Running a winery means juggling countless moving parts. You’re managing grape purchases, tracking inventory through fermentation and aging, fulfilling wine club allocations, shipping orders across state lines, and staying compliant with Alcohol and Tobacco Tax and Trade Bureau (TTB) reporting requirements. Your accounting software should simplify these complexities, not add to them. 

The right system can transform how you manage your business. The wrong one will leave you spending more time fighting your software than making great wine. This article will walk you through the key features to look for, the questions you need to ask, and how to match software capabilities to your winery’s specific needs. 

Start by Understanding Your Winery’s Specific Needs 

Before you evaluate any software, take stock of your current operation. Are you selling primarily through a tasting room, or do you also manage wholesale distribution? Do you run a wine club? How many different sales channels are you managing?  

Your complexity matters as much as your size. A small winery with direct-to-consumer sales, a wine club, and out-of-state shipping faces different challenges than a larger operation selling exclusively through distributors. Write down your pain points. Where are you spending the most time on manual processes? Where do errors creep into your records? 

Look for Wine Industry-Specific Features 

Generic accounting software wasn’t built with wineries in mind. You need a system that understands how wine businesses actually operate. 

Your software should track wine lots from harvest through final sale. This capability gives you accurate cost of goods sold figures, which are essential for pricing decisions and profitability analysis. Systems that only track inventory by type rather than by specific lot will leave you guessing about your true costs. 

TTB compliance reporting should be straightforward, not a monthly headache. Your software should generate the reports you need without requiring manual data entry or complex workarounds. For newer winemakers, automated compliance features can save hours of frustration and help you avoid costly mistakes. 

Inventory management needs to work for your reality. Can the system track bulk wine separately from bottled goods? Does it handle different package sizes? Will it alert you when supplies are running low? Your software should deplete inventory automatically as you use it and give you real-time visibility into what you have on hand. 

Learn more about our NetSuite for Wineries

Evaluate Integration Capabilities 

Your accounting software doesn’t exist in isolation. It needs to work seamlessly with your other systems. 
 
If you use point-of-sale software in your tasting room, e-commerce platforms for online sales, or wine club management software, your accounting system should integrate with these tools. Manual data entry between systems wastes time and introduces errors. Look for software that can automatically sync transactions from your sales channels. 

NetSuite stands out in this area. It offers robust integrations with specialized winery software and can handle multiple sales channels within a single platform. This unified approach eliminates the blind spots that come from disconnected systems. 

Consider Scalability and Access 

Your winery won’t stay the same size forever. Choose software that can grow with you. 

Cloud-based systems offer flexibility that on-premises solutions can’t match. Your team can access data from the vineyard, the production facility, or home. You can check inventory levels, review reports, or approve transactions from anywhere. 

Pay attention to user licensing. Some providers charge per user, which can become expensive as your team grows. Look for solutions that include unlimited users in their pricing structure. 

Don’t Overlook Support and Training 

The best software in the world won’t help you if you can’t figure out how to use it effectively. Ask about training resources and consider the following: 

• Does the vendor offer onboarding support?  
• Are there tutorials and documentation?  
• Can you reach customer support easily when problems arise? 

Implementation matters too. Moving to new accounting software is a significant undertaking. You need a partner who understands both the technical requirements and the wine industry’s unique needs. 

Match Software to Your Operation’s Complexity 

Small wineries with straightforward operations might do well with basic accounting software paired with specialized wine club or direct-to-consumer (DTC) tools. This approach can be cost-effective and easier to learn. 

However, if you’re managing multiple distribution channels, tracking complex allocations, or operating in multiple states, you need more robust capabilities. An all-inclusive, industry-specific platform like NetSuite can actually simplify your operations by bringing everything under one roof. 

The Right Partner Makes All the Difference 

Choosing accounting software is just the beginning. You need a partner who understands both the technology and your business. 

BPM brings specialized knowledge in both NetSuite implementation and the wine industry. We don’t just set up software—we redesign your processes to eliminate inefficiencies and position your winery for growth. Our team helps you optimize your financial structure, build strong controls, and ensure your system delivers real value from day one. 

Whether you’re making your first vintage or managing a heritage brand, we provide ongoing support to ensure your accounting software evolves with your business. To discuss how NetSuite can streamline your vineyard-to-bottle operations, contact us.   

As a CFO, you didn’t pursue a career in finance to become a spreadsheet manager. Yet your financial analysts are copying data between systems; your controllers are reconciling discrepancies in Excel, and you’re waiting days for reports that should be available instantly. 

The question is whether NetSuite is the answer, and what it really means to make the leap from spreadsheet-dependent operations to a unified cloud ERP platform. 

The Spreadsheet Trap Every CFO Recognizes 

Spreadsheets became ubiquitous in finance for good reason: they’re flexible, familiar, and seemingly free. But that flexibility has become a liability. Your organization now has dozens (or hundreds) of interconnected spreadsheets maintained by different people, each with its own version of the truth. The real cost is more than the hours your team spends managing these spreadsheets. You’re also missing strategic opportunities because your team is occupied by data wrangling instead of financial analysis. 

What NetSuite Changes for the Finance Function 

NetSuite ERP transforms your finance organization from data managers into strategic advisors. Instead of disconnected systems and spreadsheets, you get a unified cloud platform that integrates financial management, inventory control, order management, and business intelligence into a single source of truth. And there are major benefits to having such an integrated system at your fingertips. 

Real-time Financial Visibility 

Your team accesses current financial data through customizable dashboards rather than waiting for monthly reports. You spot trends and anomalies as they develop, not weeks later when the monthly close finally completes. 

Automated Financial Processes 

Revenue recognition that complies with ASC 606 and IFRS 15 happens automatically. Month-end close cycles that once took two weeks shrink to mere days. Your team stops manually entering data and starts focusing on strategic analysis. 

Multi-dimensional Reporting 

You finally get the financial insights you’ve been piecing together manually, including profitability by customer segment, product line, geography, or any dimension relevant to your business model. These reports update in real-time as transactions flow through the system. 

The Strategic Shift from Backward-Looking to Forward-Thinking 

Here’s what changes once your finance function isn’t consumed by data management: you become a strategic partner to the CEO and board rather than the person who explains what happened last quarter. 

NetSuite’s financial planning and forecasting capabilities let you model different growth scenarios and immediately see the implications for cash flow, working capital, and profitability. When your sales team proposes expanding into a new market, you can quickly assess the financial viability instead of spending a week building a spreadsheet model. 

The platform’s comprehensive audit trail and role-based access controls also address the internal control weaknesses that keep you up at night. Every transaction is documented, every change is tracked, and you can demonstrate segregation of duties to satisfy even the most skeptical auditor. 

Compliance and Tax Management That Scales 

As your organization grows, regulatory complexity grows with it. Multi-state tax obligations, industry-specific compliance requirements, and evolving accounting standards create a compliance burden that spreadsheet-based systems can’t handle reliably. 

NetSuite’s automated tax calculations adapt to the latest regulations across multiple jurisdictions. Whether you’re dealing with sales tax, VAT, or international tax obligations, the system calculates accurately and generates the detailed reports you need for filing. This automation reduces compliance risk while freeing your team from the manual calculations that inevitably introduce errors. 

Breaking Down Silos Between Finance and Operations 

One of the most transformative aspects of NetSuite is how it connects your finance function with the rest of the business. When financial management is integrated with inventory control, order management, and CRM in a unified platform, everyone works from the same data.  

• Your sales team can generate quotes with current pricing and accurate margins 
• Operations can track inventory and costs in real-time 
• Customer service can see payment status without calling accounting.  

For you as CFO, this means your financial forecasts incorporate actual operational data rather than estimates and assumptions. This integration eliminates the friction that slows down your organization. Learn more about why companies choose NetSuite for unified business management. 

