Ann C. Bennett, CPA

B2B CFO® | STRATEGIC GROWTH | SUSTANABLE VALUE | TRANSITION POSITIONING

Location
Greater Denver Area
Industry
Executive Office

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Ann C. Bennett, CPA's Overview

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Ann C. Bennett, CPA's Projects

  • Augmenting Team Knowledge Opens Multimillion-Dollar Market

    • 1985 to 2011
    Team Members: Ann C. Bennett, CPA

    Company had recruited nine developers from India, and they lacked knowledge about partnerships, tax code or Wall Street/broker transactions. Not wanting to invest time and money to provide the learning environment necessary for these developers, the company endured many false starts.

    Cultivated an educational strategy for the team and ensured training delivery. Utilized SCRUM methodology, and developed a software system.

    These actions positioned the company to compete in a $37,000,000 plus market, sparking multimillion-dollar earning potential.

  • Flexible Product Development Meets Fluctuating Client Needs

    • 1985 to 2011
    Team Members: Ann C. Bennett, CPA

    Wall Street, business, Congress and IRS were continually changing tax regulations, codes and rulings, causing very costly and time consuming changes to financial/tax software coding. Processing prior year corrections required utilizing the IRS code for that year and different reporting entities have different tax attributes.

    Defined a software development structure that would allow two things: user defined parameters and sub- assemblies in the code structure that could be turned off or on depending on tax code for that year.

    The result was a flexible software system for the market that was responsive to clients and provided sales with a responsive product.

  • Client & Employee Focus Smooths Acquisition Integration

    • 1999 to Present
    Team Members: Ann C. Bennett, CPA

    Company had purchased assets of AIS and hired all 30 AIS employees. AIS had already started cleansing data coming in from brokers, which was disruptive for both employees and clients.

    Reviewed status of client processing and added extra procedures to provide outstanding service to AIS clients. Monitored employee attitude and performance to quickly resolve any misunderstandings or problems.

    As a result of these actions, both employees and clients were happy and enthusiastic about the acquisition.

  • Client & Employee Focus Smooths Acquisition Integration

    • 2011 to Present
    Team Members: Ann C. Bennett, CPA

    Company had purchased assets of AIS and hired all 30 AIS employees. AIS had already started cleansing data coming in from brokers, which was disruptive for both employees and clients.

    Reviewed status of client processing and added extra procedures to provide outstanding service to AIS clients. Catalyst for high - performing employee attitude and performance quickly resolving any misunderstandings or problems.

    As a result of these actions, both employees and clients were happy and enthusiastic about the acquisition.

  • Executive Decision Making Delivers 1,000% ROI

    • 1999 to Present
    Team Members: Ann C. Bennett, CPA

    Price Waterhouse and Coopers & Lybrand had merged, creating PricewaterhouseCoopers (PWC). The resulting two companies that could effectively process PTPs and ETFs were, PWC and AIS. PWC was aggressively pricing their other professional services to win the very lucrative PTP tax processing. .

    Contacted by PWC to discuss an acquisition of AIS, which would be negatively received by AIS employees and clients, especially since several AIS clients had previously been Price Waterhouse clients. Agreed to meet with PWC to discuss acquisition, negotiated sale within 30 days and ensured smooth transition.

    Acquisition deal returned 1,000% to AIS investors, and judicious negotiation ensured that 100% of AIS employees were hired, given a comparable salary to PWC employees, a signing bonus, and immediate vesting in 401K.

  • Exhaustive Analysis Swiftly Resolves Lawsuit

    • 2011 to Present
    Team Members: Ann C. Bennett, CPA

    Architect was suing sole partner in several residential construction LLCs, claiming to be a partner and due partnership interest. Only selected records were provided: tax returns for LLCs of five entities and both individuals along with detailed general ledger of residential builder LLC.

    Reviewed the tax returns and backed into the detail of the general ledgers. Used tax code knowledge for characterization of income and 1031 tax-free exchanges to discover a tax avoidance scheme, amounting to roughly $1,000,000 spanning several years. Testified in mediation as expert.

    Diligent analysis resulted in quick mediation settlement; IRS was notified and finder’s fee on collected funds was paid to the employee who was ruled not a partner.

  • Product Innovation Amplifies Revenue Potential

    • 1999 to 2003
    Team Members: Ann C. Bennett, CPA

    Sole source processing held by PricewaterhouseCoopers put KPMG at a competitive disadvantage. Deloitte was developing a system that would increase that disadvantage. KPMG needed a new system to compete, but professional tax and development staff lack knowledge of partnerships and Wall Street trading.

    Leveraged 15 years of experience in the industry to support KPMG through development process, which resulted in a state-of-the-art publicly trading partner system.

    This innovation enabled KPMG to be competitive in the $37,000,000 plus PTP industry for just compliance tax processing. Additional audit and consulting fees would at least double that.

  • Product Innovation Amplifies Revenue Potential

    • 2011 to Present
    Team Members: Ann C. Bennett, CPA

    Process monopoly held by PricewaterhouseCoopers put KPMG at a competitive disadvantage. Deloitte was developing a system that would increase that disadvantage. KPMG needed a new system to compete, but program development staff lack knowledge of partnerships and Wall Street trading.

    Leveraged 15 years of experience in the industry to support KPMG through development process, which resulted in a state-of-the-art publicly trading partner system.

    This innovation enabled KPMG to be competitive in the $37,000,000 plus PTP industry for just compliance tax processing. Additional audit and consulting fees would at least double that.

  • Interdisciplinary Team Development Reaps Successful Market Expansion

    • 1999 to Present
    Team Members: Ann C. Bennett, CPA

    New software package in development need to combine knowledge of tax expertise, developers, network specialists, database specialists, and IT capacity management. The disparate disciplines often have a difficult time communicating, in part because of special language and acronyms used in each profession.

    Established a respectful learning environment. Taught business, tax and accounting classes during working lunches. Developed documentation and detail specifications for guidance.

    A resounding success, this process delivered a niche software system for the industry, engaged employees and a profitable company.

  • Interdisciplinary Team Development Reaps Successful Market Expansion

    • 2011 to Present
    Team Members: Ann C. Bennett, CPA

    New software package in development need to combine knowledge of tax expertise, developers, network specialists, database specialists, and IT capacity management. The disparate disciplines often have a difficult time communicating, in part because of special language and acronyms used in each profession.

    Established a respectful learning environment. Taught business, tax and accounting classes during working lunches. Developed documentation and detail specifications for guidance.

    A resounding success, this process delivered a niche software system for the industry, engaged employees and a profitable company.

  • Recalibrating Systems & Planning Primes Company for Growth

    • 1999 to Present
    Team Members: Ann C. Bennett, CPA

    Early stage healthcare software company needed cash for marketing, sales and product development. Owners’ initial financing had been hampered by poor accounting system, rudimentary financial statements and business plan.

    Established accounting system with clear procedures, cleaned up transactions and presented financials according to GAAP. Developed a realistic business plan to support further growth.

    Obtained $200,000 line of credit to be used for marketing, sales and product enhancement.

  • Recalibrating Systems & Planning Primes Company for Growth

    • 2011 to Present
    Team Members: Ann C. Bennett, CPA

    Early stage healthcare software company needed cash for marketing, sales and product development. Owners’ initial financing had been hampered by poor accounting system, rudimentary financial statements and business plan.

    Established accounting system with clear procedures, cleaned up transactions and presented financials according to GAAP. Developed a realistic business plan to support further growth.

    Obtained $200,000 line of credit to be used for marketing, sales and product enhancement.

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