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Division Professional Division, Zycron February 7, 2020 Project Scenario: The deployment of the ReCollect Solid Waste Management portfolio allows the City of Memphis residential customers to access and search for their solid waste collection days via www.memphistn.gov. Waste Collection Calendar: Recycling – cans, bottles, paper, containers, etc. Yard Waste – shrubbery, leaves, grass, etc. Garbage – bagged, wrapped, trash container Outside the Cart collection – semi-monthly service, tree limbs, furniture, car tires, bikes, etc. Waste Wizard – specific details on products, particles, object specific Waste Sorting Game – Where and how to dispose items Google Play and Apple Developer Programs – for Mobile App Users (Enrollment Required) Benefits: Schedule Specific Customer friendly Calendar allows residents to plan better Knowing When and Where to place What Items Eliminates/cuts down on Trash sitting curbside for longer than necessary Decrease vagrants and animal rummaging through Increased Waste Diversion Stats: 200 tons of diversion recycling post Go-Live (May-June) Improved Education with online monitoring Project Outcomes: Post Launch Statistics (May to mid-June): 2,822 Views 10,113 New Households added 591 Printed Calendars 8,009 First Time Visitors

Division Professional Division, Zycron February 7, 2020 Project Scenario: To replace antiquated and non-working cameras throughout the City of Memphis public facilities to include Community Centers, Senior Centers, Golf Courses, Libraries, Historic Properties, Museums, Nature Centers, Parks, Pools and Public Areas. Project Outcome: Improve City-wide safety 102 city-wide locations will have new cloud-based cameras camera footage will be accessible 24-7 days a week Improve security heighten security with more city-wide visible cameras the cameras are designed with new modern technology Crime prevention intrusion mobile alerts will be sent to designated personnel Memphis Police Department will have access to the cameras

Division Professional Division, Zycron February 7, 2020 Project Scenario: Remove all stand-alone fax machines throughout the City of Memphis Setup end users to receive and send fax documents via electronic email Project Outcome: Reduces Costs No dedicated telephone lines No paper and ink Improves user productivity Send and receive docs – 24 / 7 (with network access) No waiting in line at fax machine Enhanced Security Sensitive documents are not left unattended at fax machine Outlook email is encrypted

Division Professional Division, Zycron February 7, 2020 Client Challenge In the implementation stage of their Workday project, Extrinsic’s client, a Financial Services company in Texas, did not have a resource on their team who could provide configuration support for the Performance Management module, Calibration module and their current compensation structure for global entities or provide best practice guidance. The client came to Extrinsic with an urgent need to help them find this resource, as the Performance Management and Calibration modules were scheduled to launch in just one month with go-live right around the corner. Identified Resource Within just 24 hours, due to their vast network of established Workday resources, Extrinsic identified a specialized consultant with six+ years of proven experience in the Workday ecosystem. During that time, he completed three Global Performance implementations, including one Global Calibration project and multiple Advanced Compensation projects. He was also previously certified in HCM and Financials with additional experience in Reporting. Actions and Solutions Delivered Extrinsic’s consultant was brought on during the implementation stage just prior to go-live and provided a myriad of configuration support in the Performance Management module, Calibration module and the compensation structure for global entities, including support for compensation grades, bonus plans, and compensation plans. He created a working prototype of the Performance environment to review with the team during two weekly meetings. Results Extrinsic was able to fill an immediate gap on their client’s project team. Their resource was able to provide the support the client needed, while effectively streamlining and automating processes based on best practices in Workday Performance and Compensation. The project was finished on time and on budget.

Division Professional Division, Zycron February 7, 2020 Project Scenario: Automate accounting processes used by City of Memphis Accounts Payable Department. Processes include automating invoices and automating check requests. Project Outcome: Reduce costs Elimination of paper processing Increase visibility & Traceability Management dashboard providing KPI’s and metrics Ability to trace an invoice from beginning to end Ability to identify areas of improvement Vendors will have access to see their accounts Save time Improve vendor payment time Eliminate/Reduce manual errors Automate checks Automate invoicing

Division Donovan & Watkins, Professional Division February 3, 2020 Business Scenario: Multi-Currency ERP System Implementation for an International Beverage Company. The Project scope was inter-company reconciliations. Project Scope: Our Senior Accountant was responsible for coordinating with each division accounting departments to understand their current intercompany billings. Phase 1) Our consultant interviewed clients with accounting personnel to determine accounting practices and business processes. They also reviewed existing accounting policies and procedures. Phase 2) Identified disconnects between actual processes and company procedures developing flowcharts to reflect correct method and timelines of intercompany billings. Phase 3) Implemented new intercompany billing methods and procedures. Clients Return on Investment: Month End close was streamlined to full accuracy and shortened the closing process by ten days. Thus saving the company exponentially on employee time and overtime wages.