The Data Foundation for Better Decisions 

Strategic decision-making requires reliable data, and reliable data requires a system designed to maintain data integrity from the start. NetSuite’s architecture replaces the fragmented data landscape of multiple systems and spreadsheets with a centralized database.  

This data foundation enables you to answer critical strategic questions about customer profitability, growth investment allocation, pricing strategies, and working capital requirements. You can’t answer questions like these reliably when your data lives in spreadsheets maintained by different people with different assumptions. 

Learn more about our NetSuite Services

Your Path Forward 

The transition from spreadsheets to strategic insights can be complex because it fundamentally changes how your finance organization operates and contributes to your company’s strategic direction. NetSuite provides the technology foundation, but the vision comes from you. 

Transform Your Financial Operations with BPM 

At BPM, we’ve helped CFOs move beyond spreadsheet-dependent operations to strategic financial management powered by NetSuite. Our NetSuite Accelerator Program provides a structured, phased approach that gets you to value quickly while minimizing risk. 

Contact BPM today to discuss how NetSuite can transform your finance function from a backward-looking reporting group into a forward-thinking strategic partner. 

You’re managing a 50-person IT department, cybersecurity threats are intensifying, and your executive team keeps asking why you need more headcount. Sound familiar?  

The pressure to do more with less has made managed security solutions essential for medium-sized enterprises. But the alphabet soup of acronyms—MDR, MSSP, SOC, EDR—makes it hard to know which service actually solves your staffing problem without draining your budget. 

Today, we’ll look at two of the most popular: MDR vs MSSP.  

MSSP vs MDR: What You’re Actually Choosing Between 

Let’s cut through the confusion. When comparing MDR vs MSSP, you’re looking at two fundamentally different approaches to protecting your organization. 

What MSSP Does for Your Business 

A managed security service provider (MSSP) operates your security infrastructure. They manage firewalls, monitor your network for suspicious activity, handle vulnerability scanning, and keep your security tools updated and configured properly. Think of an MSSP as the team running your security operations—maintaining systems, watching for anomalies, and alerting you when something looks wrong. 

What MDR Does for Your Business 

Managed detection and response (MDR) services focus specifically on threat detection and incident response. MDR providers actively hunt for threats hiding in your environment, investigate security alerts to separate real incidents from false positives, and take direct action to contain and remediate active threats.  

Here’s the distinction that matters most:  

• MSSPs manage your security devices and systems.  
• MDR services hunt down threats and stop them. 

Both are managed security services providers in the broadest sense. But their scope, methodology, and what they require from your internal team differ significantly. 

Learn more about our Managed IT Services

Five Questions that Determine Which Service Fits Your Team 

Before evaluating vendors or comparing pricing models, you need to understand what your organization actually needs. These five questions will clarify whether MDR, MSSP, or a combination makes sense for your security posture. 

1. What’s the current state of your security infrastructure?  

If you’re still building out foundational security controls—configuring firewalls properly, establishing vulnerability management processes, implementing endpoint protection—you need comprehensive infrastructure management.  

Managed security services provide the skills to deploy, configure, and maintain security technologies correctly. Organizations with mature security infrastructure in place but lacking deep investigative capabilities benefit more from MDR’s specialized threat detection focus. 

2. Where does your team spend most of their security time?  

Some IT teams excel at security architecture and tool management but lack bandwidth for deep threat analysis. Others have strong analytical skills but struggle with the operational burden of maintaining security systems around the clock.  

• MSSPs handle ongoing security operations—firewall management, patch deployment, vulnerability scanning, continuous monitoring—freeing your team for strategic work. 
• MDR providers focus specifically on threat hunting, alert investigation, and incident response, which requires different skill sets entirely. 

3. What level of tactical response do you need when threats are detected?  

Both services provide continuous monitoring, but the response model differs significantly.  

• MSSPs identify security events, validate alerts, and coordinate with your team on remediation steps while managing the underlying security infrastructure.  
• MDR services emphasize rapid threat containment and guided remediation for active security incidents.  

The distinction isn’t about one being more comprehensive—it’s about whether you need operational security management or specialized threat response capabilities. 

4. How complex is your compliance and regulatory environment?  

Organizations in highly regulated industries need detailed documentation, regular vulnerability assessments, security control implementation, and audit support.  

• MSSPs typically integrate these compliance capabilities directly into their service model, providing the reporting and controls management that auditors require.  
• MDR providers offer compliance support, too, but their primary focus remains on threat detection and response rather than comprehensive security program management. 

5. What security skills are missing from your internal team?  

Be specific here.  

• Do you lack specialists who can properly configure next-generation firewalls and manage security tool integrations? An MSSP fills that operations and engineering gap.  
• Missing threat hunters and incident responders who can investigate sophisticated attack patterns and perform forensic analysis? MDR provides those specialized analytical skills.  

Your answers to these questions help you understand whether your organization needs comprehensive security operations management, specialized threat detection and response, or both working together to support different aspects of your security posture. 

How to make your decision between an MDR vs MSSP 

Choosing between MDR and MSSP ultimately comes down to your specific needs, available resources, and security objectives.  

Your Situation	Best Fit	Why
Building security program without dedicated professionals	MSSP	Provides comprehensive security operations management including tool configuration, continuous monitoring, and compliance support
Strong internal team needing extended 24/7 coverage	MSSP	Extends your team’s capacity for monitoring and infrastructure management during off-hours while you maintain strategic control
Team drowning in alerts without time to investigate	MDR	Includes specialized human analysts who eliminate false positives and focus investigative efforts on genuine security incidents
Facing sophisticated threats in high-risk industry	Both	Requires comprehensive security operations foundation plus specialized threat hunting to detect and respond to advanced attack methods
Need security operations management plus compliance documentation	MSSP	Delivers broad security management with integrated compliance controls and audit-ready documentation
Lack internal security analysts or incident responders	Both	Provides operational security management and immediate access to specialized investigative and forensic knowledge
Want comprehensive protection with mature security posture	Both	Combines operational security management with specialized threat detection and response capabilities

Beyond this framework, watch for certain red flags when evaluating any security service provider.  

• Vague service level agreements that don’t specify response times or coverage should concern you.  
• Limited transparency about the security tools and methodologies they use suggests potential gaps.  
• Inflexible service packages that don’t adapt to your specific needs rarely deliver optimal value.  
• Poor communication or slow response during the sales process often indicates how they’ll perform under contract. 

Your next steps depend on your assessment. If you’ve identified that MDR addresses your primary concerns, request demonstrations from providers that show their threat hunting methodology, their incident response process, and how they integrate with your existing security tools. For MSSP evaluations, focus on understanding their monitoring scope, alert handling procedures, and what responsibilities remain with your internal team. 

Build Security That Scales With Your Organization 

The MDR vs MSSP decision isn’t really about choosing a vendor category. It’s about understanding what your team needs to protect your organization effectively without burning out from constant firefighting. 

You need security solutions that match your current capabilities while positioning you for growth. Whatever path you choose, the goal remains the same: giving your IT team the support they need to maintain strong security without requiring you to hire specialists for every security function. 

BPM’s security team helps IT leaders at growing companies build practical, scalable security programs that protect what matters without overwhelming internal resources.  

Connect with us to discuss your security challenges and explore solutions designed around your team’s capabilities and constraints. 

For decades, American finance meant New York and Chicago. But a fundamental geographic shift is underway, and Texas is positioned at the center of it. With new exchange infrastructure coming online, major institutional relocations, and billions in capital commitments, the Lone Star State is building the financial services ecosystem that signals a true diversification of the nation’s capital markets landscape. 

