rsm's Impact
> Integrated solutions for the middle market
RSM US LLP FY24
Impact Report
RSM has deep and established connections with a wide range of industries. We pride ourselves on keeping up to date with the needs of our clients and, perhaps more importantly, what they may need in the future.
Here are some examples where our leading-edge knowledge intersected with our extensive experience in assurance, tax and consulting to form a winning combination.
It’s never a great day for a bank when the FDIC gives you a list of things to fix.
One regional bank found itself a bit flat-footed when it was the subject of a full-scope, on-site examination of its performance. While the bank had plans to update their risk model function, it hadn’t had a chance to integrate fully with the systems in place. That meant multiple matters requiring attention (MRAs) and matters requiring immediate attention (MRIAs) and a tight deadline to resolve them.
With the understanding that hasty solutions are not always the most strategic, the bank engaged RSM to help build the program. RSM’s experience with financial institutions and with FDIC regulations and requirements meant that our valuable insight not only resolved the findings from the examination but also set the bank up for the maturation of its program as the organization grew.
Ultimately, the bank was able to clear the outstanding MRAs and MRIAs and receive a positive score. Better yet, it can now go confidently into the future, knowing that their collaboration with RSM has improved its risk profile.
When a Midwestern industrial product company ran into an inquiry from the Dutch taxing authority, the company turned to its international tax advisor, RSM.
Initially, the company thought it could handle the inquiry with its in-house finance group but learned there was a significant knowledge gap when it came to pricing and international tax. The company was ultimately not equipped to provide the detailed reports demanded in the inquiry, nor could it spare the staff to focus on it. After a drawn-out and ultimately unproductive back and forth with the Dutch taxing authority, the company’s chief financial officer asked RSM to work with its team to resolve the issue.
That did the trick. RSM provided a detailed memorandum explaining the organization’s structure, business model and pricing policies. Satisfied with the complete view of operations, the Dutch taxing authority stopped the inquiry, and the company had a model for addressing questions about its transfer pricing in the future.
Manufacturers depend on modeling and projection tools to inform decisions regarding personnel, efficiency, processes, volume and where to invest for the highest return. But there can be a thousand ways to model and interpret data, with nearly unlimited potential outcomes.
RSM’s digital twin model made all the difference. Through in-depth discovery, including thorough collection of existing data and discussion of future state scenarios, RSM was able to work with the company to build a model of a similar system, run simulations and then modify the model to reflect possible scenarios and questions.
RSM then summarized the findings for key stakeholders, giving them the information needed to implement necessary production shifts to address the anticipated demand. These insights led to informed decisions that helped the company meet its targets and saved valuable time and money on investments that would not have yielded such positive results.
Magic Spoon took their business from online sales to national retail chains in just a few years, and they have no plans of slowing down. But to make it onto more breakfast tables, the healthy cereal brand needed to implement an information technology (IT) strategy and an enterprise resource planning system that will take the company to the next level. The Magic Spoon team is lean and busy, and they needed to work with a team that can take the ball and run with it.
Enter RSM and Microsoft Dynamics 365 Business Central. A thorough understanding of the systems already in place for Magic Spoon, as well as deep experience in the food industry, enabled RSM to set up a seamless solution by the deadline. Now Magic Spoon is in more than 7,000 retail locations, and the data and insights provided by Microsoft Dynamics 365 Business Central are powering the company’s future marketing and promotion efforts.
Anyone who interacts with local government, from city employees to citizens, will agree the bureaucracy can be a pain point. Actions as routine as permits, information and even simple Q&As can be cumbersome processes for all involved, costing time and resources.
The Canadian City of Kelowna wanted to smooth out those processes. The city engaged RSM, which brought in Microsoft. Tapping into our knowledge of the needs and challenges of municipalities and residents, RSM used Microsoft technology to implement a secure and scalable AI solution to streamline everyday processes and free up valuable time and resources for the city and their residents.
Kelowna is among the first cities in Canada to implement this technology, and RSM is proud to be a part of that milestone in technology and civic engagement.
When it comes to private equity, RSM dialed into decades of knowledge and saw a need: a holistic solution that brings the full power of our firm to the private equity and real estate ecosystems, from fund administration and accounting, tax, technical advisory and beyond. That’s when Fund Services+ was born; it’s an integrated one-stop shop for our clients with the highest quality professionals and the option to take advantage of additional services that RSM already has experience in, such as valuation, planning, environmental, social and governance (ESG), regulatory compliance, and beyond.
From our emerging fund clients coming in around $500 million to multibillion-dollar firms, we’ve engaged with several clients in the last year to take their back-office operations to the next level.
RSM offers the most qualified people, premier technology and industry leaders’ knowledge to conquer vendor fatigue and streamline private equity and real estate firm needs under one roof. We offer scalability and sustainability with Fund Services +.
