Company Overview
Lott, Vernon & Company, P.C., CPA's is a well-respected full-service accounting firm operating in Texas, offering a wide range of professional services tailored to meet the needs of business owners, executives, and independent professionals. The firm is headquartered in Texas with three office locations: Temple at 20 South 4th Street, Killeen at 109 East Ave B, and Copperas Cove at 911 South Main. For client inquiries, the contact numbers are (254) 778-4783 for Temple, (254) 526-0571 for Killeen, and (254) 547-2171 for Copperas Cove, with email established as info@lott-vernon.com.
Service Offerings
The firm provides a comprehensive suite of services including audit, tax, financial statement preparation, management advisory services, and specialized computer services. Lott, Vernon & Company, P.C. prides itself on the specialization of its team members, ensuring high-quality service delivery. As a member of the Southwest Practice Management Group, the firm leverages shared expertise to enhance both professional excellence and client service.
Leadership and Key Personnel
The leadership team is spearheaded by Ronald E. Stepp, CPA, who serves as the President and has been with the firm since August 1979 after completing his education at Texas A&M University. Janet (Penny) Stephenson, CPA, CFE, FCPA, a Manager at the firm, brings expertise in forensic accounting at the Killeen office. Debbie Hershberger, CPA is a noted principal providing leadership in Killeen, while Dane Legg serves as a Partner, contributing significant expertise from Texas A&M University.
Strategic Philosophy
Lott, Vernon & Company, P.C. is dedicated to providing complete service characterized by thoroughness, quality, and timeliness, aligning with client perspectives. The firm prioritizes professional development through external courses, in-house training, and personal study. Moreover, the firm encourages community service and active participation in professional organizations, reflecting its commitment to leveraging accounting expertise for community benefit.
Community Involvement and Professional Development
The firm promotes active professional and civic engagement among its employees to support regional community development. This approach ensures the staff is equipped with leadership skills beneficial in both professional and community settings. Lott, Vernon & Company, P.C. has established itself as an industry leader in Texas, committed to delivering premium accounting services while fostering a cooperative and growth-focused environment for its team and community.
Competitor Profiling for Lott, Vernon & Company, P.C., CPA's
Overview
Lott, Vernon & Company, P.C. distinguishes itself with a comprehensive array of services to businesses, individual clients, and independent professionals, including tax preparation, audits, bookkeeping, payroll solutions, and estate planning. The firm highlights affordability, experience, and client-centric service delivery.
Company Performance
The firm records an estimated annual revenue of $4.4 million, with an average revenue per employee of $130,400. Presently, the company employs around 34 professionals and has observed a 6% growth in its workforce over the past year, indicating a phase of expansion or increased market demand.
Competitive Landscape
Lott, Vernon & Company, P.C., CPA’s operate in a competitive landscape with firms of varying sizes and specializations. Key competitors include:
- Baker Tilly US: Known for its extensive market presence with a service portfolio akin to Lott Vernon.
- CLA (CliftonLarsonAllen): Offers broad-based financial services and tends to target a similar clientele.
- Davisco Inc.: While niche-oriented, it is noted for its varying competition scope.
Additional competitors in pertinent market segments include:
- Municipal Accounts and Consulting, L.P.: Experts in governmental sector bookkeeping.
- Emerge: Technology-driven, focusing on logistics and freight procurement solutions.
- Swanson Reed: Specializes in R&D tax credit advisory services.
- Bland Garvey PC: Provides extensive tax and accounting services, mainly for mid-sized businesses in North Texas.
Lott Vernon operates in a diverse landscape, varying in service offerings, engagement strategies, and geographical focus.
Clientele and Market Position
Primarily serving regional clients, Lott Vernon has a focus on small to medium enterprises and individual clientele seeking localized accounting solutions. The firm's recent growth in employee size suggests a strategic response to increased service demand or product diversification goals to capture broader market segments.
Lott, Vernon & Company's distinctive approach emphasizes affordability and personalized client care, building strong client loyalty and fostering repeat business, essential for sustaining growth in a competitive environment.
