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Monday, August 10, 2015

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The Future is so Bright


When looking to the future in California, we see a bustling economy, beautiful weather (save for the drought), and lots of new people moving to the golden state.  New people in turn, lead to new customers, both residential and commercial, and a large increase construction.  These changes come as great news to any solid waste removal company in California.  After years of seeing decreased revenue from a recession coupled with increased legislation, it finally seems that solid waste removal service rates may be balancing out and making the future bright.

But with a bright future, some solid waste companies become lax in planning and forward thinking.  Because when things are going well some companies tend to stay complacent and go with the status quo.  Best case is some solid waste companies will focus on the immediate future, examining collection rates as how they will apply the next year and to possible contract extensions.  But as things improve companies should also look ahead to years down the road and what the best course of action is for the company as a whole. 

As many solid waste hauling companies are family owned and operated in the California, the future of company is a paramount importance.  Families and companies alike should consider what type of role they want to play with each other as it comes to the operation of the solid waste hauler.  Succession planning, although not fun, is at the forefront of the solid waste industry.  A good first step to consider is getting a valuation of one’s organization.   Valuations can be done in many different ways, examining a company’s value on market value, internal succession or the possible creation of internal employee succession through an employee stock option plan.  Armanino’s division of Financial Horizons can help you best prepare for your upper level succession needs. 

With upper level succession under thought, another area to look at is managerial succession.  No one wants to admit that with an aging workforce and looming retirement for many trusted employees it is time to start thinking about filling those needed and trusted roles.  Finding the right employees to fill important positions is hard to do.  But there is hope; Armanino’s Executive search division will help you find the right employee.  Combined with our CFO advisory services, we can offer all the help needed when helping and training the right employees for succession to trusted management positions.

Finally planning for technological changes is also a big change to the waste industry.  As the world becomes a smaller and smaller place due to technology, companies must learn how to integrate or be passed up by something smarter and cheaper.  Solid waste companies are now using multiple levels of accounting, tracking, billing and routing software.  The problem is finding something that will help get them to work together and provide real time budgeting and forecast solutions.  Armanino’s INTACT and dashboard consulting services offer a good compliment to any solid waste company’s technological needs.

How Armanino Can Help?
Planning for the future is not always a pleasant endeavor.  For many companies, the benefits of succession planning will outweigh the costs, and establish a plan for your organization to thrive in the years to come.  Armanino, through its divisions of Financial Horizons, CFO Advisory services, INTACT solutions and Executive search can help with navigating through the complexities of this new frontier.

Contact David Button, Business Development Specialist, at David.Button@armaninollp.com or Bill Brause, Audit Partner, at Bill.Brause@armaninollp.com or 925-790-2600 with questions or for more information. Armanino Certified Public Accountants & Consultants is that largest CPA firm Based in California with offices in San Ramon, San Jose/Santa Cruz, San Francisco and our newest office in Santa Monika (open August 1, 2015). Visit www.armaninollp.com.

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