Division Donovan & Watkins, Professional Division February 3, 2020 Business Scenario: Our client had a troubled implementation of PeopleSoft General Ledger and nVision Reporting four years prior to our involvement. This client was unable to efficiently and timely extract data from the GL to perform financial reporting. Project Scope: Our team of consultants worked directly with the client to develop a timeline for a two-phase solution. Phase 1) Our team of consultants was tasked with streamlining internal controls within the GL module. They built new processes and procedures to ensure compliance with the newly incorporated internal controls during the project and reporting tool. Phase 2) Our team worked with the department managers to document and refine processes and procedures for financial reporting. This resulted in more efficient financial processes that were easy to follow and allow the employees to work with the nVision Reporting Tool. Nearly all the financial reports needed to be redesigned to reflect the new GL structure that was created by the project. Our consultants also trained the client staff in nVision so going forward they would be able to create financial statements. Clients Return on Investment: The project provided our client with a highly functional GL System speeding up the Financial Reporting Process, along with improving the internal controls and enhanced Financial Reporting capabilities. In the end, the client received more precise and timelier month-end Financial Reporting.

Division BGSF, IT, Professional Division, Whitepaper February 3, 2020 Driving business performance in today’s complex and volatile environment presents unique challenges for senior management, in general, and for corporate finance in particular. Because it is a rapidly evolving environment, there’s also increasing demand for finance leaders to lead business strategy in real-time, a shift towards performance insight and the higher value placed on an integrated business planning approach.EPM can be described as the ability of an organization to effectively manage the execution of its business strategy through improved management decision making. It is the integration of various methods that translate your plans into results. In other words, it is execution or the framework for managing your strategy. Since strategy is of paramount importance, it is senior management’s number one responsibility. EPM’s main strength is in achieving success through the adjustment in the execution of business strategies by aiding managers to sense earlier and to respond more quickly to uncertainty. It enables this by pushing accountability for results to the lowest possible organization levels.In a recent survey of over 1500 Accounting & Finance Executives, the following responses were found: Is the annual business planning process critical to your EPM process? YES – 90% / NO – 10% Is your company’s annual target setting process Top-Down or Bottom-Up? Top-Down – 60% / Bottom-Up – 40% Is your company’s Tactical Plan (Short-term ~ 3 to 5-year) managed differently than the Strategic Plan (Long-term ~ 5 to 10-year)? YES – 60% / NO – 40% Risk: Potential for Misalignment between Short- and Long-term strategies, including Key Assumptions and Metrics. The annual short- and long-term business planning processes are important tools in EPM. Characteristics of Top-Down Annual Business Planning Process Centrally developed short- and long-term business plans are issued to the company’s operating and support service organizations Usually involves fewer decision-makers in senior management and the process may require less time and resources to complete Characteristics of a Bottom-Up Annual Business Planning Process Budget planners from each operating and support service organization develop short- and long-term business plans after being provided guidance regarding the key assumptions (E.g. sales forecast, input prices) by company headquarters. Target setting is performed at lower levels of the organization resulting in wider ownership of the plan and greater transparency in the process May require several iterations of the plans to achieve alignment between plan owners and senior management. EPM’s impact on the organization Ultimately, EPM is not just about the numbers, but also about monitoring and managing the impacts of the performance management framework on teams of people throughout the organization who tasked with delivering on its strategies, plans, and objectives.

