Market studies show that small to midsize business leaders are looking for more from their accounting function. They desire data to help support business decisions, growth and strategic planning, rather than historical information. They want real-time access to their numbers and the ability to slice and dice information as needed. Given this, we are seeing more and more companies make the strategic decision to outsource their accounting function to an accountant or accounting firm. Doing this can transform the way you manage financial data by automating standard accounting tasks, providing real-time information on key performance indicators (KPIs), offering targeted insight on specific industry trends and granting access to top-level accounting talent when you need it.  Download our whitepaper to take a deeper dive into the benefits associated with outsourcing the accounting function and how it is allowing leaders to put their focus back on their core business.
For more information on this topic or to learn how Baker Tilly specialists can help, contact our team.

Outsourcing your accounting function can transform the way you manage financial data by automating standard accounting tasks, providing real-time information on KPIs, offering targeted insight on specific industry trends and granting access to top-level accounting talent when you need it.

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Outsourcing your accounting function: Making data-driven decisions while saving time and money

Key performance indicators for grocers Grocers operate in a fast-paced marketplace with ongoing challenges such as rising costs, economic concerns, employee turnover rates and changing consumer habits. As a result, evaluating your store against key industry metrics is vital to staying competitive in the industry.  This report, developed by Baker Tilly’s  grocery specialists, is designed to help grocers identify opportunities  and make informed decisions to improve their store’s performance. The  report outlines key metrics using operational and financial data from  grocers across the United States and features 2021 data and previous  year data to help you compare year-to-year. Specific metrics include: Average transaction price Average weekly volume per store Rent percentage Store labor percentage Inventory turnover Effective interest rate Sales-to-investment ratio And other key areas Not every guideline will relate to every grocery; for help in determining which benchmarks are appropriate for you or to learn how Baker Tilly retail specialists can assist you, please contact our team. Download the report >

Grocery benchmarks report 

video Kirk Stoa, CFO of Festival Foods, describes the benefits he and his organization receive from working with Baker Tilly. Some of the key items he mentions are: Tax credits and incentives expertise Grocery industry specialization Attentive and accessible professionals For more information on this topic, or to learn how Baker Tilly retail specialists can help, contact our team.

Baker Tilly assists Festival Foods with securing New Markets Tax Credits for new stores.

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New Markets Tax Credits

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Festival Foods secures New Markets Tax Credits for new store openings

Changing consumer buying habits, intensifying competition and new technologies are impacting the way grocery and convenience stores operate in today’s market. To combat declining sales and falling margins, you have to navigate these evolving challenges while running your day-to-day operations and keeping customers happy.

As industry specialists, we recognize these disruptions present considerable, yet conquerable, challenges for grocery, convenience store and supermarket owners. Whether you’re a multi-unit franchisee, family-owned business or independent operator, we have the advisory, accounting and tax solutions to help you address these challenges head on. 

Navigate pricing strategies, improve employee retention, open new locations and explore online product sales with our industry specialists by your side.

Retailers can’t stand still. Rely on our retail specialists to help you navigate evolving tax law, digital disruption and the challenges of omnichannel fulfillment.  

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Our food and beverage consultants help clients respond to changing consumer demands, innovation, risks and regulations and industry consolidation.

We help food and beverage companies navigate changing consumer demands, innovation and the global landscape to bring insight and innovation. 

Contributing to clients’ success by accelerating tax deductions, increasing tax credits, reducing cash taxes and mitigating risks

Baker Tilly’s tax team contributes to clients’ success by accelerating tax deductions, increasing tax credits, reducing cash taxes and mitigating risks.

Individuals and companies that build, purchase, remodel or expand any  kind of real estate can benefit financially from using cost segregation.

Baker Tilly’s skilled cost segregation specialists conduct studies to help our clients increase not only the amount they can deduct on state and federal returns, but also their cash flow.

Guiding clients through development projects from conception to completion.

Combat your real estate development challenges with Baker Tilly’s suite of development advisory services and experienced development consultants.

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Client grocery and convenience store locations across the U.S.

Compete and grow amid evolving market trends with our forward-thinking advisory, accounting and tax services.

Compete and grow amid evolving market trends with our forward-thinking advisory, accounting and tax services backed by grocery and convenience store specialization.

Todd Bernhardt, principal and practice leader of Baker Tilly Advantage. Todd leads the firm’s full-service accounting and advisory solution dedicated to small businesses, Baker Tilly Advantage and serves as the firm’s retail growth leader. 

Brian Francese is a principal with Baker Tilly’s New York assurance practice and a leader with the firm’s e-commerce and large retail industry practice.

Baker Tilly’s real estate advisory services are designed to help leaders across various industries and communities with their ever-changing real estate and infrastructure needs.

Grocery & Convenience Stores

Outsourcing your accounting function: Making data-driven decisions while saving time and money

Grocery benchmarks report

Festival Foods secures New Markets Tax Credits for new store openings

Real Estate Advisory Services

Todd C. Bernhardt

Brian P. Francese

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Retail

Food & Beverage

Tax

Cost Segregation

Development Advisory

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1,000+

Client grocery and convenience store locations across the U.S.