Market Research Report: Baker Tilly US, LLP
Overview
Baker Tilly US, LLP is a leading advisory, tax, and assurance firm based in Chicago, Illinois. Known as the ninth-largest CPA and consulting firm in the United States, Baker Tilly delivers a wide spectrum of professional services designed to foster business growth and sustainability. Through its affiliation with Baker Tilly International, the firm extends its service capabilities globally, providing clients a significant competitive edge both domestically and internationally.
Leadership
Executive Team
The leadership team at Baker Tilly is instrumental in shaping the firm's strategic agenda and maintaining excellence in service delivery. Significant members include:
- Jeffrey L. Ferro: Chief Executive Officer, bringing over 40 years of experience in the accounting industry, renowned for his strategic insight and leadership.
- Sonia Webb and Amy Ward: Recently appointed to enhance the firm's financial and human resource operations, respectively, aligning with the organization’s strategic goals.
- Jean Mathews: Chief Financial Officer, directing the firm's financial strategies and leveraging her extensive finance expertise.
- Chuck Droege: Chief Operating Officer, tasked with optimizing the firm's operational framework to ensure efficiency and effectiveness.
Recent Developments
Baker Tilly continues to showcase dynamic growth and commitment to leadership development:
- Recent strategic leadership appointments, reflective of an ongoing commitment to innovation and strategic growth.
- Admission of 41 new principals as of June 2024, underscoring Baker Tilly's dedication to nurturing leadership and professional talent within the organization.
Company Recognition
Baker Tilly's inclusive work culture has earned it accolades such as being recognized among the "Best Places to Work" for women. Furthermore, the firm has secured significant investment from Hellman & Friedman and Valeas Capital Partners, enhancing its strategic positioning and growth potential within the CPA sector.
Global Presence
As part of Baker Tilly International, a top 10 global professional services network, Baker Tilly US leverages a worldwide network of professionals. This affiliation enhances the delivery of comprehensive solutions in tax, advisory, assurance, and legal services, tailored to meet the evolving needs of clients across the globe.
Competitive Landscape Analysis
Introduction
Baker Tilly US operates within a competitive professional services environment, contending with prominent firms offering similar services in audit, tax, assurance, and consulting. A thorough understanding of the competitive landscape is essential to identify potential threats and opportunities.
Primary Competitors
Grant Thornton
- Grant Thornton is a global leader in professional services, with annual revenues surpassing $1.9 billion. Operating in 53 offices worldwide, it offers audit, tax, and advisory services. The firm's commitment to quality and personalized client relationships is supported by a global workforce of over 62,000 professionals.
RSM US LLP
- RSM US LLP is distinguished as the premier provider of assurance, tax, and consulting services for the middle market in the US. With a robust presence across North America and a network spanning 120 countries, RSM delivers targeted insights and strategic solutions, supporting growth through personalized client engagements and technological advancements.
Crowe LLP
- Established in 1942, Crowe LLP provides audit, tax, advisory, and consulting services with approximately 4,220 employees. Serving over 2,000 clients globally, including Fortune 500 companies, Crowe focuses on delivering expert solutions across various sectors.
Moss Adams
- Positioned primarily in the western United States, Moss Adams offers a full suite of accounting, consulting, and wealth management services. With operations in over 30 locations and as a member of Praxity, AISBL, it extends strategic solutions to meet international business demands.
EisnerAmper
- EisnerAmper is celebrated for its comprehensive audit, accounting, advisory, and tax services. The firm, established in 1963, targets high-net-worth individuals and enterprises, prioritizing client relationships and tailoring services to ensure compliance and accountability.
Strategic Insights
To retain a competitive edge, Baker Tilly US must:
- Differentiate its service offerings and maintain stringent quality standards.
- Cultivate strong, personalized client relationships.
- Embrace technological innovations to enhance service delivery.
- Consider strategic acquisitions and expand its global reach while upholding integrity and professional ethics.
Understanding the competitive dynamics underscores the importance of Baker Tilly's unique value propositions to its clients and potential strategic collaborations within the sector.
