Schellman & Company, LLC is a leading provider of attestation and compliance services, specializing in security and privacy audits, assessments, and certifications. Founded in 2002 and headquartered in Tampa, Florida, Schellman has established itself as a significant player in the professional services industry.
Background
Schellman's mission is to assist clients in navigating complex compliance objectives, aiming to be the world's preeminent provider of compliance services. The firm's core values emphasize quality, innovation, and a culture of inclusion and social impact. Unlike traditional CPA firms, Schellman focuses exclusively on attestation and compliance services without offering financial statement audits or tax preparation. This specialization has enabled the firm to build long-term relationships with over 900 clients, including numerous publicly traded and Fortune 500 companies.
Key Strategic Focus
Schellman concentrates on delivering comprehensive attestation and compliance services. The firm's professional services encompass:
- Security and privacy audits
- Assessments
- Certifications
Schellman is globally licensed as a PCI Qualified Security Assessor, an ISO Certification Body, an APEC Accountability Agent, and a FedRAMP 3PAO. This diverse range of accreditations allows the firm to address multiple compliance objectives through a single project team, providing clients with streamlined and efficient services.
Financials and Funding
As of the latest fiscal year, Schellman reported revenues of $171.5 million, positioning it as the 45th-largest CPA firm in the United States. The firm employs approximately 572 professionals, reflecting a 12% growth in employee count over the past year. Schellman has not publicly disclosed specific funding details or valuation figures.
Pipeline Development
Schellman's service offerings are continually evolving to meet the dynamic needs of the compliance landscape. The firm has expanded its portfolio to include:
- HITRUST assessments
- Cloud security assessments
- Penetration testing
These additions demonstrate Schellman's commitment to staying at the forefront of compliance services and addressing emerging client requirements.
Technological Platform and Innovation
Schellman differentiates itself through its proprietary methodologies and innovative approaches to compliance services. The firm's professionals leverage extensive experience and expertise to provide superior client service while maintaining steadfast independence. Schellman's approach emphasizes:
- Quality
- Innovation
- A culture of inclusion
- Social impact
This commitment to excellence and innovation has solidified Schellman's reputation in the industry.
Leadership Team
Schellman's leadership team is composed of experienced professionals dedicated to the firm's mission and values. Key executives include:
- Avani Desai, Chief Executive Officer
- Ben Allen, General Counsel
- Jacob Ansari, Security Advocate
Under their guidance, Schellman has achieved significant growth and recognition in the compliance services sector.
Leadership Changes
In 2012, Avani Desai assumed the role of CEO, bringing a wealth of experience and a vision for the firm's future. Since her appointment, Schellman has experienced substantial growth and has been recognized for its commitment to quality and innovation.
Competitor Profile
Market Insights and Dynamics
The attestation and compliance services market is characterized by increasing demand for security and privacy audits, driven by evolving regulatory requirements and heightened awareness of cybersecurity risks. Firms specializing in these services are experiencing growth as organizations seek to ensure compliance and protect sensitive information.
Competitor Analysis
Schellman's primary competitors include:
- Coalfire: Specializes in cybersecurity advisory services, including compliance assessments and risk management.
- ControlCase: Focuses on IT security certifications and compliance solutions.
- CyberGuard Advantage: Provides cybersecurity services with an emphasis on risk management and compliance.
- Bonadio: Offers a range of accounting and consulting services, including compliance and risk management.
Schellman distinguishes itself through its exclusive focus on attestation and compliance services, avoiding traditional accounting functions, which allows for a more specialized and in-depth approach.
Strategic Collaborations and Partnerships
Schellman has engaged in strategic acquisitions to enhance its service offerings and expand its market presence. Notable acquisitions include:
- Insyte CPAs LLC: Acquired in August 2024, based in Birmingham, Alabama.
- Scott S. Perry CPA PLLC: Acquired in January 2022, based in Bellevue, Washington.
These acquisitions have bolstered Schellman's capabilities and geographic reach, enabling the firm to better serve a diverse client base.
Operational Insights
Schellman's strategic focus on attestation and compliance services, combined with its commitment to quality and innovation, provides a distinct competitive advantage. The firm's ability to offer multiple compliance solutions through a single project team enhances efficiency and client satisfaction.
Strategic Opportunities and Future Directions
Looking ahead, Schellman is poised to capitalize on the growing demand for compliance services. The firm's dedication to innovation and quality positions it well to expand its service offerings and client base. Potential future directions include:
- Developing new compliance assessment services
- Expanding into emerging markets
- Leveraging technological advancements to enhance service delivery
By building on its current strengths, Schellman aims to achieve its vision of becoming the world's preeminent provider of compliance services.
Contact Information
- Website: www.schellman.com
- Social Media:
Schellman's commitment to quality, innovation, and client service continues to drive its success in the attestation and compliance services industry.