Building Exchange Infrastructure Outside New York 

The most visible sign of Texas’s financial evolution is its exchange infrastructure. The Texas Stock Exchange is set to begin trading in 2026, backed by $161 million from BlackRock, Citadel Securities, and other major institutions. NYSE Texas is already operational in Dallas, and Nasdaq has anchored its regional headquarters there as well. 

This makes Texas the only state outside New York to host operations from the New York Stock Exchange, Nasdaq, and a homegrown exchange. The development represents more than regional ambition—it signals that the concentration of capital markets activity is genuinely diversifying, with Texas capturing a significant share of that shift. 

Major Institutional Commitments 

Global financial institutions are making substantial, long-term investments in Texas operations: 

• Goldman Sachs has committed $500 million to a Dallas campus designed to support 5,000 employees 
• Charles Schwab relocated its corporate headquarters to the Dallas area 
• JPMorgan Chase already employs more than 18,000 people across the state 
• PayPal, Visa, and other payment processors have expanded product and technology teams throughout Texas 

These moves go beyond satellite offices or cost-cutting measures. They represent strategic bets on where institutional finance will operate in the coming decades, with the infrastructure investments and workforce commitments that accompany long-term thinking. 

The Economic Fundamentals Driving Growth 

Texas offers several structural advantages that make it attractive for financial services expansion: 

• No state income tax, changing the economics for both corporate operations and individual compensation 
• A $2.7 trillion economy larger than most countries 
• 15.8 million workers providing substantial market density 
• 54 Fortune 500 headquarters creating deep commercial networks 
• Lower operating costs across real estate, utilities, and general overhead compared to traditional financial centers 

These fundamentals create compounding advantages. The cost structure allows reinvestment in growth, while the talent base enables scaling without the compensation pressure common in other major metros. The business-friendly regulatory environment further streamlines operations. 

Two Distinct Financial Ecosystems 

Texas’s financial services growth is developing along two parallel tracks, each with distinct characteristics: 

Dallas: Traditional Financial Services Hub 

Dallas is emerging as the center for traditional institutional finance. The concentration of exchange operations, major bank expansions, and asset management firms positions the city as a conventional financial services center. Goldman Sachs, Schwab, and JPMorgan’s significant presence creates the ecosystem of legal, compliance, and advisory services that support capital markets activity. 

Austin: Fintech and Financial Technology 

Austin has become one of the nation’s fastest-growing fintech centers. Companies like Q2 Holdings develop digital banking platforms that power thousands of financial institutions nationwide, while major players including PayPal, Visa, and Schwab have expanded product and technology operations. The city’s existing technology talent base and startup ecosystem make it a natural fit for companies operating at the intersection of finance and technology. 

This dual approach creates a more robust financial services landscape than either city could build independently, with traditional finance and financial innovation developing in tandem. 

Infrastructure Investments Supporting Long-Term Growth 

Texas has backed its financial services expansion with substantial infrastructure commitments. Recent investments include $5 billion for a Texas Energy Fund, $1.5 billion for broadband infrastructure, and $1 billion for water projects—totaling $7.5 billion in foundational infrastructure. 

Reliable power infrastructure supports data centers and trading platforms where downtime carries significant costs. Broadband expansion enables distributed workforces and fintech innovation beyond major metro areas. Water infrastructure addresses one of the Southwest’s most significant long-term resource challenges. 

These investments signal that the state is planning for sustainable, decades-long growth rather than short-term expansion. 

Looking Ahead 

Financial hubs don’t emerge overnight, but once they reach critical mass, they create self-reinforcing advantages. Talent attracts more talent. Capital attracts more capital. The network of service providers—legal, accounting, technology, compliance—deepens and specializes, making operations more efficient for all participants. 

Texas appears to be at the inflection point of this cycle. Major institutional commitments are finalized, exchange infrastructure is coming online, and the talent base continues building. The Texas Stock Exchange’s 2026 launch will serve as a key milestone, demonstrating whether the state can operate exchange infrastructure that genuinely competes with established markets. 

The development represents more than regional growth—it’s a fundamental shift in American finance’s geographic center of gravity, one that will likely continue shaping the industry for decades to come. 

As we move into 2026, employee benefit plan sponsors face a complex landscape of new regulatory requirements, evolving compliance standards, and heightened scrutiny from the Department of Labor.  Whether you’re managing a defined contribution plan for 50 employees or 5,000, understanding these changes—and implementing strong operational practices—will help you avoid costly corrections while better serving your plan participants. 

Let’s walk through the 2026 employee benefit plan changes to discover what you need to know and do this year. 

Critical SECURE 2.0 Act Provisions Taking Effect in 2026 

The SECURE 2.0 Act continues to reshape retirement plan administration, with several provisions becoming mandatory this year. 

Mandatory Roth Catch-Up Contributions for High Earners 

Starting January 1, 2026, employees age 50 or older who earned more than $150,000 in FICA wages during the previous year must make their catch-up contributions on a Roth (after-tax) basis. If your plan doesn’t currently offer Roth contributions, these employees won’t be able to make catch-up contributions at all. 

The IRS has provided some flexibility through a “deemed Roth election,” which allows participants to opt out if they choose. While full regulatory compliance isn’t required until 2027, your plan must operate under a reasonable, good-faith interpretation throughout 2026. 

Action steps for plan sponsors: 

• Confirm your plan’s Roth functionality is operational 
• Update payroll systems to track employees approaching the $150,000 threshold 
• Coordinate with your recordkeeper to handle the transition smoothly 
• Prepare clear participant communications explaining the new rules 

Annual Paper Statement Requirements 

Your defined contribution plan must now provide at least one paper benefit statement per year unless participants actively opt for electronic delivery. Defined benefit plans must provide paper statements once every three years under the same opt-out conditions. This requirement applies to plan years beginning after December 31, 2025. 

Plan Amendment Deadline Approaching 

All SECURE 2.0-related amendments must be formally adopted by December 31, 2026 (with later deadlines available for governmental and collectively bargained plans). Even though operational compliance has been required since January 1, 2026, your plan documents need to catch up by year-end. 

2026 Contribution and Income Limits 

The IRS released updated limits for retirement accounts in November 2025. Here are the key figures affecting your plan administration: 

Defined Contribution Plans: 

• Employee deferrals: $24,500 (up from $23,500) 
• Maximum annual additions: $72,000 
• Catch-up contributions (age 50+): $8,000 
• Enhanced catch-up (age 60-63): $11,250 

Key Compensation Thresholds: 

• Annual compensation limit: $360,000 
• Highly compensated employee threshold: $160,000 
• Mandatory Roth catch-up wage threshold: $150,000 
• Social Security taxable wage base: $184,500 

These increases provide an opportunity to review your plan’s contribution structures and communicate the enhanced savings potential to your employees. 

New Self-Correction Options for Plan Sponsors 

In January 2025, the DOL introduced a significant change to the Voluntary Fiduciary Correction Program (VFCP) by adding a self-correction component (SCC). This program allows you to voluntarily correct certain ERISA violations without submitting a full VFCP application—potentially reducing both administrative burden and costs for minor errors. 

What Qualifies for Self-Correction? 

The SCC applies to two main categories of common fiduciary breaches: 

Delinquent Participant Contributions and Loan Repayments 

• Lost earnings from late deposits must not exceed $1,000 
• Funds must be remitted within 180 days of withholding 
• Neither the plan nor plan sponsor can be under an ongoing DOL/IRS investigation 

Eligible Inadvertent Participant Loan Failures 

• Applies to errors such as improper loan amounts, failure to withhold repayments, or loans exceeding plan limits 
• The error must be self-correctable under IRS Employee Plans Compliance Resolution System (EPCRS) rules 

To use the SCC, you’ll submit an electronic notice to the DOL through their online VFCP web tool and complete a penalty of perjury statement. For corrections involving delinquent contributions, you’ll compute lost earnings using the DOL’s online calculator and have your plan sponsor pay any penalties or fees. 

