Top Ten, an IT Hardware Maintenance Company headquartered in Germany, needed an accounting firm that could keep pace with its growing U.S. business. Their original accounting firm no longer had the depth of expertise or level of responsiveness they required. Top Ten’s Germany-based CFO handled finances for Top Ten’s U.S. and European subsidiaries so, with an eye toward growing the U.S. business; he decided to visit the New Jersey office to consult with management and identify an accounting partner that could meet all its needs. After researching a number of firms, he narrowed the field to three. Nisivoccia was one of the three accounting firms he chose to meet with in person. Nisivoccia sent Mike Smith, a CPA who had joined the Company a few years prior, to introduce the firm’s capabilities and approach. Mike’s description of Nisivoccia’s broad resources coupled with his own substantial expertise, convinced the CFO that Nisivoccia was the right choice. Before returning to the home office, the CFO introduced Mike to Anthony, the co-owner and president of Top Ten’s U.S.-based business, and left them to work together.
Challenge
Provide a more robust foundation of expertise that Top Ten could depend on as the business grew and diversified. Ensure that cash flow, U.S. returns and foreign tax filings are 100% accurate. Help evaluate business opportunities and offer a sounding board for management to reach out to on financial issues.
“Mike’s accounting expertise is unmatched, and the team at Nisivoccia has always been so responsive to anything we’ve needed. I know I can count on him to give me the right answers. The fact that we actually enjoy working together – well – that’s just a bonus.” said Anthony.
Solution
While Mike is a numbers guy, Anthony’s focus has always been sales and operations. Their complementary skill sets worked well. In addition, the two connected immediately on both a professional and personal level. The men were close in age, shared an irreverent sense of humor, and most importantly, they respected each other’s professional acumen. Early in the relationship, Mike visited Top Ten’s offices regularly. He committed himself to gaining a solid understanding of the company’s business model, operations, and financials so he could offer business perspective and helpful financial advice.
Initially, Mike provided typical accounting services such as monthly compilations, business tax returns, foreign tax filings etc. When Top Ten went through some growing pains, Mike was right there to work through everything with them. As time went on, Mike’s advice was sought out more often and in different ways. In fact, when Top Ten decided that it needed to find a new Enterprise Resource Planning (ERP) system, Mike worked with management and staff to evaluate and implement the new system.
An investor and entrepreneur, Anthony also wanted to diversify into other business segments. Anthony began looking to Mike for advice in those areas as well. Over time, Anthony bought several commercial buildings, including the building that Top Ten occupies. Using Nisivoccia’s deep resources in commercial real estate, Mike was able to help him identify opportunities and evaluate each property for profitability and investment value. Mike now oversees the accounting for those business endeavors.
Result
Like all companies, Top Ten has faced challenges during its 2+ decades in business. With Anthony’s leadership, Nisivoccia’s deep resources, and unwavering support from Mike; Top Ten has overcome its obstacles and continues to grow. As a testament to the trusting relationship they’ve built over the last decade, Mike now handles Anthony’s personal taxes and finances too.
Oh, and besides that, Mike is often found in attendance at Anthony’s family functions and parties. What started as a cold call has evolved into a strong professional partnership as well as a friendship.