

Located in Garfield, NJ, Brimar Industries and Signs of Security (a division of Brimar Industries) typically produce and distribute safety signs and pipe markers. Brimar came up with the idea to utilize Brimar’s facility and supplies to help the medical community, in this case by producing facial shields. They were able to utilize the resources they already had in stock, as well as their relationships with suppliers to produce 200 face shields a day, donating hundreds of masks to four different hospitals and health centers.

Brimar Industries, Inc.

Peabody, MA-based Prattville Machine & Tool Company typically manufactures components for the defense, medical and semiconductor sectors. Working with a Harvard University and Boston Children’s Hospital, they have pivoted to develop alternatives to the N95 mask, implementing out of the box concepts and utilizing their 3D printing capacity to produce components that allow standard anesthesia masks to be used in place of N95 respirators.

Prattville Machine & Tool Company

New York-based Urban Electic Power, Inc. (UEP) realized they could shift production to meet the demand for hand sanitizers and battery power packs for ventilators. UEP’s existing vision to provide affordable power to everyone using earth-abundant and safe materials enabled them to fill a need for power in a new way to keep society safe.

Urban Electric Power, Inc.

Industry Involvement

Contact Us

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]]> Healthcare Revenue Cycle Management Services https://www.withum.com/industries/healthcare/healthcare-revenue-cycle-management-services/ Wed, 02 Apr 2025 07:12:01 +0000 https://www.withum.com/?post_type=industry&p=127495 As healthcare continues to evolve from fee for service to value based, our mission here at Withum is to provide Revenue Cycle Services that will ensure our providers Revenue Cycle […]

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As healthcare continues to evolve from fee for service to value based, our mission here at Withum is to provide Revenue Cycle Services that will ensure our providers Revenue Cycle continuum is aligned to realize full revenue potential. Our expertise works collaboratively with you as an extension of your team to identify and implement process improvement opportunities and initiatives that will improve your overall revenue.

Contact Us

Revenue Cycle Services and Assessments

Whether you have had a change in leadership, system conversion or a slow-down in cash, Withum offers various revenue cycle and revenue recovery services including:

Retrospective Denial Analysis/Root Cause Identification/Denial Prevention

Denials impact the ability to realize full revenue potential. Effectively managing “true” historical denials data, identifying the root cause issues and resolving the disconnect to prevent reoccurrence in the future can be challenging for providers. Our comprehensive denials management approach assesses historical denial trends while collaborating with you to prevent future denials.

Retrospective Revenue Recovery

Contractual disputes, inappropriate payment and coding and billing errors all lead to opportunities to recover revenue. Our team will collaborate with payors and Medicare to recover historical revenue for up to four years.

Withum recognizes that with significant cashflow interruption, medical centers are viable candidates for our retrospective billing analysis.

Centers for Medicare and Medicaid (CMS) reimburses hospitals add-on payments over and above the Diagnosis-Related Team reimbursement for blood clotting factors and other new technologies. These payments are facilitated by coding and billing criteria but disconnects can result in lost revenue for providers. With recent increases in technology reimbursement, hospitals must ensure they are properly reimbursed. We will review Medicare claims that were incorrectly billed and recover funds to maintain positive margins for your organization.

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Interim Revenue Cycle Management

Utilizing an interim resource allows healthcare providers an opportunity to recruit for their optimal leader. There are also opportunities to work collaboratively with an internal resource who may need short-term mentorship to step into a top leadership role. Withum’s professionals have spent their careers working collaboratively with providers in interim roles to ensure cash flow remains constant and internal goals and initiatives are achieved as planned.

Assessments

A focused review of specific areas within the Revenue Cycle continuum, such as Scheduling, Insurance Eligibility, Charity Care Point of Service Collections, Case Management, HIM, Observation, Charge Capture, Billing, Aged Receivable Analysis, Vendor Management, and Bad Debt.

A healthcare provider’s revenue cycle contains countless processes integrated across your people and systems. A full comprehensive assessment of each functional area within the Revenue Cycle, providing a roadmap and workplan for new and existing leadership, that will identify key areas of opportunity and efficiency. We customize your review based on your priorities and business needs.

Rapid assessment identifying revenue leakage opportunities throughout all functional areas within the Revenue Cycle.

Why Withum

Withum has extensive experience recovering additional Medicare revenue for hospitals with patients who have received inpatient care and are eligible for add-on reimbursement over and above the Diagnosis-Related Team. These include a smaller volume of patients; however, claims with the opportunity have significant revenue potential. Our highly skilled Healthcare Services Team has deep knowledge and expertise in hospital reimbursement and proven techniques integral to engagement delivery.