Essential Practices for Employee Benefit Plan Operations in 2026 

Beyond regulatory compliance, implementing strong operational practices will help you meet your fiduciary responsibilities while reducing risk. 

Timely Remittance of Contributions 

The DOL continues to emphasize the importance of prompt remittance of participant withholdings into the plan. While small plans (fewer than 100 participants) have a safe harbor of seven business days, large plans must remit contributions “as soon as administratively feasible”—which the DOL generally interprets as within a few business days. Failure to remit contributions timely may result in a prohibited transaction requiring correction and disclosure in your plan’s financial statements and Form 5500. 

Service Organization Control (SOC) Reports 

If you use a recordkeeper or custodian, they should provide an annual SOC 1 report that evaluates the effectiveness of their internal controls relevant to financial reporting. Your responsibility doesn’t end with receiving this report—you need to: 

• Review the report to confirm relevant financial reporting controls are adequately designed and operating effectively 
• Verify that you’ve implemented required “complementary user entity controls” described in the report 
• Document your review process 

Inadequate employer review of SOC 1 reports is one of the most common audit findings. 

Cybersecurity Controls 

Retirement plans hold over $45 trillion in assets and maintain participants’ personal data, making them attractive targets for cybercriminals. The DOL recommends that your cybersecurity program include: 

• Regular cybersecurity awareness training for staff 
• Clear roles and responsibilities regarding encryption of sensitive data 
• Internal or third-party audits of your cybersecurity systems 
• Business continuity and incident response programs 
• Review of third-party service provider security controls 
• Regular, documented reviews of users with administrative access to key IT systems (recordkeeper/custodian websites, payroll providers, and HRIS systems) 

Investment Benchmarking and Fee Reviews 

Fee reasonableness continues to be a focal point in plan litigation. You should conduct regular benchmarking studies—either internally or through an investment advisor—to assess investment performance and fees over various time frames.  

Fee disclosures from all covered service providers must be provided to plan participants annually. Review these disclosures to determine whether fees incurred by the plan are reasonable, and document these discussions in committee meeting minutes. 

Managing Missing Participants 

When plan participants change jobs, many leave their retirement accounts behind, creating a growing number of participants who can’t be located. The DOL has issued guidance on best practices for locating missing participants, including: 

• Sending certified mail to last known addresses 
• Contacting designated beneficiaries or emergency contacts 
• Using online search engines and public record databases 
• Attempting contact via email, telephone, or social media 

Regardless of which methods you use, document your attempts to locate missing participants as part of your fiduciary responsibility. 

Monitoring Defaulted Loans 

If your plan offers participant loans, you’re responsible for setting up loan repayments within the payroll system and verifying that payments are made timely according to the loan’s amortization schedule. You should regularly review your outstanding loan listing, watching for terminated employees and loans in default or approaching default status. If loan payments stop, notify the participant of the missed payment, cure period deadlines, and tax consequences if the loan goes into default. 

Service Provider and Payroll Provider Changes 

If you’re considering changing recordkeepers, third-party administrators, or payroll providers, maintain complete records of all plan-related information before terminating your current provider. This includes plan documents, adoption agreements, trustee agreements, service provider agreements, annual participant statements, eligibility files, trust statements, payroll records, and census files.  

For payroll changes specifically, verify that the new provider understands your plan’s compensation definition, match formula, and loan repayment processes—and confirm how year-to-date accumulators will transfer if the change occurs mid-year. 

Insurance Considerations 

Three types of insurance can help you mitigate risks associated with offering and operating retirement plans: 

ERISA Bonds Required by the DOL, these bonds protect your retirement plan from theft or embezzlement by people handling plan assets. Coverage must equal 10% of plan assets or $500,000, whichever is less (or $1 million for employee stock ownership plans). 

Fiduciary Liability Insurance Covers plan committee members, company executives, and plan trustees should any liability result from fiduciary acts of operating and monitoring the plan. This protection may help you attract individuals willing to serve on your plan committee. 

Cyber Liability Insurance Helps protect retirement plans from risks associated with data breaches or cyberattacks, which have become a heightened concern as more plan and employee data is maintained and transmitted digitally. 

The Evolving Landscape of Alternative Investments 

While not directly related to immediate compliance requirements, it’s worth noting that alternative investments—including private equity, venture capital, private credit, real estate, and cryptocurrency—are gaining attention in qualified retirement plans. An August 2025 White House executive order specifically cited the “potential growth and diversification opportunities associated with private investments” and directed the DOL to reexamine guidance related to alternative investments under ERISA. 

These investments offer potential for higher returns and enhanced portfolio diversification, but they come with specific challenges including higher fees, illiquidity, limited transparency, and wide dispersion of manager returns. If you’re considering alternative investments for your plan, working with advisors who have substantial experience in this area is particularly valuable. 

Take Action Now to Strengthen Your Plan 

These changes and best practices represent more than a compliance checklist—they’re opportunities to strengthen your retirement plan administration, better serve your participants, and meet your fiduciary responsibilities with confidence. 

Key deadlines to remember for 2026: 

• January 1, 2026: Operational compliance with mandatory Roth catch-up contributions required 
• March 15, 2026: Deadline for correcting failed compliance tests for 2025 calendar-year plans 
• December 31, 2026: Deadline to adopt formal SECURE 2.0 plan amendments 

At BPM, we’ve provided employee benefit plan audit, tax compliance, and consulting services for decades. Our team stays current on evolving legislation and can provide guidance tailored to your organization’s specific needs. Whether you need help implementing SECURE 2.0 provisions, addressing audit findings, evaluating your current service providers, or strengthening your operational procedures, we’re here to help. 

Contact BPM today to discuss how these 2026 changes affect your employee benefit plans and to develop a proactive compliance strategy that protects both your organization and your plan participants. 

Your Head of Technology role at a 60-person company shouldn’t be choosing between strategic planning initiatives and resetting passwords. Yet that’s the reality for many SMB technology leaders.  

Building an internal IT team capable of managing core business functions like cybersecurity, disaster recovery, and daily support requires resources most small and medium-sized businesses simply don’t have. IT outsourcing offers a different path. 

Benefits of IT Outsourcing for SMBs 

Here are the benefits of IT outsourcing services for SMBs.  

1. Predictable, Scalable IT Costs Without the Hiring Overhead 

Traditional in-house IT carries operational costs that multiply fast.  

Systems administrators, cybersecurity specialists, and network engineers each command substantial salaries and benefits packages. Add recruitment fees, ongoing training investments, and inevitable turnover expenses, and the true cost of building an internal IT team quickly escalates beyond initial budget projections.  

Business process outsourcing through managed IT providers replaces this uncertainty with transparent, fixed monthly pricing. Instead of juggling multiple salary negotiations and benefits packages, you pay a predictable rate that covers infrastructure support, security monitoring, and help desk coverage for your entire team. This model eliminates the financial risk of hiring decisions while providing access to specialized knowledge across multiple technology domains. 

The cost efficiency extends beyond direct salary savings. You also reduce capital expenditures for servers, monitoring platforms, and infrastructure hardware that your provider already maintains. When you need additional capacity, you adjust your service agreement rather than initiating lengthy recruitment processes. When business slows, you scale back without the difficult decisions and costs associated with workforce reductions. 

Key Cost Savings Advantages of IT Outsourcing 

• Elimination of salary, benefits, and recruitment expenses for specialized IT staff 
• Reduced capital expenditures for servers, monitoring tools, or infrastructure hardware 
• Predictable monthly costs that scale with actual business needs, improving cost efficiency 
• Access to enterprise-grade tools and certifications without individual investment 

2. Access to Specialized Skills Your Internal Team Doesn’t Have 

Your business needs specialized skills across cloud computing, compliance frameworks, endpoint security, and disaster recovery protocols. Hiring specialists in each area isn’t financially viable when you’re operating on an SMB budget. Nor is it practical according to research. 57% of hiring managers struggle to find qualified IT talent in 2025, even as companies increase their outsourcing investments. 

