Eide Bailly LLP: Comprehensive Company Profile
Background
Overview
Eide Bailly LLP is a certified public accounting and business advisory firm established in 1917. With over a century of experience, the firm has grown into one of the top 20 accounting firms in the United States, offering a wide array of services including tax, audit, and consulting. Eide Bailly operates more than 50 offices across the U.S. and India, serving a diverse clientele across various industries.
Mission and Vision
Eide Bailly is committed to fostering impactful actions by growing its people, elevating clients, and strengthening communities. The firm's mission emphasizes connectivity, enabling it to serve clients and each other effectively to address complex challenges.
Industry Significance
As a member of HLB International, a global network of independent accounting and advisory firms, Eide Bailly leverages international resources to provide comprehensive services. The firm's extensive history and broad service offerings position it as a significant player in the accounting and business advisory industry.
Key Strategic Focus
Core Objectives
Eide Bailly focuses on three key business challenges: performance, security/compliance, and future readiness. The firm aims to provide specialized knowledge, forward-thinking solutions, and industry depth to help clients optimize performance and prepare for future challenges.
Areas of Specialization
The firm's service offerings include audit and assurance, tax, advisory, outsourced and managed services, and digital solutions. These services are tailored to address clients' needs in digital transformation, optimization, and future readiness.
Key Technologies Utilized
Eide Bailly employs advanced technologies in data analytics, technology consulting, implementation and integration, and cybersecurity to deliver comprehensive solutions to clients.
Primary Markets Targeted
The firm serves a diverse range of industries, including healthcare, manufacturing, construction, and financial services, among others. Its broad industry expertise allows it to address the unique challenges faced by various sectors.
Financials and Funding
Revenue
Eide Bailly reported net fees of $705 million in its latest fiscal year.
Funding History
The firm operates as a private partnership and does not publicly disclose funding information.
Pipeline Development
Service Expansion
Eide Bailly continually expands its service offerings to meet evolving client needs. Recent developments include enhanced digital solutions and advisory services to address emerging business challenges.
Timelines for Milestones
The firm has a history of strategic growth, including surpassing $500 million in revenue in 2022 and celebrating its 100th anniversary in 2017.
Technological Platform and Innovation
Proprietary Technologies
Eide Bailly leverages proprietary methodologies in data analytics and cybersecurity to deliver tailored solutions to clients.
Significant Scientific Methods
The firm employs advanced data analytics and machine learning algorithms to provide insights and optimize client performance.
Leadership Team
Key Executives
- Jeremy Hauk, CEO: Oversees the firm's strategic direction and operations.
- Andy Spillum, COO: Manages the firm's operational functions.
- Shilo Gorospe, Board Chair: Leads the firm's board of directors.
Leadership Changes
As of the latest available information, there have been no recent significant changes in the firm's leadership team.
Competitor Profile
Market Insights and Dynamics
The accounting and business advisory industry is highly competitive, with firms continually expanding service offerings and adopting new technologies to meet client demands.
Competitor Analysis
Key competitors include:
- BKD, LLP: Offers similar accounting and advisory services.
- Deloitte: A leading global provider of audit, consulting, tax, and advisory services.
- Ernst & Young LLP (EY): Provides assurance, tax, consulting, and advisory services.
- Plante Moran: Offers audit, tax, consulting, and wealth management services.
- PwC (PricewaterhouseCoopers) LLP: Delivers assurance, tax, and consulting services.
Strategic Collaborations and Partnerships
Eide Bailly Alliance
The firm is the linchpin member of the Eide Bailly Alliance, a network of 24 non-competing independent CPA firms, expanding its national reach and resource base.
HLB International Membership
As a member of HLB International, Eide Bailly accesses a worldwide network of independent accounting and advisory firms, enhancing its global capabilities.
Operational Insights
Strategic Considerations
Eide Bailly's strategic focus on digital transformation, optimization, and future readiness positions it competitively in the market. Its broad service offerings and industry expertise provide distinct advantages over competitors.
Strategic Opportunities and Future Directions
Strategic Roadmap
The firm aims to continue expanding its service offerings, particularly in digital solutions and advisory services, to address emerging client