  • Ability to recover claims outside of timely filing
  • Minimally invasive
  • Identify opportunities to provide a roadmap for process improvement

Leadership

Kathryn Ruggieri

Principal

Whippany, NJ

Domenic J. Segalla

Principal

New York, NY

Contact Us

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]]> Music Industry https://www.withum.com/industries/theatre-entertainment-the-arts/music-industry/ Tue, 25 Feb 2025 09:56:22 +0000 https://www.withum.com/?post_type=industry&p=126778 The music industry is a fast-paced environment for artists and their teams.  Behind the scenes of amazing performances, there is a web of compliance challenges both personally and professionally.  No […]

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The music industry is a fast-paced environment for artists and their teams.  Behind the scenes of amazing performances, there is a web of compliance challenges both personally and professionally.  No matter the stage of an artist’s career, our Music Industry Services Team helps support clients through every stage from beginning their career in the industry through retirement. 

Contact us

Whether playing shows in local bars or headlining stadiums, our music industry CPAs help musicians with tax planning at every stage of their careers.  From the basics of what is deductible and state and local tax planning to how to handle royalties and managing international touring tax compliance, our team of advisors and accountants are there for their clients. Our industry experts provide their knowledge and dedicated passion for the music industry to ensure your advisory and tax needs are met throughout your career and beyond.

Who We Help

  • Touring and Recording Artists
  • Independent Musicians
  • Songwriters
  • Music Producers
  • Music and Talent Business Managers
  • Actors and Actresses

Music Industry Accounting and Advisory Services

Leadership

Conor Barnes

Nashville, TN

Hope Patterson
Hope E. Patterson

Nashville, TN

Contact Us

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]]> Dealership Fraud and Forensics https://www.withum.com/industries/dealerships/dealership-fraud-and-forensics/ Tue, 01 Oct 2024 13:55:55 +0000 https://www.withum.com/?post_type=industry&p=124843 Our forensic experts collect, analyze, and interpret data, thoroughly examining suspicious activity that may point to theft, misuse, and misappropriation of funds within a dealership. We work to protect our […]

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Our forensic experts collect, analyze, and interpret data, thoroughly examining suspicious activity that may point to theft, misuse, and misappropriation of funds within a dealership. We work to protect our dealership clients by implementing controls to prevent fraud, investigating fraud or embezzlement if it does occur, and analyzing financial information to use in legal proceedings.

Contact us

Due to their intricate operations, dealerships face inherent fraud risks. Theft can manifest itself in various ways, including embezzlement, larceny, identity theft, and wages, which, if done knowingly, can constitute fraud. At Withum, we partner with you to implement robust internal controls for your dealership that proactively thwart fraud. Our collaborative efforts emphasize vigilance, transparency, and ethical practices, potentially minimizing the risk of dealership fraud.

Withum has extensive forensic experience helping dealerships navigate fraud issues and decrease their overall fraud risk through numerous strategies, including but not limited to:

Implement strong internal controls within the dealership’s accounting department. These controls should cover daily transactions, including sales, repair orders, invoice payments, payroll, cash disbursements and cash receipts. Real-time access to accounting information helps detect fraud early in your dealership.

Ensure that tasks are segregated among employees. For instance, managing payroll, cash handling, and reconciling reports should be performed by different individuals. If staffing is limited, consider outsourcing certain dealership accounting functions to a third-party service.

Conduct background checks on your dealership employees and vendors. Use complex computer passwords that change frequently. Maintain security cameras to deter fraudulent activities. Let’s put together a plan and process together to ensure you are set for when a security situation occurs.

Perform random inventory counts throughout the year. Waiting until year-end for physical verification can lead to losses for your dealership. Detect discrepancies early to prevent theft. Let’s put together a plan for regular inventory checks to ensure you are covered.

Dealership owners should sign Accounts Payable checks only after carefully reviewing underlying data. They should also regularly review Accounts Payable aging reports to determine if payments were properly posted.

Leverage verification technology and establish an internal audit program. These tactics help identify gaps in controls and prevent fraud.

If your dealership suffers due to events like tropical storms (or other weather-related disruptions), or because of data provider outages (such as hacks), Withum can guide you through insurance claims and help mitigate the impact on your business.