Managed service providers staff dedicated teams with certified professionals across multiple domains, giving you access to a global talent pool. Imagine your internal IT generalist recognizes a ransomware threat but lacks hands on know-how for comprehensive security auditing or advanced threat detection.  

Instead of spending months recruiting a cybersecurity specialist—if you can even find one—you’d have immediate access to certified analysts who can implement enterprise-grade security controls and ongoing threat monitoring through your outsourced IT services. 

This approach offers many businesses a competitive advantage they couldn’t achieve with in-house teams alone while also providing lower labor costs.  

3. Faster Response Times and Proactive System Monitoring 

When your server crashes on Friday at 7 PM, waiting until Monday morning means lost productivity and potential revenue impact. Traditional break-fix IT operates reactively—problems get addressed after they occur, usually during business hours only. This reactive model fails to reduce costs over time because issues escalate before resolution. 

Outsourced IT services deliver continuous proactive monitoring with automated alerts that catch issues before they escalate. Service providers deploy monitoring tools across your infrastructure, tracking server health, network performance, security threats, and application availability 24/7.  

Think about what happens when your backup system starts failing or your email server develops a critical vulnerability. With proactive monitoring, technicians identify and resolve the backup issue before any data loss occurs. They detect and patch the email vulnerability before it can expose client financial data—threats that reactive support models typically miss until damage is done. 

Proactive monitoring delivers critical advantages: 

• 24/7 infrastructure support with automated alerts for potential issues 
• Early detection of security threats, system failures, and performance degradation 
• Reduced downtime through preventive maintenance and rapid incident response 
• Guaranteed response times (typically 1-4 hours) versus days with reactive support 

4. Enterprise-grade Security Without Enterprise-level Investment 

Cybersecurity risks don’t distinguish between Fortune 500 companies and small businesses. In fact, 43% of cyberattacks target SMBs specifically, with ransomware attacks becoming increasingly sophisticated.  

Building enterprise-grade security internally requires specialized talent that most SMBs can’t afford to hire. Third-party providers deliver comprehensive security programs including multi-factor authentication, intrusion detection systems, endpoint protection, continuous vulnerability scanning, and incident response protocols.  

If you’re operating in healthcare, for example, you need HIPAA-compliant network security, including advanced email filtering, phishing simulation training, endpoint detection tools, encrypted backups, access controls, and regular security assessments—capabilities that would require hiring dedicated security staff. 

Critical security capabilities from managed IT providers: 

• Multi-layered defense strategies, including firewalls, intrusion detection, and endpoint protection 
• Continuous vulnerability scanning and patch management across all systems 
• Security awareness training to reduce human error 
• Compliance support for regulatory requirements, including HIPAA, GDPR, and other industry standards 
• Incident response protocols with 24/7 monitoring and rapid threat neutralization 

Outsourcing providers make network security their core business practice, continuously updating defense strategies as the threat environment evolves. 

5. Built-in Disaster Recovery and Business Continuity Planning 

Downtime costs more than most SMBs realize. Research found that unplanned downtime costs companies an average of $300,000 per hour, with some organizations experiencing losses exceeding $5 million hourly. More sobering: 75% of companies without a disaster recovery plan close their doors within three years of a major incident. 

Outsourcing companies implement comprehensive disaster recovery strategies, including automated backup systems, redundant storage with offsite replication, and rapid recovery protocols.  

Consider what happens if a power surge destroys your primary file server. With automated cloud computing backups running every 15 minutes, you could be operational again within four hours with all critical project files, client communications, and financial records intact. Without that backup infrastructure support, you’d face days or weeks of downtime plus potential permanent data loss. 

6. Seamless Scalability as Your Business Grows or Contracts 

Business growth shouldn’t be constrained by IT infrastructure limitations. When you land a major new client requiring 15 additional employees next month, your technology must scale without weeks of preparation. Seasonal businesses need flexibility to adjust capacity during peak periods and scale back during slower months without fixed operational costs. 

Picture your company experiencing business transformation as you grow from 25 to 80 employees over 18 months with accelerating customer engagement. Your outsourcing partner would seamlessly scale infrastructure support—adding users to help desk systems, expanding cloud services and computing resources, implementing more sophisticated network architecture, and enhancing security controls appropriate for your growing operation.  

Building an internal IT staff to handle that growth would require multiple new hires just to maintain service levels, creating recruitment delays at exactly the wrong time while increasing training costs. 

Scalability advantages of outsourced IT: 

• Add or remove users by updating outsourcing contracts rather than hiring or layoffs 
• Flex capacity up during business growth periods or down during slower seasons 
• Access additional specialized knowledge as business needs evolve 
• IT infrastructure that adapts to mergers, acquisitions, or major project demands 

7. Strategic IT Guidance from Experienced Technology Advisors 

IT decisions have lasting business impact. Choosing the wrong cloud platform through outsourcing software development or overlooking security requirements creates technical debt that’s expensive to remediate later. Yet SMB leadership teams often lack the technical skills to evaluate complex technology decisions confidently.  

Selecting the right managed IT provider requires understanding both technical capabilities and strategic alignment. 

Outsourcing partners function as strategic advisors, not just technical support staff. They bring experience across hundreds of client environments, exposure to diverse technology challenges, and an understanding of industry-specific requirements.  

If you’re planning geographic expansion, consulting your managed services provider before signing office leases would help you design cloud-based infrastructure supporting distributed teams without expensive local servers, identify collaboration tools working seamlessly across time zones, and implement security controls appropriate for remote operations. This strategic input prevents the costly mistakes companies often make when implementing technology reactively after expansion decisions are already finalized. 

Strategic value from experienced IT advisors: 

• Guidance on IT infrastructure investments and long-term technology planning 
• Vendor evaluation and software platform selection based on business needs 
• Risk assessment for security, compliance, and operational continuity 
• Technology budgeting aligned with business priorities and growth objectives 

Partner with BPM for Managed IT Outsourcing that Supports your Growth 

Small and medium-sized businesses need technology infrastructure that enables business growth rather than constraining it. Ready to explore the benefits of outsourcing your IT function? 

Outsourced services can eliminate technology headaches while reducing costs and improving reliability. Contact BPM today to discuss your technology challenges and discover how managed IT can provide the competitive edge your business needs. 

When money goes missing or financial records don’t add up, you need someone to investigate. Forensic accountants step into these situations to uncover the truth behind financial crimes. They combine accounting knowledge with investigative skills to trace funds, identify fraud, and provide evidence that holds up in court. 

This specialized field has become increasingly important as financial crimes grow more sophisticated. Fraudsters use complex schemes and advanced technology to hide their tracks, making it harder for traditional accounting methods to catch them. This article will explore what forensic accounting involves, how these professionals can help your business, and why their services matter when you face financial irregularities or disputes.   

Understanding the Role of a Forensic Accountant 

Forensic accountants do more than crunch numbers. They analyze your financial records to find evidence of criminal activity. Their work involves reviewing bank statements, tax documents, and business records to identify suspicious patterns and trace money trails. 

These professionals investigate various financial crimes that can impact your business. They look into embezzlement cases where employees steal from you. They examine insurance fraud claims to determine if they’re legitimate. They also work on complex cases like vendor fraud and money laundering operations. 

The job requires both technical skills and investigative thinking. Forensic accountants must understand accounting principles, but they also need to think like detectives. They look for inconsistencies in financial data and figure out how criminals covered their tracks. 

