Insights
DoorDash Data Breach Impacts Millions
Share So yet another massive data breach hits, this one at DoorDash. Although the details are still coming together, what we do believe factual is that over 4.9 million customers, delivery workers and merchants had their information stolen by hackers. The DoorDash data breach was reported as having occurred on May 4, 2019. Why did…
Withum Named in Crain’s 2019 List of Notable Women in Accounting & Consulting
Share Karen Kowgios and Nadia-Maria Matthie Named 2019 Notable Women in Accounting & Consulting Karen Kowgios, CPA, Partner, Practice Leader of Withum’s Theatre, Entertainment and the Arts team and Nadia-Maria Matthie, CPA, Partner, Team Member of Withum’s Benefit Plan Practice, Labor Organizations Practice and Multiemployer Group have been named in Crain’s Notable Women in Accounting…
Case Study: How a Current State – Future State Assessment Led to a Complete Optimization of Business Systems
Download a PDF of this case study. Executive Summary Withum’s Management Consulting Services (MCS) Team used the Customer Journey technique to quickly gain an understanding of a manufacturing and supply company’s business. The assessment served as a roadmap to help them tackle their primary accounting and inventory issue. In addition, it also uncovered a roadblock…
Microsoft Dynamics 365 Business Central: Why It’s Right for the Professional Services Industry
Projects frequently fall short of expectations due to various systems that are used to track project components but are not integrated. The information visible in these environments do not provide a consolidated view of the project at any point in time. The increased overhead required to consolidate the information from the disparate systems requires more…
Guide: 5 Manual Processes Organizations Must Replace with IPA
Six Benefits of Cloud-Based Accounting Systems for Physician’s Offices
With the digital tools available today, it probably comes as no surprise that technology can be used in just about every industry and in everyway within an accounting department. But while some physician’s practices and surgery centers may be resistant to new technology and change that comes along with it, the efficiencies and results of…
Budgeting vs Forecasting: When Last Year’s Performance Isn’t Enough
No matter a company’s size or industry, evaluating the previous year’s performance is an annual exercise that business executives approach with varying amounts of trepidation. The challenge: how can we allocate next year’s budget in a way that will maximize the probability of growth and success? And so, anxious decision makers typically default to the…
Private Equity Considerations in Physician Acquisitions
Private equity firms have entered the healthcare arena in the past few years, and their presence is continuing to accelerate. To give some perspective, an article from Modern Healthcare regarding 2019 activity states, “There were 45 physician practice transactions that were announced or closed in the first quarter, which is on pace to surpass the…
Determining Reasonable Compensation in Physician Practices
The valuation of a medical practice, or any business for that matter, typically encompasses the determination of “reasonable” or “replacement’ compensation. In small businesses/practices, the compensation paid to owners is more a function of available cash flow as opposed to the services provided. The theory of reasonable compensation is to restate the earnings of an…