ITA Spotlight: The NDH Group

With Seth Pomeroy, CPA, MIS

Partner-in-Charge, CFO Outsource and Accounting Technology

Name of your Company:

The NDH Group

What is your company URL?

http://www.ndhcpa.com/

What is your company’s Twitter handle?

@ndhgroup

Who are the founders of your company? What are your company roots?

Wes Naviaux, Jeremy Dubow, and Josh Harris founded NDH after their departure from Deloitte. I joined the firm a year later following my departure from Rome Associates, a Chicago-based CPA/business consulting firm.

Are you a Start-Up or Growth Phase company?

We are a growth company, with steady annual revenue increases in each of our years of operation.

In 25 words or less, what are you all about?

We serve businesses, and their owners, with finance and accounting outsource, accounting technology, and tax services. Our services are primarily administered through cloud-based applications.

What problem do you solve?

We solve three common questions facing every business. First, how do we finance our operations, account for, and report on results? Second, how can we use business systems to increase our efficiency? Third, how do we meet tax compliance and structure our business to minimize taxes?

How did you get started?

Based on our combined experience, we set out to serve fast growth and mid-market companies. My partners had significant experience working with the mid-market in tax matters and consulting, while I ran an outsource and accounting technology practice. There was a common-thread with respect to backgrounds, and the value proposition.

What makes your company special? How is your product differentiated in the eye of the consumer?

From the start, we realized that business owner’s get a lot of value from a single source provider. In contrast, we saw one-off competitors offering services in isolation and unable to solve complex integration, implementation, and reporting/compliance requirements. Finally, our delivery systems are web-based, and, therefore, dynamic, providing real-time analytical results.

How do you make money? Who are your primary customers and why do they choose you?

We earn our fees in three ways. First, by offering companies an alternative to staffing their own accounting, finance, tax roles. Secondly, by licensing accounting and related systems, including Intacct, NetSuite, OpenAir, and BridgeView. Thirdly, by configuring and integrating these systems, commonly referred to as implementation and e-commerce. Some of our clients are “Inc 500” listees, while others have comparable results. We’ve gained their trust by offering a robust back-office solution, that’s made efficient by cloud delivery. Our sweet-spot is technology and technology related companies, but we serve firms in a broad array of business verticals.

Work Hard/Play Hard or The Early Bird Gets The Worm?

Work hard and show results for your customers so they can play hard and get whatever worms they want.

What’s the #1 thing on your To-Do list?

Get the word out. The NDH Group provides a unique service —and service combination— that keeps our clients happy, yet we don’t have enough visibility with a larger prospective market.

What are your dreams for your company?

Most importantly, unparallel service for our customers. Then, based on that reputation, the opportunity to be the go-to for fast growth companies in Chicagoland and nationally.

It’s our kind of town too… but what are the advantages of being a Chicago-based technology company?

Chicago is a unique place for business. It’s probably more diverse economically than any other city in America. With that said, it tends to be a bit of a laggard when it comes to adopting new technology and embracing the concept of outsourcing.

What trends do you see heading into 2011 that are relevant to your industry and your company?

We believe that technology will continue to drive trends in outsourcing and further Drucker’s mantra that, “Companies should have others do what is not their primary task.” Secondly, web-based systems like Intacct and NetSuite will continue to make in-roads into the corporate systems market as the depth of their vertical solutions becomes more robust. Finally, as e-payment/receipt systems eventually congregate around standards many manual accounting functions will become obsolete.

What’s your #1 need going forward… other than funding and customers, anyway?

Hiring and retaining talent. We look for employees with a unique combination of skills, and level of work effort.

What are the biggest challenges you are facing in scaling your business up?

Talent.

This one is all you…. Anything else you want to tell us?

SMB’s face serious challenges today. They need trusted organizations and advisors they can work with. We would like to thank the ITA for playing that role and its efforts to distinguish Chicago as a city for entrepreneurial excellence. It’s a model for us, and our hope is that we can serve our target market as effectively.

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