Novii CPA Company Profile

Background

Novii CPA is a modern, client-centric accounting firm founded in 2023 and headquartered in Madison, Wisconsin. The firm's mission is to provide exceptional financial services while fostering a culture that prioritizes people. Novii CPA aims to build long-lasting relationships based on trust, collaboration, and genuine care, empowering entrepreneurs by simplifying financial complexities and enabling them to focus on growing their businesses.

Key Strategic Focus

Novii CPA specializes in offering comprehensive financial solutions tailored to the unique needs of startups, small businesses, and established enterprises. The firm's core services include:

Outsourced Accounting: Optimizing accounting processes to allow businesses to concentrate on core operations and growth.

Fractional CFO Services: Providing high-level financial guidance to navigate complex financial landscapes.

Business Tax Planning & Preparation: Ensuring compliance and strategic tax planning to maximize financial efficiency.

By leveraging cutting-edge accounting software and tools, Novii CPA delivers accurate, reliable, and timely financial information, empowering clients to make informed business decisions.

Financials and Funding

Since its inception, Novii CPA has demonstrated significant growth. Within the first ten months, the firm expanded to a team of seven employees, serving approximately three dozen clients, with projected annual revenue between $600,000 and $800,000.

In September 2023, Novii CPA secured $6,500 in funding through the Madworks Accelerator program, an initiative that supports early-stage startups.

Leadership Team

Victoria Thayer, Founder: Victoria brings a decade of experience assisting businesses in biotech, professional services, and manufacturing. She holds degrees in business administration, chemical engineering, and accounting, culminating in her CPA license. Recognized for her achievements, Victoria was named one of the Top 50 Women in Accounting in 2024 and received the 2024 AICPA Outstanding Young Professional Award.

Bailey: With six years in the Madison community, Bailey has been instrumental in helping local entities achieve their financial goals. He graduated from UW-Madison with a Bachelor's in Economics and has a background as a Relationship Banker.

Ramon: A graduate of UW-Whitewater, Ramon has five years of experience in the accounting field, with a focus on CPA firms. He is currently pursuing his CPA certification.

Luis: Raised in South Central Wisconsin, Luis earned his degree in Accounting and Finance from UW-Eau Claire. He has experience working at leading Big 4 CPA firms and is a CPA candidate.

Jonas: Originally from Madison, Jonas began his career in Oslo, Norway, earning a Bachelor’s in Business Administration and Finance. He has experience in business consulting and is pursuing his Master’s in Accountancy and CPA certification.

Carolina: Specializing in computer science and information technology, Carolina excels in social media management and administrative support. She is also passionate about folkloric dance, enhancing her connection to culture and community.

Competitor Profile

Market Insights and Dynamics

The accounting industry is experiencing a shift towards client-centric services and technological integration. Firms that offer personalized solutions and leverage modern technology are gaining a competitive edge. The market is characterized by a growing demand for outsourced accounting and fractional CFO services, particularly among startups and small to medium-sized enterprises seeking strategic financial guidance without the overhead of a full-time CFO.

Competitor Analysis

Exact Accounting & Financial Services: Located in Madison, Wisconsin, this firm offers a range of accounting services, including tax preparation and financial planning. They cater to a diverse clientele, emphasizing personalized service.

Atwood Tax: Also based in Madison, Atwood Tax specializes in tax services for individuals and businesses, focusing on maximizing returns and ensuring compliance.

My Money Tax and Accounting: This firm provides comprehensive tax and accounting services, aiming to simplify financial management for clients through tailored solutions.

Mary Himsel-DeGroot, CPA: Offering personalized accounting services, Mary Himsel-DeGroot focuses on building strong client relationships and delivering customized financial solutions.

Sorge CPA & Business Advisors, SC - Monona: Located in Monona, Wisconsin, this firm provides a broad spectrum of accounting and advisory services, emphasizing strategic planning and business growth.

Strategic Collaborations and Partnerships

Novii CPA's participation in the Madworks Accelerator program in 2023 provided valuable mentorship and resources, contributing to the firm's early growth and development.

Operational Insights

Novii CPA differentiates itself through a subscription-based pricing model, offering clients a predictable monthly fee that covers all accounting needs. This approach fosters transparency and strengthens client relationships. The firm's commitment to understanding clients' specific business goals and challenges allows for the development of customized strategies that drive success.

Strategic Opportunities and Future Directions

Looking ahead, Novii CPA aims to double its staff by the end of the year, enabling the firm to serve approximately 60 clients. The long-term goal is to expand the team to 40-50 members, covering much of the Midwest. Additionally, the firm plans to share ownership with future partners, ensuring the business's sustainability and continued growth.