Perkins & Co

BACKGROUND

Introduce your business and what you do there.

I’m the finance manager at a software development firm.

OPPORTUNITY / CHALLENGE

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Perkins & Co?

We hired Perkins & Co for two different purposes. The first was to be the second set of eyes on the monthly financials and to do some bookkeeping work. The second was to assist us with tax returns and answer any tax questions.

SOLUTION

What was the scope of their involvement?

They visited our offices and we walked through our accounting procedures. Perkins & Co then gave some recommendations on best practices and things that we could tweak to make sure that the proper financial controls were in place. 

Additionally, they went over our tax situation to see where our business was at the time. They do their work in coordination with another firm. 

What is the team composition?

We work with four teammates in total. On the bookkeeping side, we work with a bookkeeper and her manager. On the tax side, we also work with two teammates.

How much have you invested with them?

We’ve spent about $20,000.

What is the status of this engagement?

My organization began working with Perkins & Co in early 2018 before I was hired, and the relationship is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

They have the tax expertise that no one in our firm really has which is great. Additionally, they filed amended tax returns for us and we got some money back. On the monthly financial side, it’s been good to have another set of eyes auditing our books, even though I have financial experience.

I’m the only finance teammate at our organization and, although we do have a CFO, looking over our books probably isn’t the best use of his time. So, it’s nice to have Perkins & Co looking at our books as well. 

How did Perkins & Co perform from a project management standpoint?

Their project management has been really good. When I email them, a lot of times they get back to me within the same day. If not, it never takes more than 2–3 days for them to get back to me. When a new tax was going to be implemented in Oregon starting in 2020, they proactively reached out to us six months before.

They let us know what was coming and walked us through what the impact would be. So, I’ve been pleased with their communication. Perkins & Co’s CFO, myself, and our CEO have conference calls. 

We communicate with them once we close off the first half of the year, when they’re ready to file our extension, and then again in the second half when they file the return. Other than that, we communicate ad hoc. Additionally, we communicate with the financial team once a month.

What did you find most impressive about them?

Their communication has been exceptional. When I have a question, I feel like I can send them an email and get a good answer. I don’t have to dig around for the answer myself. If we need to set up a call, they are good about finding time to walk us through the information if an email isn’t sufficient. Perkins & Co has definitely filled the knowledge gap that we had. 

Are there any areas they could improve?

Sometimes, we have to be conscious of their rates when we ask them questions. Price is always a consideration. 

Do you have any advice for potential customers?

Be prepared and make sure that you’re asking good questions, especially in the realm of taxes where there's lots of grey area. Any context or forethought that you can provide them with in terms of what you’re looking for will be helpful.