Division American Partners, Professional Division October 28, 2019 Client Challenge One of the largest privately-held insurance companies in North America found themselves under increasing regulatory pressure as they expanded business lines into several key states previously dominated by their competition. Senior members of the CIS group and Project Management Office identified a core weakness specifically in IT Risk Management and Process and Compliance Management mostly due to the differences in compliance regulations for privately held vs. publicly traded companies. What they lacked was a process improvement manager and an IT Risk and Compliance Manager who had experience in publicly traded regulatory compliance. American Partners was engaged at this point. Alternatives Considered Our client had no plan B. In their mind was no other alternative. The only way to avoid unnecessary audits and market pressure from their publicly traded competition was to hold themselves to the exact same standards. Identified Resource American Partners quickly tapped its vast network of IT Professionals and in a matter of weeks was able to make several introductions to the PMO and CIS executives to further assess the daunting challenge of bringing a privately held insurance company into line with the same IT Risk and Compliance regulations of a publicly-traded company in order to avoid undue audits as market share increased across the country. American Partners provided the expertise of one IT Risk and Compliance Manager and one IT Process Improvement Manager who had both taken 2 of the largest companies in America from privately held to publicly traded and back again, directly addressing the process with “boots on the ground” experience. Consultant Action & Solutions Our consultants were immediately put to work tackling IT Risk and Security initiatives and a Process Improvement overhaul that included the formation of a Vendor Risk team. Our Security consultant increased penetration testing and facilitated internal and third-party attestations, audits, and certification efforts for the IT organization. They also rolled out a corporate-wide IT security training initiative while coordinating audit testing, documentation, self-assessment testing, and remediation activities All of this allowed the client to gain market share at a more rapid pace avoiding costly audits and delays in state licensing.

Division Accounting and Finance, Executive Leadership, Finance & Accounting, Team Building May 24, 2019 At a time when everyone from corporate executives to regulators and investors wants more, and more timely, financial information, many enterprises are realizing that each additional accounting standard – such as U.S. GAAP or IFRS – adds yet another layer of complexity to the reporting process. Using Fiat Chrysler as a case study, Workiva’s Joe Howell and FCA Group’s Ed Young, demonstrate that financial reporting process improvement depends on harnessing three resources: people; processes; and technology. More than 65% of large enterprises have more than five legal entities, according to a recent group study. Depending on your type of business, you might have more than a half-dozen reporting systems. Typically, organizations were required to comply with a number of reporting standards including US GAAP, IFRS, and others. Each additional standard, system, or business adds another layer of reporting complexity. A Fundamental Problem of Financial and Management Reporting A fundamental problem for reporting managers is that the primary, desktop-based tools they use to do their jobs, including email, have not kept pace with business reporting requirements. The truth is that these tools were never designed to handle the complexities of business reporting, to begin with, and instead bring with them their own sets of challenges. Beyond the tools that most teams use, there are process issues that are too often accepted as just a part of doing business. Interrelated reports are frequently treated as ad hoc, which creates unnecessary duplicated efforts. When in fact, reconciliation for one report can often be applied to other reports. And when teams can find time and space to create process improvements, they may not have the time or capability to assess a process holistically. The process improvements become modular, and they become stuck in a loop of improving the process improvements. The amount of non-value-add work created from inefficient tools and processes adds up. According to a recent FP&A Technology Survey conducted for the Association of Financial Professionals, 66% of the financial professionals surveyed said that they spend more than nine hours on non-value added activities, and 27% said they spend 20+ hours a month. There clearly needs to be a change. Changing a process before it is understood could create more problems than solutions. So, start with understanding what you and your team are trying to achieve. What information is needed? What resources are available? Be sure to ask “Why?” at every phase. Understand your reporting process: Begin by mapping each of your major reports from cradle to grave. This doesn’t need professional flowchart software – on a whiteboard or on paper is just fine. Ask why the report is needed, what the inputs are, and what the outputs are. How are the interim steps connected? What are the various destinations for the report? What actions must happen in each one, and what are the things that delay the process from moving from one phase to the next? Common Challenges of Desktop Systems Inconsistencies: Duplicative information may appear differently across tables or charts. Lack of efficiency: Repeated data must be entered individually for each use. Version-control issues: When edits are made, there is no master document for teams to reference. Lack of accountability: Edits to documents are not tracked, leaving issues for audit ability or governance. Accessibility issues: Files are either hidden in personal computers or locked for individual use on servers. Lack of true collaboration: Documents are created and edited in isolation. Security issues: Emailed files and comments are too often sent to the wrong recipient. Begin Improving the Reporting Process The most effective place to start is the process you are personally responsible for: Step 1: Collect and normalize data. Let the data collection process normalize your data for you. Step 2: Organize the information. Organize and control collected information, so reporting teams can easily access and understand the continuously changing information. Step 3: Create a single source of truth. Establish links between source data and all of its destinations. Step 4: Collaborate. Find an environment where users can work in parallel. Step 5: Review, approve and sign off on the same document. Establish a review process where project teams can review contributor feedback in one active document. Step 6: House final reports in one location. Provide an environment where you can leverage your certified and trusted source information. Leverage Technology to Improve Your Reporting Process There are new cloud-based, software as a service (SaaS) business reporting solutions on the market that enable you to take these steps and transform your reporting process. Conclusion If reporting challenges are getting you down, break them down into smaller actionable steps. First, evaluate the challenges in front of you. What challenges are you facing today in your reporting? How many processes are built on antiquated tools which are critical to you? How much time do you and your team spend chasing these non-value added items? Second, assess what you can do differently. Establish one source of truth in your reporting process. Connect constant changes. Connect your teams and your data to truly collaborate. Make sure there are accountability and audit ability. Use technology that is available to your advantage. Finally, stop waiting and take action. You and your team can conquer your reporting challenges.