Finding the Right Forensic Accountant 

You’ll find forensic accountants in many different settings. Accounting firms offer forensic services to help businesses like yours investigate internal fraud or support legal cases. Insurance companies also hire forensic accountants to examine suspicious claims and quantify losses. 

Law enforcement agencies employ them to investigate financial crimes. The FBI, IRS, and local police departments all use forensic accountants to build cases against criminals. Government agencies like the Securities and Exchange Commission rely on forensic accounting to investigate financial misconduct. 

Many larger corporations bring forensic accountants in-house to monitor their internal controls. Banks and financial institutions use them to detect money laundering and comply with regulations. Law firms contract with forensic accountants when they need financial analysis for court cases. 

Learn more about our Forensic Accounting Services

Why Your Business Needs Forensic Accounting 

Financial crimes cost businesses millions of dollars each year. As a small or medium-sized business owner, you’re particularly vulnerable because you may lack the extensive internal controls that larger companies have. Forensic accountants help minimize these losses by catching fraudulent activity early. The sooner you identify a problem, the less damage it causes to your bottom line. 

These professionals also help you stay compliant with regulations. Depending on your industry, you may face strict requirements. Forensic accountants audit financial records to ensure compliance and uncover potential violations before regulators do. 

When fraud does occur in your organization, forensic accountants can often track down stolen funds. They follow the money trail to figure out where it went. This work sometimes leads to recovering assets that seemed lost forever. 

Their findings also strengthen your internal controls. Forensic accountants don’t just tell you what went wrong. They explain how it happened and recommend ways to prevent similar crimes in the future. This guidance is invaluable as your business grows. 

The Investigation Process 

Forensic accountants start by gathering your financial documents and data. They review everything from bank statements to expense reports. They look for unusual transactions, missing records, or patterns that don’t make sense. 

They use specialized software to analyze large amounts of financial data. This technology helps them spot anomalies that might indicate fraud. They also interview people involved in the case to understand the context behind the numbers. 

Once they’ve completed their analysis, forensic accountants compile their findings into detailed reports. These reports must be clear enough for you and others without accounting backgrounds to understand. They often present their findings in court as witnesses, explaining complex financial matters to judges and juries. 

Common Cases for Forensic Accountants 

Employee theft represents one of the most common reasons you might hire a forensic accountant. Workers might steal cash, manipulate payroll, or create fake vendors to funnel money out of your company. These schemes can go undetected for years if you don’t have strong oversight. 

Business partnership disputes also need forensic accounting. When partners disagree about company valuations or breach contracts, forensic accountants provide objective analysis. They help resolve disputes by presenting clear financial evidence. 

Divorce cases involving business owners frequently require forensic accounting services. When you’re going through a divorce, your spouse might question your business valuation or suspect hidden assets. Forensic accountants provide the documentation needed for fair settlements. 

Insurance claims involving business interruption or professional malpractice often require forensic accounting. These professionals quantify your economic damages and verify the legitimacy of claims you file. 

Vendor fraud is another area where you might need help. Dishonest vendors might overcharge you, deliver substandard goods, or engage in kickback schemes with your employees.   

Work with BPM for Your Forensic Accounting Needs 

Financial crimes threaten your business’s stability and reputation. When you suspect fraud or face a dispute requiring financial analysis, you need professionals who can uncover the truth and provide evidence that stands up to scrutiny.   

BPM offers comprehensive forensic accounting services to help you navigate these challenging situations. Our team investigates financial irregularities, supports litigation matters, and helps strengthen your internal controls. We work closely with your legal counsel and management team to resolve disputes and protect your interests. To discuss how our forensic accounting services can help safeguard your business, contact us.  

Every day, utility operations teams keep the lights on, water flowing, and gas moving through pipelines. At the same time, they must defend against sophisticated cyberattacks that could disrupt these essential services. A single breach doesn’t just affect your company, it impacts entire communities that depend on reliable utilities. 

8 Steps to Strengthen Your Cybersecurity Strategy 

Your operations team needs a cybersecurity strategy that protects critical infrastructure while maintaining the service reliability your customers expect. This article will walk you through practical steps to strengthen your security posture, from building the right team culture to implementing technical safeguards that work. 

1. Start With Your People, Not Your Technology 

Technology alone won’t protect your utility. The strongest cybersecurity strategy begins with people who understand the threats and know how to respond. Your operations team interacts with critical systems every day, making them your first line of defense against attacks. 

Create a security-first culture across your organization. This means moving beyond annual training sessions that employees forget within weeks. Instead, build ongoing awareness into daily operations. When your team reviews system logs, conducts equipment inspections, or troubleshoots issues, they should think about security implications. 

“If OT staff are reluctant to adopt cyber security principles the best way to bring them on board is to demonstrate exploitation of the vulnerabilities operations chooses to expose. Additionally, describe the bigger cyber picture to OT staff so they can envision vulnerabilities chained together across the boundaries of their specific purview. This creates the full path for an attacker to write changes to SCADA systems and will show operations the precarious state of the OT/SCADA network.” – Ryan Ferran  

A joint study from Stanford University Professor Jeff Hancock and security firm Tessian revealed that 88% of data breach incidents are caused by employees’ mistakes. Your operations team needs practical knowledge about phishing emails, social engineering tactics, and suspicious system behavior. Make training relevant to their specific roles. A field technician needs different security knowledge than a control room operator. 

Hold monthly security discussions during team meetings. Share recent incidents from the utility sector to help your team recognize attack patterns. When staff understand how hackers exploit staging targets like third-party vendors, they become more vigilant about vendor access to your systems. 

2. Build Your Cybersecurity Council 

Your utility operations require a dedicated team focused on security. Form a cross-functional cybersecurity council that brings together operations, IT, engineering, and leadership. This council serves as the strategic hub for all security decisions affecting your operational technology. 

The council should meet regularly to assess threats specific to utility operations. Unlike corporate IT systems, operational technology controls physical processes. A breach in your SCADA system or control center communications could disrupt service delivery or create safety hazards.  

“Committees, councils, and general governance comes natural, but if real-world change is the problem create or assign cyber security duties to OT staff directly. Appointing an OT cyber security champion with security responsibilities will drive better security practices. You should expect your champion to liaise with IT, especially for implementation.” – Ryan Ferran 

Your council needs clear responsibilities. They should evaluate emerging threats, prioritize security investments, and ensure operational technology receives the same protection as business systems. Make sure the council includes operations personnel who understand how your systems actually work. Security measures that sound good in theory can interfere with operations if you don’t involve the people who use these systems daily. 

Senior leadership must actively support the council’s work. When executives prioritize cybersecurity, they send a message that security matters as much as uptime and efficiency. This support also ensures the council has resources to implement necessary changes.  

3. Secure Your Supply Chain 

Hackers increasingly target utilities through their vendors. These attacks work because third-party suppliers often have weaker security than the utilities they serve. A vendor with legitimate access to your systems becomes a pathway for attackers to reach your critical infrastructure. 

The North American Electric Reliability Corporation’s CIP-013-1 standard addresses this risk. You need plans that cover software integrity, vendor remote access, procurement controls, and risk management. But compliance alone isn’t enough. 

Start by examining every vendor relationship. Which suppliers have remote access to your operational systems? What security measures do they maintain? Include specific security requirements in all contracts and requests for proposals. Better yet, tie vendor payments to validated security controls. This approach motivates vendors to take your security requirements seriously. 

For hardware and software from overseas manufacturers, require tamper-evident packaging and tracked shipments with certified signatures. Create an audit trail from the vendor’s facility to your site. While this seems demanding, remember that sophisticated attackers target supply chains precisely because they offer easier access than direct attacks on utilities. 