Dealership Fraud and Forensics Services

  • Contract Disputes: If your dealership faces a breach of contract, Withum can help you navigate the legal complexities and assess the impact on your business. Whether it’s delayed deliveries or quality concerns, negotiation and alternative dispute resolution (ADR) are key steps to consider before resorting to litigation.
  • Business Interruption Claims: If your dealership suffers due to events like tropical storms or other weather-related disruptions, Withum can guide you through insurance claims and help mitigate the impact on your business.
  • Shareholder Disputes: Withum assists in quantifying damages arising from disagreements among fellow owners, misuse of business funds, or improper asset usage. Their expertise helps resolve conflicts and protect your company’s interests.
  • Commercial Torts: If improper actions lead to income loss (e.g., fictitious employee payments), Withum can address these issues and safeguard your dealership’s financial well-being.
  • Intellectual Property: Withum protects your tradenames, trademarks, and other intellectual assets. If infringement occurs, they provide expert guidance.
  • Bankruptcy and Reorganization: In financial distress, Withum offers restructuring solutions and other options to stabilize your dealership.
  • Matrimonial Litigation: If an owner faces divorce, Withum serves as a trusted advisor during this challenging time.
  • Employment Damages: Withum assists in employment damages litigation, including cases of wrongful termination and failure to promote.

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Leadership

Tom Reck Partner
Thomas J. Reck

Partner

Saddle Brook, NJ

Francis X. O’Brien
Francis X. O’Brien II

Partner

Braintree, MA

Contact Us

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]]> Franchise https://www.withum.com/industries/industrial-and-consumer-products/franchise/ Fri, 12 Jul 2024 17:21:31 +0000 https://www.withum.com/?post_type=industry&p=123209 Navigating the unique challenges of your brand and industry is crucial for growth and profitability as a franchisee. Whether you aim to expand or enhance the profitability of your existing […]

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Navigating the unique challenges of your brand and industry is crucial for growth and profitability as a franchisee. Whether you aim to expand or enhance the profitability of your existing franchise portfolio, collaborating with a CPA firm attuned to your specific needs can accelerate your growth while improving profitability and cash flow.

Contact Us

Serving private equity firms, family and individual-owned operators, and investment groups, Withum’s Franchise Services Team offers the experience and a robust network of accountants and advisors tailored to tackle any challenges your business encounters so it can thrive.

As a franchisor, managing a brand also presents challenges, from managing intricate financial frameworks across a network of operators, ensuring compliance with tax laws across different jurisdictions, and optimizing operational efficiency to support both your bottom line and your franchisees’ success. Accurately forecasting financial performance to secure financing for expansion and mitigating risks associated with market fluctuations are areas where partnering with Withum, a seasoned franchise accounting, tax, and advisory firm, will help you avoid financial missteps and regulatory oversights that could impede your growth and operational effectiveness.

Franchise Industries We Help

  • Quick-Service Restaurant (QSR)
  • Casual and Fine Dining
  • Health and Wellness
  • Retail
  • Entertainment
  • Educational & Training
  • Service-Based
  • Travel

Franchise Trends and Challenges

Hiring and retaining employees continues to be a challenge, leading to increased labor costs and potential customer service issues within the industry. Investing in comprehensive training and development programs, offering a competitive benefits package, streamlining processes and technology, regularly seeking feedback from employees to understand their concerns and preferences, and prioritizing a positive company culture are a few ways franchise owners can bridge the labor gap.

Our Solutions for Labor Shortage

Multi-unit franchisees typically face unique accounting challenges. Keeping track of financial data across multiple locations and entities can be difficult. Not to mention, reconciling intercompany transactions can be quite burdensome.  Our solutions enable multi-unit franchisees to easily analyze performance of multiple locations, review consolidated financials at the snap of a finger, identify trends, and make informed business decisions.

Our Solutions for Accounting

Effective cash flow management enables franchisees to adjust to changing market conditions, make well-informed decisions about expansion and improvements to existing locations, allocate resources effectively, and be better prepared for unforeseen events. Proper cash flow management empowers franchisees to take proactive measures to capitalize on growth opportunities and mitigate risk.

Our Solutions to Cash Flow Management

A well-thought-out succession plan ensures there is a smooth transition of leadership and ownership, prevents operational disruptions, addresses financial considerations such as valuation and taxes, and provides overall peace of mind that allows franchisees to focus on current operations and strategic initiatives. Partnering with an advisor that understands the driving factors of value for your franchise business is critical. Whether you are planning for an internal succession or external succession, our team will see you through from start to finish.

