March 2005 Circle Update

These firms are frequently engaged in complex projects involving multiple offices, many staff members, and the integration of different technologies. Therefore they must rely on a degree of Project Management which is both more formal and more detailed than what is often done in smaller firms. The group was fortunate to have Rob McGillen from Grant Thornton LLP and Beth Plamondon from Larson Allen Weishair & Co LLP, both experts in their field, outline their methods. While there were some differences in approach from these two firms the common threads revolved around people, processes, and tools. As might be expected, there was a great discussion among the assembled group at the conclusion of the formal presentations.

Later in the day the group tackled the challenge of Email Archiving and Retention. A panel of Lamont Long from Crowe Chizek & Company LLC, Dave Cline from Moss Adams LLP, and John Bowles from Dixon Hughes PLLC each detailed what their firm is doing to address the problem. All three agreed that a combination of legal, technical, and management policy decisions shaped the actions taken by their firms. Some of the greatest frustrations occur when of these concerns conflict: some want to keep too much while others want to keep too little. Also of concern was the trade-off between relying on users’ judgment for “what to keep” as opposed to software tools which essentially archive everything. Each of these firms has taken a slightly different approach, and are at different stages of their implementation, but the discussion was spirited and lively. This was clearly a topic which had the attention of the group!

On the second day, the group delved into the challenges of smoothly integrating merger and acquisition candidates into their firms. Everyone had heard horror stories about (and some had experienced!) IT departments being told about impending mergers or acquisitions at the last minute and being expected to just “make it happen.” Joe Bongiovanni of JH Cohn LLP and Brian Prascius of Plante & Moran LLP made it clear that good results don’t just happen! Both had well laid out procedures and checklists to begin well ahead of the implementation date to ensure smooth transitions. Typical items considered where the age, condition, and brands of hardware being acquired and judging whether that equipment fit well into the firm’s support structure. Likewise, software inventories had to be reviewed to ensure all client tasks could be accomplished both before and after the merger while at the same time working toward firm-wide standardization. Both presenters emphasized the importance of knowing what the firm would look like on “Day 1” of the merger. Strategies for actually carrying out the combination (do it over a long weekend!) were discussed as well. Since these firms, as well as many others, are almost continuously evaluating growth prospects through merger and acquisition, the topic was both timely and important!

As always, the session began with a Progress Report to review achievements since the last meeting, and ended with a Game Plan for tasks to be accomplished before the next meeting. BTC #4 will meet again on June 21 and 22, 2005. If your firm has annual revenues of $50 million or more and you are not yet a member of this dynamic group of industry leaders, contact Eric Hunt (erich@boomer.com) at 888-266-6375 Ext. 19 to find out how you can become one of the best getting better.