Division Information Technology, IT, News, Science and Technology, Tomorrow's Talent May 7, 2019 Reliable information has always been vital to decision making, as well as to investor confidence, in the business world. Executives leading these enterprises, as well as their auditors, must be prepared for an environment that is data-rich and technologically enabled. Like so much in today’s business world, this new strand-data and analytics (D&A)-revolves around the indispensable use of technology, but just as important is the ability to connect and effectively use data. D&A enables auditors to harness the power of technology to arrive at greater rigor and precision and thus enhancing audit quality. The increased automation that D&A allows means that data can be processed much more quickly and across whole datasets. A company’s transactions, for example, can be analyzed virtually in their entirety and scrutinized at a more detailed level. How Are Data and Analytics Used in the Audit? Using D&A tools, we can start by analyzing the general ledger, running all the journal entries in the general ledger against accounting and audit rules and principles to assess the extent to which the contents of the ledger are in line with expectations or not. D&A enables an auditor to work at greater levels of detail, which could result in better audit evidence. For example, with a company’s revenue or sales, the auditor can analyze not just the postings in their financial management system, but the underlying documentation itself, such as actual invoices and bank feeds. And rather than just sampling, say, a couple of hundred invoices, literally millions can be analyzed: an analysis of all transactions. Disruptive events have called into question the reliability of assumptions in traditional forecasting and valuation models. Thus, while the examination of historical information is foundational, the ability to identify and assess future trends is becoming increasingly critical. This is important because if a company is overestimating future prospects, it could lead to an impairment or write-down further down the line-something that could hit its share price, cut the value of investors’ holdings and damage market confidence. In the near future, auditors will use leading technology applications to systematically analyze structured and unstructured data using text mining, semantic analysis, and similar techniques. Looking a little further ahead, they are also likely to use ‘cognitive technology’ (or artificial intelligence) to fine-tune assumptions and give a better sense of what the future may bring. The use of cognitive technologies and machine learning, the development of process robotics-all of these are exciting areas that could have far-reaching potential for the audit. The auditing profession must develop and deploy advanced technologies to harness this explosion of data and unleash the insights embedded within it to advance audit quality and provide a deeper understanding of business and financial reporting risks, processes, and controls. A recent Forbes Insights survey found 58 percent of auditors and businesses believe technology will have the single biggest impact on the audit over the next three to five years. And by 2020, smart machines will be a top-five investment priority for more than 30 percent of chief information officers. As businesses transform their operations to become more digital, and perhaps more global, many will be overhauling their IT systems with more sophisticated technologies. As a result, audit professionals must embrace the use of advanced tools such as data and analytics (D&A), RPA, automation, and cognitive intelligence to manage processes, support planning and inform their decision-making. Auditors will need to continue to develop innovative capabilities and technologies to maintain audit quality and strengthen the relevance of their audits into the future. Cognitive technology allows auditors to obtain and analyze information from non­traditional sources, including social media sites, TV, radio and the Internet, and determine if any of this external information may impact an audit either directly or indirectly. In combination with visualization tools, cognitive technology can bring audit information to life through automated charting and graphics that allow for a greater understanding of what’s been discovered and promote timely and calibrated responses. For instance, these tools can provide clear illustrations of account relationships and transaction flows as well as anomalies in the data, both of which can offer a wealth of insights about a company’s controls, processes, and performance. Cognitive technology will enhance the ability of auditors to: Cognitive technology (also frequently referred to as cognitive automation or artificial intelligence) essentially is an algorithm or chain of algorithms that enable the software to absorb information, reason and think in ways similar to human beings. When combined with advances in digital and process automation, and data and analytics, cognitive technology can have a profound impact across a broad spectrum of working environments and occupations. While cognitive and data and analytics are different, they work together to generate greater analytic depth, broader perspectives, and more effective decision-making. This combination of capabilities is essentially a force multiplier that can increase the level of detail and accuracy of audit processes, which in turn, enables auditors to sharpen their focus on higher-value audit activities and helps them deliver more insightful and effective audits. In this environment, teams of professionals must possess more than just an understanding of accounting and auditing-they need stronger critical thinking, analytical, data science, and IT skills to complement their financial and business acumen. The profession will need to continue to work with universities, regulators and leading technology companies to enhance the skill sets of its people and develop new capabilities to advance audit quality.

