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Manufacturing and Distribution Group

Manufacturers and distributors work in a complicated and volatile industry. Meeting business and financial goals means overcoming a host of obstacles, from increasing costs and global competition to changing regulatory requirements and tax regulations. In this ever-changing environment, manufacturers and distributors must rely on accounting professionals who are familiar with the nuances of the industry. ORBA’s objective advisors provide proven guidance that industry executives can depend on to anticipate challenges, maximize profits and minimize taxes.

ORBA’s Manufacturing and Distribution Group understands the challenges businesses face in today’s marketplace. Since 1977, ORBA has been helping clients in this sector navigate the market through periods of economic contraction and growth. As one of Chicago’s largest public accounting firms, we serve as accountants and advisors to privately held manufacturers and distributors in diverse industries all over the region. Our clients are engaged in many different industries, including food service, chemicals, consumer products, machinery, electronics, and fabricated metal and plastic products. Clients turn to our accounting and consulting professionals because of our deep resources, our industry knowledge and the personal service we provide.

Our dedicated, attentive team combines in-depth knowledge of the manufacturing industry with accounting expertise to provide innovative, strategic solutions. Our client relationships go beyond providing routine financial statement and income tax compliance. We are involved with owners and management throughout the year. They appreciate our understanding of the complex issues they face and our ability to offer timely counsel as new opportunities and challenges arise. Our philosophy includes a high level of director and manager involvement in every engagement. This means our most experienced and forward-thinking professionals—those who have worked in the industry throughout their careers and have a strong understanding of the issues impacting manufacturers—work closely with clients to best address their needs.

As a member of BKR International, ORBA has ready access to resources around the world. We help companies explore the many opportunities offered in the international marketplace, including expanding, exporting and operating facilities abroad. Our Manufacturing and Distribution Group members are active in several professional organizations including the Illinois Manufacturers’ Association (IMA) and the Tooling & Manufacturing Association (TMA). Using a team approach, clients benefit from seamless access to the services and resources they need to succeed.

We know that building success for manufacturers and distributors goes beyond financial analysis. While we provide traditional tax compliance and assurance services, what sets us apart is the entrepreneurial manner in which they are delivered. From entrepreneurs who need help obtaining start-up financing to long-term owners seeking to sell, we will work closely with you to find solutions tailored to your individual needs. Whether it’s advising on tax credits for employee training and hiring veterans or performing product line profitability analysis, we offer a wide range of strategic solutions to make your company more efficient, competitive and profitable. We take pride not only in the quality of work we perform for our clients, but also in the relationships we build with them. Our clients have a strong sense of security, knowing the financial aspects of their companies are in good hands.

ORBA has helped countless clients realize positive outcomes for common compliance needs as well as unique challenges. Having a partner who is responsive, has deep resources, understands your industry, takes the time to know your specific business and offers proactive solutions while minimizing risks is critical in this business environment. That’s why ORBA is the partner you need.

SERVICES

Assurance Services

At ORBA, we understand that the financial statement assurance process is more than just a compliance requirement. It’s an opportunity for us to add value and recommend improvements through relevant, insightful observation. We tailor our services to meet the unique risks, needs and challenges of your business while continually seeking new ways for you to experience benefits and efficiencies. We empower our client teams to go above and beyond just issuing audit reports – we recognize and recommend ways to add value to your company’s bottom line. You’ll enjoy continuity in staffing that not only helps build solid, long-lasting relationships, but also increases efficiency and builds on our ongoing understanding of your business as various matters arise throughout the year. By leveraging the vast experience and expertise within ORBA’s other industry groups, we help you maximize resources and enhance the value of your business.

ORBA’s consultative approach is designed to provide you with numerous immediate and long-range benefits. In addition to performing an independent examination for you, we work closely with your organization’s upper management to identify opportunities that will allow you to increase your efficiency, strengthen your internal controls and make a positive impact on your bottom line. We plan our engagements with efficiency in mind, focusing fieldwork procedures on areas that may present financial risks for your business while minimizing inconveniences and disruptions to your personnel. By leveraging the vast experience and expertise within ORBA’s other industry groups, we help you leverage your organization’s assets and pursue your strategic objectives with confidence and authority.

