Raich Ende Malter & Co. LLP

BACKGROUND

Introduce your business and what you do there.

We are a mental health facility, and I am one of the owners.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Raich Ende Malter & Co. LLP?

They were hired to handle all of our bookkeeping and accounting.

SOLUTION

What was the scope of their involvement?

They handled everything, including tax filing, payroll, and all other financial tasks that we needed assistance with.

What was the team composition?

We worked directly with their head accountant, and he had a couple others working on various tasks for us as well.

How did you come to work with Raich Ende Malter & Co. LLP?

They were in the same building as we were, so we decided to work with them.

How much have you invested with them?

We paid them a total of $85,000.

What is the status of this engagement?

The partnership began in July 2017 and went until November 2018.

RESULTS & FEEDBACK

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

They marketed themselves to us with one price point, and then changed everything as soon as they took on the job and left us with a big bill. The problem wasn’t that they didn’t perform the services, it was just that their fees kept increasing. We even talked to a lady from their customer service team who said they would reduce the charges, and then they never did.

Even if their pricing had stayed the same, their services were nothing out of the ordinary.

How did Raich Ende Malter & Co. LLP perform from a project management standpoint?

They were terrible about communicating any of the pricing information once we had already started working with them. We just received higher and higher invoices out of the blue, and then when we asked them about it they said they would take care of it and then never did a thing.

What did you find most impressive about them?

Their team presents themselves well, but unfortunately, they just don’t follow through.

Are there any areas they could improve?

One of their people in charge isn’t even an accountant, she’s just a partner, so she’s not up to date on tax law. Anytime there were changes to the law, we had to be the ones to bring those to them so that we could get the full value we deserved.

I think it would significantly benefit them to both work on their communication skills and to become more familiar with updates to their field.

Do you have any advice for potential customers?

Have a concrete contract with them, and just do your homework so that you know where you stand and are able to clear up any billing discrepancies if you find them.