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Luis Gallardo, Managing Principal, Digital Platforms & Analytics Leader.Addressing these needs and more is Cherry Bekaert, a certified public accounting and consulting firm. The company offers tax, audit, and advisory services to multinational corporations and midmarket entities as well as private businesses, non-profit organizations, government establishments, and start-up firms in the US. Cherry Bekaert also provides business valuations and litigation support.
For over 70 years, the firm has helped thousands of clients achieve their financial, operational, and strategic goals. The company's key differentiator is that it offers clients the resources and extensive services normally associated with national firms, coupled with a local firm's personal relationship, value-based fee structure, and service continuity. In addition, more than 1,200 experienced professionals of the company work closely with clients for all their accounting, audit, tax, and consulting needs. In effect, the company brings the best of service and software expertise to deliver comprehensive solutions for their clients. Cherry Bekaert is therefore uniquely positioned to impart high-quality, cost-effective, and practical advice to its clients.
WE DON'T JUST GIVE YOU THE TOOLS OR IMPLEMENT THE SOLUTION. OUR COMPANY ALSO GUIDES TO ADOPT THE PROCESSES AND TECHNOLOGIES EFFICIENTLY TO DRIVE BUSINESS VALUE
Cherry Bekaert Digital has extensive tax and audit-related knowledge in nine different domains: Professional services, technology, healthcare and life sciences, private equity, real estate and construction, industrial manufacturing, hospitality and retail, government and not-for-profit. Cherry Bekaert serves as a valued advisor to thousands of clients by guiding them on important operational and financial matters. "We don't just give you the tools or implement the solution. Our company also guides to adopt the processes and technologies in an efficient manner to drive business value." says Luis Gallardo, Managing Principal, Digital Platforms & Analytics Leader, Cherry Bekaert.
The company strives to be the preferred technology solutions and digital platforms firm empowering organizations with prescriptive guidance, business intelligence, and process automation to maximize productivity and financial performance. To assist clients with competitive digital readiness, Cherry Bekaert Digital Advisory offers analytics expertise and digital platforms to drive innovative insights and deeper business value. "We help our clients leverage platforms such as Microsoft Power Platform and Salesforce's business intelligence tools to not only get a better understanding on tax and audit services but also assist them in driving their digital transformation initiatives," says Gallardo.
Cherry Bekaert’s Digital Advisory services and solutions deliver on five key business outcomes via its digital advisory services: understanding customers better, optimizing operations, fostering innovations for growth, workforce enablement, and business protection.
Gallardo recalls the story of a client in the energy industry who wanted to use Microsoft Power BI for data visualization but couldn't leverage the solution to the fullest owing to operational silos. Cherry Bekaert automated certain client processes with Microsoft Power Automate and then integrated them with different applications in their portfolio to bring in key pieces of data. As a result, their process has become more efficient in data visualization enablement and sharing and collaborating of data to make better business decisions.
Scripting several such success stories, Cherry Bekaert's professionals actively engage with leading organizations to foster innovative and emerging growth-oriented business outcomes.
Staying ahead of the curve, the company is looking to expand its fund-level management, transaction advisory, and portfolio servicing capabilities while enhancing its ability to deliver high levels of value to financial and strategic clients executing merger and acquisition growth strategies. They recently acquired three companies which have helped them gain an edge in their target niches. Today, Cherry Bekaert is ranked amongst the top 25 accounting firms in the United States. "We are not just doing a transaction and moving on but we're looking toward building long term relationships that has all those pieces and parts of our business of tax and audit relationships and advisor relationships," concludes Gallardo.
Facing Market Uncertainty, Private Equity Finds Stable Ground: Cherry Bekaert Releases 2022 Year in Review
Wednesday, February 15, 2023
RALEIGH, N.C - Private equity has seen it all in the last three years: from the global market shutdown in 2020, to the rebound that pushed deal activity to record highs in 2021, and then unprecedented macroeconomic headwinds in 2022.Cherry Bekaert's Private Equity 2022 Year in Review report examines the major trends in private equity of the last year, current challenges facing the market, and what it may mean for private equity dealmaking in the months to come.
Although unfavorable economic conditions and continued global tensions may dampen enthusiasm for dealmaking, investors remain positioned to take advantage of opportunities in the new year.
Here are some of the key findings from Cherry Bekaert:
• Despite cautious approach, M&A activity remains above the pre-pandemic levels of 2019. Shifting economic conditions have resulted in a more tentative investment environment, but overall private equity activity suggests a return to historical averages.
• The technology industry's golden era experiences a downward shift. Higher discount rates and contracting multiples contributed to sharp declines in valuations in the technology industry. With a 25 percent pullback in year-over-year deal volume, the segment experienced a dramatic retreat.
• Healthcare continued to show resiliency. Long touted as a recession-proof segment, the healthcare M&A sector continued to show growth well into 2022. Overall private equity investments in healthcare finished well ahead of the previous highwater mark set in 2020.
• The industrial industry returned as a bright spot for deals. Smart manufacturing and digital transformation contributed to heightened investor interest. The industry continues to benefit from fiscal stimulus programs and appears well positioned to realize growth in 2023.
• Portfolio company optimization and private credit find strength, while carve-outs present areas of opportunity. In the face of economic headwinds, investors are finding creative ways of structuring deals and optimizing portfolio companies. Trends include the rise of private credit and an increase in corporate divestitures/carve-outs.
• There's no quick fix; the resilience of M&A and private equity will be tested in the year ahead. Dealmaking will continue ahead of historical averages but may be comparatively different than the last three years. High interest rates, uncertain economic conditions and prevailing macro headwinds may suppress activity and test segment stability.
"A maturing private equity industry positioned fund managers to be better equipped to respond to economic threats and opportunities," said Scott Moss, Managing Partner for Private Equity and Transaction Advisory Services at Cherry Bekaert. "The continued availability of record levels of dry powder coupled with shrinking valuations could create buying opportunities in the year ahead."
Company
Cherry Bekaert
Management
Luis Gallardo, Managing Principal, Digital Platforms & Analytics Leader.
Description
Cherry Bekaert is a leading accounting and consulting firm with offices throughout the United States which include multinational corporations, private businesses, non-profit organizations, governmental entities, emerging firms, start-ups, and successful individuals. The company strives to be the preferred technology solutions and digital platforms firm empowering organizations with prescriptive guidance, business intelligence, and process automation to maximize productivity and financial performance. To assist clients with competitive digital readiness, Cherry Bekaert Digital offers analytics expertise and digital platforms to drive innovative insights and deeper business value.