We understand that businesses count on a quality financial statement that will be held to the highest standards by lenders, absentee owners and future investors. ORBA is recognized for its integrity and professionalism, and we are deeply committed to staying on the leading edge of best-practice reporting methods. We participate in the AICPA’s peer review program, and our work receives ongoing third-party evaluation to ensure it meets the highest professional standards. Our directors, managers, senior accountants and staff receive significant continuing education to stay abreast of key changes in accounting and audit requirements. 

Representative Assurance Services include:

  • Financial statement audit, review and compilation
  • Financial statement forecasts and projections
  • Employee benefit plan audits in conjunction with ERISA requirements
  • Financial statement due diligence analysis
  • Internal audit procedures
  • Internal control evaluation
  • Agreed upon procedure engagements
  • Regulatory compliance
  • Forensic accounting and fraud audits

Tax Services

In the manufacturing industry, the stress of a large and complex tax burden can often seem overwhelming. ORBA’s Manufacturing and Distribution Group is in your corner to provide innovative and proactive strategies to maximize your tax savings and minimize your risk. Our professionals endeavor to manage all aspects of tax compliance while providing you with guidance and advice throughout the year to avoid surprises and capitalize on opportunities. Taxes are complicated and IRS rules often change, but with ORBA on your side, you can focus your energies on running your business rather than worrying about managing your taxes.

Operational and Consulting Services

Manufacturing is rapidly returning to the U.S. and is again taking center stage as a central driver of our nation’s economy. At ORBA, our Manufacturing and Distribution Group works with manufacturers and distributors to provide the business, financial and operational guidance needed to take advantage of the opportunities signaled by this economic shift.

We know that most manufacturers continually face the challenge of producing and distributing high-quality goods in an efficient, timely manner. We also appreciate the need to identify ways to lower costs in order to maintain a competitive advantage in the global marketplace. At ORBA, we understand these challenges and will work with you to find the best solutions for your company’s unique needs. 

Our team can help you make sense of operational matters, such as constantly changing technology in the marketplace, pricing pressures, increased labor costs and regulatory guidelines. ORBA’s business advisors understand your need to examine and improve processes, manage and understand capacity constraints, and manage your supply chain while maintaining quality and growing your profit margins.

We believe the value in our consulting services lies within the opportunities we uncover. We are experts in identifying ways that will allow you to improve your company’s financial performance. ORBA’s professionals will develop key performance indicators that will provide you and your managers the information required to optimize your business models and improve your day-to-day operations. From supply chain and inventory management to pricing and process flow improvement studies based on industry standards and best practices, we offer proactive advice and information to keep your business running at peak performance levels.

Tax Credits and Incentives

There are several tax credits and incentive savings that offer tax reductions, refunds and other payouts related to various manufacturing business activities. Using our knowledge of the industry and the unique focus of your business, ORBA’s professionals will identify the appropriate savings opportunities for you.

Federal and state governmental entities offer tax credits or incentives to manufacturing businesses to increase growth, generate jobs, stimulate research, save energy or improve the economy. Credits and incentives are offered for a variety of reasons, including those designed to:

  • Stimulate a specific industry sector
  • Encourage capital investments in economically-disadvantaged areas
  • Increase employee skill sets or reward job creation and retention, and
  • Promote a desired activity, such as research and development, green energy and/or domestic production

Credits and incentives also come in numerous forms and include:

  • Refunds and rebates
  • Tax credits or abatements, and
  • Preferential tax treatment, accelerated depreciation, etc.

Additionally, certain business activities can make a company eligible for these credits and incentives. Situations that may qualify a manufacturing and distribution company for tax incentive or credit-related savings include:

  • New construction
  • Remodeling or retrofitting existing facilities
  • Moving
  • Lease renewal or leasehold improvement investments
  • Acquiring a business or undergoing a merger
  • Job creation and/or retention
  • Training needs, including costs and requirements
  • Producing an improved product
  • Produce goods, develop software or construct property in the U.S., regardless of whether they are exported, and/or
  • Certain types of fuel usage in business activities

The above activities are not a complete listing of manufacturing-related business activities that may qualify your company for tax credits and incentives. Taking full advantage of all the available credits and incentives that may be available to your company requires tax planning and an understanding of the required documentation for filing. Your ORBA tax advisor will guide you through this process so that you can benefit from those programs that apply to your situation.

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