Before granting any vendor access to your network, conduct thorough background checks on their employees. Use only secure, encrypted connections from vendor networks. Review the vendor’s own security policies to understand how well they can protect data and interconnections between systems. Request documentation of attestation for your vendors’ most recent security assessment.  

4. Protect Your Operational Technology 

Your operational technology runs on different principles than traditional IT systems. Control systems prioritize availability and reliability over security updates. Many systems run on legacy platforms that weren’t designed with modern cyber threats in mind. 

Map out all ports, services, and protocols your operational systems use. Only enable the specific ports and services necessary for operations. Disable unused network ports and services on all devices. This reduces the attack surface available to hackers attempting unauthorized access. 

Implement a strict patch management process for operational systems. Track every security update from your vendors. Test patches thoroughly in a controlled environment before deploying them to production systems. Patches can sometimes cause unexpected behavior or downtime, so you need to balance security against operational availability. 

Use network segmentation to isolate critical operational systems from business networks. If attackers compromise your email or financial systems, they shouldn’t be able to pivot to systems controlling physical infrastructure. Deploy firewalls and intrusion detection systems at these boundaries to monitor traffic and block unauthorized access. 

5. Monitor and Detect Threats Continuously 

You can’t defend against threats you don’t see. Modern threat detection uses automation and artificial intelligence to identify suspicious activity across your operational networks. These tools analyze patterns, flag anomalies, and alert your security team to potential breaches.  

Configure your systems to send alerts when specific events occur, such as failed login attempts, unusual data transfers, configuration changes, or system errors. These alerts enable your operations team to respond quickly to potential security incidents. 

Deploy a Security Incident Response Team that operates as part of your cybersecurity council. This team owns the process for detecting, containing, and recovering from security incidents. They should conduct regular training exercises that simulate cyberattacks on your operational systems. 

6. Test Your Defenses Regularly 

Security audits reveal weaknesses before attackers exploit them. Schedule vulnerability assessments and penetration testing at least annually, though quarterly testing provides better protection. These tests should include both your IT and operational technology environments. 

Hire third-party security auditors who specialize in utility infrastructure. They bring fresh perspectives and knowledge of current attack techniques. Internal teams can miss vulnerabilities they’ve grown accustomed to seeing. 

Test your incident response plans through tabletop exercises and live simulations. When an actual attack occurs, your team won’t have time to figure out procedures. Regular testing ensures everyone knows their role and can execute the response plan efficiently. 

7. Strengthen Access Controls 

Strong passwords and proper access management form a fundamental security layer. Operations teams often share credentials to maintain system access during shift changes or emergencies. This practice creates security gaps. 

Implement unique credentials for every user, including operations personnel, administrators, and vendors. Use role-based access controls that grant permissions based on job responsibilities. A field technician shouldn’t have the same system access as a control room supervisor. 

Generate complex passwords longer than 14 characters with mixed letters, numbers, and special characters. Deploy a password manager that securely stores credentials and enables appropriate sharing across operations teams. This approach balances security with operational needs. 

Add two-factor authentication for access to critical systems. This extra layer stops attackers who steal or guess passwords. Even if someone obtains valid credentials, they can’t access systems without the second authentication factor. 

8. Plan for Recovery 

Despite strong defenses, you must prepare for potential breaches. Implement comprehensive data backup systems that create regular copies of critical configuration data, system settings, and operational information. Store backups in secure, offline locations or encrypted cloud storage. 

Develop detailed recovery plans that outline steps for restoring operations after a cyberattack. These plans should address different scenarios, such as ransomware, data theft, control system compromise, or infrastructure damage. Assign specific responsibilities so everyone knows what to do during recovery. 

Test your backup and recovery procedures regularly. A backup system that fails when you need it provides false security. Make sure your operations team can actually restore systems from backups within your target recovery time. 

Learn more about our Cybersecurity Services

Partner with BPM for Stronger Cybersecurity Strategy  

Building and maintaining a comprehensive cybersecurity strategy requires specialized knowledge and ongoing attention. Your operations team focuses on delivering reliable utility services – adding cybersecurity responsibilities can stretch resources thin and leave gaps in your defenses. 

BPM works with utility operations teams to strengthen cybersecurity posture while maintaining operational efficiency. We understand the unique challenges facing utilities, from legacy system constraints to regulatory compliance requirements. Our team helps you build security programs that protect critical infrastructure without interfering with day-to-day operations. To discuss how we can help your operations team defend against evolving threats while maintaining the service reliability your customers depend on, contact us. 

If you’ve made the decision to upgrade from QuickBooks or another legacy accounting system to NetSuite. It’s a smart move, one that promises unified financial management, real-time visibility, and the scalability your growing business needs. The NetSuite license is purchased, your team is motivated, and you’re ready to transform your financial operations. 

Then comes the question: should you implement NetSuite on your own or bring in a consulting partner? 

On the surface, DIY implementation seems like the cost-effective choice. After all, your team knows the business better than anyone. Why pay for outside help when you can handle it internally? 

The reality isn’t as simple as it may appear. 

The True Price of Learning on the Fly 

NetSuite is a comprehensive enterprise resource planning system that touches every corner of your business. The platform’s flexibility is one of its greatest strengths, but it also creates complexity that DIY implementers often underestimate. 

Consider the opportunity cost: if your controller and two senior accountants spend 20 hours per week on implementation tasks for six months, you’re looking at over 1,500 hours of diverted attention. At a fully loaded cost of $75 per hour, that’s more than $112,000 in internal resources. And that’s before accounting for the productivity lost in their regular roles. 

Configuration Mistakes That Compound Over Time 

When you implement NetSuite without experienced guidance, you’re making foundational decisions without understanding their long-term implications. And these aren’t decisions you can easily reverse. Reconfiguring a live NetSuite instance after you’ve been using it for months means data migration, historical adjustments, and potential disruption to your financial close process. 

Common configuration mistakes in DIY implementations include: 

• Overly complex chart of accounts that creates reporting headaches 
• Inadequate subsidiary and department structures that limit financial visibility 
• Missing or incorrect tax configurations that create compliance risks 

Each of these mistakes carries a price tag in time, money, and missed opportunities for strategic financial management. 

The Data Migration Minefield 

Moving your financial data from QuickBooks or another legacy system into NetSuite is where many DIY implementations run into serious trouble. 

Without a structured data migration methodology, you’ll face: 

Data integrity issues: Customer names that don’t match between systems, duplicate vendor records, and inventory items with inconsistent naming conventions all create problems that multiply once they’re in NetSuite. 

Historical reporting gaps: If your data migration doesn’t maintain the integrity of period-over-period comparisons, you lose the ability to analyze trends and make informed decisions based on historical performance. 

Extended timelines: Teams that underestimate data migration complexity often find themselves stuck in implementation limbo, unable to go live with NetSuite but no longer confident in their old system. 

The Change Management Challenge 

Technology implementation succeeds or fails based on user adoption. Without a structured change management approach, you’ll face resistance, workarounds, and ultimately a system that isn’t delivering the value you expected. 

Professional implementation partners bring proven change management methodologies that include: 

• Role-based training programs that focus on how each user will work in NetSuite 
• Progressive rollout strategies that build confidence before expanding functionality 
• Executive communication that reinforces the strategic importance of the change 
• Ongoing support during the critical first months after go-live 

DIY implementations often shortchange change management because internal teams are too focused on technical configuration. The result? Finance staff who are unsure of your new system, operations teams that resist using the new inventory module, and executives who don’t yet trust the reports NetSuite generates. 

Learn more about how to Switch and Upgrade to NetSuite

Best Practices You Don’t Know You’re Missing 

NetSuite has evolved over two decades, and the platform includes hundreds of features and configuration options. Implementation partners who work with NetSuite daily across multiple industries bring accumulated wisdom about what works, what doesn’t, and what to avoid. 

