Eide Bailly, a Fargo-based accounting and business advisory firm, celebrated 100 years in business in 2017. The century-long journey has been marked by innovation, a necessary component of the firm’s ongoing success. In fact, innovation was just one of the reasons Eide Bailly received the ‘Business of the Year’ award from Fargo-Moorhead West Fargo Chamber of Commerce in 2018. “We’re truly honored to be recognized for our innovative strategies and receive this award. From being thought leaders on tax reform to a top technology consulting practice and developing a suite of services geared towards helping small businesses, our innovative approach has helped us become the Business of the Year,” explained Chad Flanagan, Partner in Charge of Eide Bailly’s Fargo office.
Focus on Small Business
Eide Bailly provides accounting and strategic business advisory services across the United States. “At Eide Bailly, we recognize the importance of each individual customer. As a company that is over 100 years old, we have been through the start-up, the growth times, and the challenges. We continue to position ourselves to be a resource to every client,” said Jenni Huotari, Eide Bailly’s Business Outsourcing and Strategy Director. As the company continues to grow in size and scope, Eide Bailly continues to support large and small businesses with innovative accounting, business strategy, and offerings for start-ups and entrepreneurs through their business outsourcing and strategy services. These services aim to help small businesses in their day-to-day functions by offering payroll, outsourced CFO and bookkeeping services, to name a few.
“Despite growing to become a top 25 CPA firm in the nation, we’ve never lost sight of the importance of our relationship with small to mid-sized businesses – they’re at the heart of what we do. With this growth and national presence, we’re able to offer specialized services to clients of all sizes,” explained Flanagan.
Focus on technology
Looking at today’s rapidly advancing technology landscape, Eide Bailly sought to hire a Chief Innovation Officer to meet the growing demands and ever-increasing impact of technology on businesses. In 2018, Ross Manson accepted the role and is championing the innovative use of technology within the overall business strategy. “The idea of having a culture of innovation is thrown around a lot, but how do we do that? There is a process for being innovative, it doesn’t just happen on its own. I’m working on moving this process along,” said Manson. The Chief Innovation Officer has taken on many innovative projects, including the development of a plan for using artificial intelligence in the accounting world, and how blockchain may impact the firm.
Focus on Internal Innovation
Eide Bailly’s customers are not the only people reaping the benefits from innovation. Recently, Eide Bailly introduced Idea Hub to provide an avenue for innovation within the company and maximize the workplace culture. The Idea Hub was created for employees to share ideas and initiatives for others in the company to vote and add input. Some ideas implemented from Idea Hub include split wastebaskets for recycling, a breast milk shipping service for traveling moms and a floating holiday after the 4th of July.
The future of Eide Bailly will include the multiplication of innovation and excellence that has defined the 100 years of the company’s culture. As a leader in innovation, Eide Bailly is a strong supporter and participant of the entrepreneurial ecosystem in Fargo-Moorhead (including a strategic partnership with Emerging Prairie). “Our future is bright, we will continue down this path of meeting our clients’ needs beginning with traditional accounting and tax solutions and ending at the cutting-edge of innovation and technology,” explained Flanagan.