Parallel 42 Consulting

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CFOs and ESG Reporting: Navigating the Path to Sustainability Join the conversation on ESG reporting with insights from our latest article authored by Ted Dann, CPA, CRM, ARM and Donna Galer. Discover key considerations for CFOs in setting, measuring, and reporting on Environmental, Social, and Governance (ESG) metrics. Read more: https://lnkd.in/gP3cQ5rU #CFO #ESG #Sustainability #Reporting #Finance #CorporateGovernance #Leadership

Exploring the ABCs of Virtual Currency Taxation Curious about how virtual currencies like Bitcoin & Ethereum are taxed? Dive into our latest article authored by Sidney Kess, JD, LLM, CPA and Thomas Riggs, JD, CPA. Gain insights into valuation, reporting, and the latest regulatory developments in the digital asset space. Read more: https://lnkd.in/eKEdFkfw #VirtualCurrency #Taxation #Blockchain #Crypto #Finance #IRS #DigitalAssets

Leveraging Data for Client Success: Six Key Indicators As economic uncertainties loom, CPA firms are seeking avenues for growth and client retention. Yet, often overlooked is the wealth of insights embedded within existing client data. Here are six data-driven indicators to gauge client success and unlock growth opportunities: Service Delivery Efficiency: Monitor project timelines, budget adherence, and team focus to understand engagement health and identify early warning signs. Cross-Collaboration: Break down internal silos and encourage collaboration across practice areas, industries, and geographies to enhance client relationships and foster growth. Client History Analysis: Utilize firm data to map out client journeys, anticipate future service needs, and prioritize growth opportunities based on demographics and past behaviors. Team Expertise Evaluation: Assess employee qualifications, experience, and performance metrics to ensure clients are served by knowledgeable professionals who understand their business. Financial Management Signals: Track invoicing, collections, and other financial indicators to forecast client success and identify potential risks or growth opportunities. External Market Insights: Tap into external market intelligence to uncover industry trends, competitor dynamics, and client-specific growth opportunities beyond internal data sources. By harnessing the power of data-driven insights, CPA firms can enhance client relationships, drive growth, and navigate uncertain economic landscapes with confidence. #DataAnalytics #ClientSuccess #CPAFirms #BusinessGrowth #MarketIntelligence #FinancialManagement

Private Equity is Reshaping Public Accounting: Marketing Strategies to Adapt or Thrive Private equity is reshaping the public accounting landscape, with projections suggesting 20% of CPA firms will be private equity-sponsored within five years (source: Daniel Hood, "PE and accounting: The new formula," Accounting Today). Even firms avoiding private equity will feel the competition intensify for top-tier clients. Efficiency Is Key: Embrace tools and processes that enhance productivity and consistency, benefiting both private equity-backed and partner-led firms. Recruiting and Retention: Understand your firm's culture and client perception, utilizing web-based CRM tools like HubSpot for efficient recruitment. Niche Specialization: Cater to a niche market and offer specialized services to enhance your firm's value proposition and client engagement. Advisory Services: Tailor advisory services to align with your firm's niche, elevating its competitive edge and reinforcing its role as a trusted advisor. Value-Based Pricing: Move beyond hourly billing to value-based pricing, signaling differentiation and facilitating smoother client engagements. In this dynamic landscape, adaptability is key. Forward-thinking CPA firms, armed with a distinct identity and modern approach, are poised to thrive amidst industry transformation. #PrivateEquity #CPAFirms #MarketingStrategy #BusinessGrowth #Efficiency #AdvisoryServices #ClientRetention #NicheMarketing

CFOs are increasingly becoming key players in driving sustainability efforts within organizations, recognizing the significant impact such initiatives can have on supply chains, talent retention, and overall business strategy. In a recent article, I explore the multifaceted role of CFOs in fostering sustainability: Supply Chain's Massive Impact: CFOs are urged to take a keen interest in the layers of their supply chain ecosystem, as transparency and sustainability efforts become critical components of organizational success. Sustaining Talent: Beyond traditional sustainability measures, some CFOs, like Candice Holcomb, are spearheading initiatives to retain talent and revitalize communities, combating brain drain and fostering economic growth. Finance and Legal Collaboration: Dave Curran emphasizes the importance of aligning sustainability strategy with overall business objectives, advocating for closer collaboration between finance and legal teams to address systemic sustainability challenges. As CFOs expand their roles to include sustainability stewardship, they wield significant influence in shaping a more resilient and responsible future for organizations and communities alike. #CFO #Sustainability #SupplyChain #TalentRetention #Collaboration #ESG

Strong process management and effective leadership play pivotal roles in ensuring a seamless reporting process, especially in the role of a CFO. As highlighted in my recent article, timely release of earnings communicates confidence and competence to stakeholders. Yet, achieving this requires meticulous attention to process efficiency and data integrity. If you're aiming to enhance your organization's reporting cycle, consider these key areas for improvement: 1️⃣ Quality Data and Consistent Formats: Ensure reliability in your financial data and streamline reporting templates to avoid unnecessary delays. 2️⃣ Break Down Your Process: Design a standardized process that outlines responsibilities across departments and regions, enabling smoother collaboration and quicker turnaround times. 3️⃣ Act as Champion for Improvements: Leverage your leadership position to identify bottlenecks, provide training, and drive continuous improvement efforts. By implementing these strategies, you can not only meet reporting deadlines but also enhance stakeholder confidence and drive organizational success. #CFO #FinancialReporting #Leadership #ProcessImprovement #DataQuality #Efficiency 📈

Asset managers are seizing opportunities in the insurance sector! In Q3 earnings calls, executives emphasized the potential for growth in insurance assets under management (AUM). With between 6% to 50% of total AUM tied to insurance, the sector presents a significant avenue for expansion. Learn more about the strategies and trends shaping this dynamic landscape: https://lnkd.in/d66dY9x4 #InsuranceSector #InvestmentTrends #AssetManagement

Exciting developments in regulatory landscape! The SEC's recent adoption of new rules expands regulation of private fund advisers, aiming to enhance transparency and investor protection. Here's a breakdown of key changes and their implications for the middle market: Quarterly Statements: Registered advisers now required to provide detailed quarterly statements to investors, offering insights into fund performance, costs, fees, and more. Audit Requirement: Private funds advised by registered investment advisers must undergo annual audits, ensuring compliance with industry standards. Adviser-Led Secondaries: Advisers now mandated to obtain fairness or valuation opinions for secondary transactions, enhancing transparency and fairness. Restricted Activities: Certain activities restricted, aiming to protect investor interests while allowing for appropriate disclosures and consents. Compliance Timeline: Staggered compliance dates provide firms with time to adapt and implement necessary changes. Stay informed and prepared for the evolving regulatory landscape! #SEC #RegulatoryCompliance #PrivateFunds #InvestorProtection