They’ve seen the mistakes other companies have made and learned how to prevent them. They know which features solve specific business problems and which ones add complexity without commensurate value. They understand how growing businesses evolve and can configure your system to accommodate future needs without overcomplicating your initial implementation. 

This institutional knowledge isn’t available in NetSuite’s documentation or community forums. It’s derived from experience. 

The Timeline Reality Check 

Most businesses underestimate how long DIY NetSuite implementation takes. What starts as a “90-day project” stretches to six months, then nine, then a year. During this extended timeline, you’re operating in a state of uncertainty—not fully confident in your old system but not yet able to rely on NetSuite. 

This implementation limbo creates its own hidden costs: 

• Delayed strategic initiatives that depend on better financial visibility 
• Deferred hiring or expansion plans because you’re waiting for the new system 
• Mounting frustration among team members who see the project dragging on 
• Opportunity costs from competitors who moved faster with their digital transformation 

Professional implementation partners work with defined methodologies and realistic timelines. A phased approach to NetSuite deployment can have your core financial management live in six weeks, with additional functionality rolling out in subsequent phases. This gets you to value faster while minimizing disruption to ongoing operations. 

Calculating the Real Cost Difference 

Let’s be honest about the numbers.  

Professional NetSuite implementation requires investment. But when you calculate the total cost of ownership, the equation changes dramatically. DIY implementations carry hidden costs in diverted internal labor, extended timelines that delay business benefits, configuration mistakes requiring expensive rework, data integrity issues, integration gaps, change management failures, and ongoing support challenges. Partner-led implementations involve transparent professional services fees but deliver accelerated timelines, proven best practices, clean data migration, reliable integrations, structured change management, and continuous optimization. When you account for all the hidden costs, DIY implementation often costs as much or more than working with an experienced partner. 

A Smarter Path Forward 

The decision to implement NetSuite represents a strategic investment in your company’s financial infrastructure. You’re not just buying software; you’re transforming how your business manages operations, makes decisions, and scales for growth. 

You technically can implement NetSuite yourself. With enough time and perseverance, many companies eventually get a basic system running. But the real question is whether that’s the best use of your resources and whether the result will truly support your business objectives. 

Ready to Make Your NetSuite Implementation a Success? 

At BPM, our certified NetSuite professionals have helped dozens of growing businesses successfully transition from legacy accounting systems to fully optimized ERP environments. Our NetSuite Accelerator Program provides a structured, phased approach that minimizes risk while accelerating your time to value. 

We’ll work with you to understand your specific business processes and requirements, then deliver a NetSuite implementation configured to your needs. 

Contact BPM today to discuss how our NetSuite implementation services can help you avoid the hidden costs of DIY and get to value faster. 

Your company just closed its best quarter yet. Revenue is climbing, you’re adding headcount, and new opportunities keep coming.  

But behind the scenes, you’re finances are either falling behind or barely keeping pace.  

You know you need help, but you’re not sure what kind. Should you hire a bookkeeper? Bring on an accountant? Start looking for a CFO? The terminology alone is confusing, and making the wrong choice could cost you months of momentum and thousands of dollars in missteps. 

Here’s what we’ll clarify today: 

• The fundamental differences between bookkeepers, accountants, and CFOs 
• How to assess which financial functions your business actually needs right now 
• Why outsourced accounting solutions often provide better results for companies in growth mode 

What Bookkeepers, Accountants, and CFOs Actually Do 

The easiest way to understand these three roles is to think about them as different levels of financial engagement. Each builds on the previous one, moving from recording transactions to analyzing them to using that analysis for strategic decisions. 

Bookkeeping  

Bookkeepers handle the foundational work.  

They record daily transactions, reconcile bank statements, manage accounts payable and receivable, and process payroll. Think of bookkeeping as maintaining an accurate, up-to-date record of all money moving in and out of your business. It’s essential work, but it’s primarily backward-looking and transactional. 

Accounting 

Accountants take the data from the bookkeeping work and make sense of it.  

They prepare financial statements, help to ensure compliance with accounting standards, manage tax preparation, and provide analysis of your financial position.  

Accountants don’t just record what happened—they interpret it, identify patterns, and help you understand what your numbers mean for your business’s health.  

CFO 

CFOs operate at the strategic level.  

They use financial insights to drive business decisions, create forecasts and budgets, develop growth strategies, manage relationships with investors or lenders, and guide executive leadership on financial risk and opportunity. A CFO doesn’t just tell you what your numbers say—they tell you what to do about it. 

The challenge for growing businesses is that you rarely need all three functions at full capacity simultaneously. A $5 million company doesn’t need the same financial infrastructure as a $50 million company, but it needs more sophistication than a startup. Understanding where your business falls on this spectrum is the first step toward building the right financial team. 

How to Know Which Financial Capabilities Your Business Needs Right Now 

The question isn’t really “do I need a bookkeeper or an accountant?”—it’s “what financial capabilities does my business require to operate effectively and grow strategically?” Job titles matter less than functions. 

Start by assessing where your current financial operations are breaking down.  

Are invoices getting paid late because nobody’s tracking accounts receivable? That’s a bookkeeping gap. Are you making pricing decisions without understanding your actual unit economics? That’s an accounting gap. Are you turning down growth opportunities because you can’t articulate your financial capacity to investors or lenders? That’s a strategic finance gap. 

Bookkeeping vs Accounting 

Here are the clearest signs you’ve outgrown basic bookkeeping and need accounting-level support: 

• You can’t produce accurate financial statements within two weeks of month-end 
• You’re making major business decisions without understanding their financial implications 
• Tax season creates chaos because your books aren’t organized for tax preparation 
• You’re spending more time fixing data errors than analyzing business performance 
• You need financial reporting for investors, lenders, or board members but can’t generate it reliably 

Accounting vs CFO 

The move from accounting to CFO-level strategy is equally distinct. You know you need strategic financial leadership when you’re facing questions like:  

Should we raise capital or bootstrap? Which product lines actually drive profitability? How do we price for a new market? What does our cash runway look like if we accelerate hiring?  

These aren’t accounting questions—they’re business strategy questions that require financial skills to answer. 

When to Hire an Outsourced Accountant vs Building an In-house Team 

Let’s address the assumption most business leaders make: that hiring an in-house accountant is the default solution. It’s not, and for rapidly scaling mid-market companies, it’s often the wrong move. 

That single hire gives you one person’s experience, one person’s availability, and one person’s capacity. When they’re on vacation, sick, or leave for another opportunity, your financial operations stop or scramble. When you encounter a complex tax situation or need experience in revenue recognition standards, you hope that person has the right background. 

Outsourced accounting services provide a fundamentally different model. You get a team with diverse skillsets, scalable capacity, and proven processes. You’re not paying for downtime, training, or benefits—you’re paying for outcomes. 

The case for outsourcing becomes even stronger during rapid growth. When your business is scaling quickly, your financial operations need to scale with you. Hiring takes months. Training takes more months. Building processes from scratch takes even longer. Outsourced accounting teams bring established systems, technology infrastructure, and immediate capacity that grows with your business needs. 

This doesn’t mean in-house finance roles never make sense. Companies with highly specialized industry requirements or complex international operations benefit from dedicated internal finance leadership.  

But for most mid-market businesses in growth mode, outsourced accounting provides faster implementation, lower risk, and better results than building from scratch. 

Get the Financial Clarity Your Growing Business Deserves 

Scaling a mid-market business is challenging enough without worrying whether your financial operations can keep pace.  

BPM’s outsourced accounting services provide the comprehensive financial capabilities you need—from accurate bookkeeping to strategic insights—without the cost and complexity of building an entire finance department. 

Ready to build a financial function that scales with your ambitions?  

Contact BPM to explore how outsourced accounting can give your business the clarity and confidence to grow.