Brown Smith Wallace professionals bring a unique perspective to client service. Many of our subject matter experts previously worked at Big 4 accounting firms, large corporations or have otherwise developed a breadth of industry experience. The in-depth knowledge and expertise that this experience affords them is matched with our firm’s hands-on client service.
Our professionals not only serve clients throughout the St. Louis metro, but also the greater Midwest, the U.S. and internationally. We have experience serving clients across the United States and around the globe. Additionally, as an independent member firm of Moore Stephens North America, we can expand your reach and connect you with knowledgeable professionals across the country and the globe.
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- Fast Track Assessment
At a large alcohol distributor, we developed a process to allow them to effectively manage the financial challenges of the evolving beer and liquor industries. Through our fast-track assessment approach, we identified opportunities with their core working capital and financial planning and analysis (FP&A) process. Deliverables included five-year financial planning and overhead allocation models and sales and warehouse management strategies.More
- Smooth Integration
At a global beverage manufacturer, we assisted with integration of multiple craft breweries/brewpubs into a unified accounting structure using OrchestratedBEER and SAP, including mapping of the chart of accounts structure. We also defined the partnership accounting requirements for a new, innovative product.More
- Independent ERP Software Evaluation and Process Mapping Leads to Successful Selection and Implementation
Challenge: Foam Supplies, Inc. is the largest independent polyurethane systems supplier in the U.S., located in Earth City, MO. They own two manufacturing facilities in the U.S. and five international offices and were utilizing an ERP system with more than 50 users globally.
- How Business Process Improvement Leads to Improved Operations
We use methodologies including Lean Six Sigma, benchmarking and value stream analysis—a technique for eliminating waste—to help organizations improve and optimize their business processes.
- Sourcing Support for Technical Contracts
Challenge: A recently divested company was required to negotiate new contracts with key suppliers. The supplier was considered a partner and critical for their business success. However, they were a much larger firm and seeking a significant price increase to reduce the volume related to a smaller divested business.
- Data Analysis Improves Payables Forecasting
At a mid-tier consumer products company, Brown Smith Wallace was engaged after the payables forecast was exceeded by three times in the actual payment run that week.
- Cash Flow Assessment
A regional retailer lacked the tools and processes needed to understand and forecast cash flow.
- Source-to-Settle Process Review
A local health care provider sought ways to improve their vendor and procurement strategy and to minimize risk.
- Roadmap for Standardized Procure-to-Pay Processes
A global insurance organization recognized the need to enhance the efficiency and effectiveness of procure-to-pay related internal controls.
- Property Tax Assessment Appeals Result in 21.5 Percent Value Reduction
Challenge: The client received a dramatically increased property value assessment after converting and renovating a warehouse into a food manufacturing facility, which impacted the client’s tax liability. They asked Brown Smith Wallace to investigate the new property assessment for accuracy.
- Lowering Compliance Costs
Challenge: A client was looking for a local auditor to help lower their costs, provide additional consulting pursuant to business growth and offer advice on their credit card security practices and compliance (PCI DSS).
- Preventing a Wireless Hack
Challenge: A client was skeptical that its outsourced technology partner securely implemented their guest wireless network. The client did not have the expertise in-house to test this.
- Maturing a Patch Management Process
Challenge: We presented disappointing year-over-year results to the client’s audit committee that the organization’s system and application patch management processes were leaving many systems vulnerable. The organization’s lean IT department didn’t allow for a new resource to manage this critical process.
- Building Secure Web Applications
Challenge: The client had fragmented and inconsistent processes when they developed custom websites for their clients. This led to applications that were vulnerable to common web attacks. After getting dinged on audits and failed vulnerability scans, they asked us to recommend some best practices.
- New Framework for Financial Reporting Valuation Results in Zero Audit Questions for PE Firm
- Forming a Captive Insurance Company
Challenge: A multi-billion dollar contractor was looking for ways to cut costs and improve profitability in light of recent economic conditions. Brown Smith Wallace helped it establish a captive insurance company. We advised the company on how to set up its captive to serve as a reinsurer so that it would cover the layer previously retained via a large deductible policy. This enabled the client to document and capture all of its subcontractor's risks in order to pass the costs onto the subcontractors.
- Court Case Highlights Importance of Reputable Service Providers
- State Tax Apportionment Strategy Saves Company $850K
- Establishing Nexus
Challenge: A company, doing business entirely within one state, was filing its tax return correctly. However, it was discovered that if the company was subject to allocation and apportionment the majority of its sales would be allocated outside its home state.
- Consolidating Results
Challenge: During the review of a new client's state tax return, we noticed the company had filed separate state income tax returns since the company's inception. This resulted in an elected over payment.