Our Solutions to Succession Plan

Technology is advancing daily. Franchise businesses that do not stay on top of these advances will be left behind. An effective technology stack can help streamline operations, improve efficiency, enhance the customer experience, and provide access to real-time data and performance analytics, all of which lead to informed decision making and greater profitability.

Our Solutions to Technology Integration

We believe in a proactive, “No-Surprises” approach when it comes to taxes. We are dedicated to providing franchisees with cost effective business and individual tax preparation, planning, and consulting services to help minimize tax liabilities.

Our Solutions to Tax Planning and Compliance

Franchise Accounting and Advisory Services

Accounting and Tax Services

Advisory Services

Contact Us

For more information or to discuss your business needs, please connect with a member of our team.

Let’s Connect

Leadership

Lauren Naples
Lauren A. Naples

Partner

Red Bank, NJ

Derek White

Principal

San Francisco, CA

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]]> Dealership Outsourced Accounting https://www.withum.com/industries/dealerships/dealership-outsourced-accounting/ Fri, 12 Jul 2024 16:33:32 +0000 https://www.withum.com/?post_type=industry&p=123490 Withum provides flexible outsourced accounting services that adapt to your specific dealership needs. Whether you outsource functions on a temporary or more permanent basis, we tailor solutions that support dealerships […]

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Withum provides flexible outsourced accounting services that adapt to your specific dealership needs. Whether you outsource functions on a temporary or more permanent basis, we tailor solutions that support dealerships at various stages, ensuring efficient management of financial demands while preserving valuable resources.

Contact us

Our support is fully scalable, adapting to the unique needs of your dealership. From remote or onsite assistance, our experts provide:

  • Temporary Support: Ensure a seamless transition by training your staff to take over when we leave. No disruptions, just continuity.
  • Permanent Support: Seamlessly integrate our team into your dealership’s operations, delivering reliable and efficient accounting services. Consider us an extension of your team.

Who We Help

  • Accounts Payable
  • Controller
  • CFO (We can support with useful analytics)
  • Deal Poster (coster)
  • Office Manager

Short-staffed? Let us step in to ensure things remain running smoothly when you need the extra help. We will train new staff or get current staff up to speed quickly on new functions.

We always look out for your best interest when working at your dealership. We ensure that proper internal controls procedures to ensure best practices across all functions.

We ensure that dealerships have information available at their fingertips in order to analyze expenses, identify growth areas, and ensure operations are running smoothly

Dealership Outsourced Accounting Services

Partner with us to elevate your dealership’s financial management. Contact us today to explore how we can enhance your Dealership operations!

  • Reconciliations: Our expert team prepares reconciliations, including bank accounts, finance reserve accounts, and floorplan/wholesale statements, which include the resolution of all adjustments. We will also review canceled checks and check signatures.
  • Crisis Management: Withum supports dealership operations onsite and remotely when needed. Whether an incident of fraud is discovered, policies and procedures are being done incorrectly and need revamping, schedules need to be cleaned, staff requires additional training, or something else, we provide the necessary support and solutions in real-time to address the challenges at hand.
  • Clean Up: When provided with the right VPN and client software access either onsite or remotely, we can conduct a full clean of your books and records. During cleanups, we train dealership staff on best practices to ensure sustainability so things remain in order long after our work is completed.
  • Per Diem Controller Support: We provide support to dealership staff, training them to be self-sufficient. However, we can also take on these duties and be a seamless replacement when needed, assisting in all aspects of the accounting function. We are adaptable, fitting the unique needs of every dealership.
  • DMS Conversion / Implementation: We will assist with DMS conversion and implementation pre and post-conversion to ensure everything runs smoothly. We will provide recommendations assessing a dealership’s wants and needs to help you find the best product for your dealership. We will identify and create reports to ensure information is readily available when you need it and train staff to be able to access and utilize this information.
  • Dealership Regulatory Compliance: We have a team of experts who help dealerships get into and remain in compliance. We have staff certified by NJCar in compliance with all regulations, including but not limited to 8300s, sales tax, federal finance regulations, consumer protection and safeguarding, and wage and hourly employment compliance.
  • Dealer Accounting Staff Training: We provide comprehensive training, guiding dealerships every step of the way. Processes from cutting a check to reconciling an account to paying taxes, we identify and share best practices, training dealership staff both in-person, remotely, and via tailored videos to ensure complete knowledge transfer and success

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For more information or to discuss your business needs, please connect with a member of our team.

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