Division Accounting and Finance, BG Creative, Company Culture, Executive Leadership, Light Industrial Division, Professional Division, Real Estate Division, Team Building February 6, 2019 In January 2018, the new revenue recognition standard (Update No. 2014-09; ASC 606) takes effect. The standard has broad implications and may affect many parts of your organization: financial statements, business processes, taxes, and internal controls over financial reporting. It requires the collaborative efforts of multiple departments within the company, including financial reporting, IT, sales, tax, investor relations, human resources, and others. Jointly issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (ISB, the revenue recognition standard will supersede virtually all existing revenue recognition guidance in Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS). The intent of the new standard is to replace the existing guidance with a single industry-neutral revenue recognition model that will reduce complexity and increase financial statement comparability across companies and industries. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. One of the best practices being adopted early on is to avoid the “Slippery Slope” of feeling pressure due to lack of sales and going beyond what is acceptable accounting standards when recognizing revenue. Review revenue from contracts with existing customers excludes other income and transaction-specific advice. There are significant disclosures related to the timing of revenue, level of granularity on significant customer contracts, obligations to refunds/returns/defects and why you aren’t recognizing the “downside” upfront. Below are 9 steps to get you on track to compliance: Build an internal team. This team will perform an initial assessment of the impact of the new guidance, communicate the impact and outline the strategy. A properly staffed team should include players from revenue management, IT and each department involved in the quote-to-cash process. If you don’t have in-house revenue management expertise, include your audit firm. The team needs to understand the impact of the new guidance and whether it means you have to change the way you book or sell in order to create better processes from a revenue recognition standpoint. Evaluate significant revenue streams. Don’t limit yourself to lines of business or “products and services”. Identify, evaluate and summarize contract types. This includes the identification of performance obligations and variable transaction price considerations. Sufficient time should be allowed to identify and analyze contracts to enable efficiency, consistency, and quality across the organization. Templates for gap analysis and contract reviews should capture information for future phases of the transition effort. Establish new policy requirements, where appropriate. Analyze and determine additional disclosure requirements. Identify how information to support disclosures will be provided. Evaluate the impact on periodic financial processes. Identify data gaps and process requirements. Design system changes, where needed Manage expectations around business planning and analytic reporting. Management and investors should be educated as to the expected impact of the new standard. Develop a project plan and roadmap. This should include key activities and milestones, training requirements and a detailed work-plan. Other key factors to understanding the change: Principle-Based vs. Rule-Based Requires more judgment when allocating transaction price and determining satisfaction of the performance obligation. Document reasoning for judgment exercised in recognizing revenue Restatement Options Full retrospective – restatement of all periods presented Modified approach – opening balance sheet adjustment in the year of adoption Impact on Taxes: Need to involve tax department Impact on deferred taxes Impact on revenue reporting for tax purposes Consider the need to file IRS form 3115