Focus on what counts

New York Business Leaders: Patricia Cummings

Accounting and Advisory Firm Paves a Path to Success for Clients, Team

Bloomberg Businessweek, Money, and Fortune Magazines
February 26, 2018

 

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Citrin Cooperman focuses on talent and innovation - to exceed client expectations and take on the competition.

As Seen In Bloomberg Businessweek, Money, and Fortune Magazines

Featuring: Patricia A. Cummings, CPA, MBA, Co-Managing Partner, New York City Office

When Patricia Cummings, NYC Office Co-Managing Partner, came to Citrin Cooperman four years ago, she brought a unique perspective to help position the firm as an alternative to the Global 6 accounting firms— firms at which she’d spent the better part of the previous 20 years.

“We offer the same quality services to the same industries as our competition,” she says. “But there’s much that we focus on that adds value to the client experience and that the competition can’t match.”

Founded in 1979 by CEO Joel Cooperman and Niles Citrin, Citrin Cooperman currently employs approximately 1,000 people in 10 East Coast offices, in addition to an India affiliate, and reported $250 million in revenue in 2017. Top client categories include real estate, entertainment, financial services, franchising, private equity, technology and manufacturing. While audit and tax compliance services are the firm’s bread and butter, Cummings mentions a serious commitment and continued investment in the firm’s advisory service line, through which the firm has chosen to differentiate itself.

“When our clients are free to focus on what counts, business thrives. We make that possible by performing the tasks they can’t— or shouldn’t— so they can concentrate on getting the job done,” Cummings explains. “Exemplary talent and innovation are two of the strengths that enable us to exceed client expectations.”

Talent

Accounting is a profession in which the demand for qualified staffing is exceeding supply. And yet, Citrin Cooperman seems to be a magnet for hardworking, talented and experienced professionals. According to Cummings, that’s not by accident.

“Citrin Cooperman prides ourselves on providing a different culture that focuses on taking a big picture view of our employees – providing them with tools they need for professional growth and benefits to ensure personal balance,” she says.

Citrin Cooperman finds itself in a solid position moving forward as a result of options that allow team members to better balance work and life, and better manage their career trajectories, along with encouraging our partners to have many touch points with their clients.

“We’re fortunate to have a robust team—especially in light of the challenges faced in recruiting and retention in the industry today. We listen to our employees and are working proactively to retain them on their terms.”

Innovation

“Technology is already changing how we do business,” Cummings notes.

She describes the benefits of advanced analytic tools as plentiful. Data extraction, for example, is faster and more accurate, both reducing costs and improving the final product. Furthermore, the introduction of artificial intelligence and even robotics into the work process has the potential to limit or eliminate human error, deception, and fraud.

“We’ll take any competitive advantages we can get, and in terms of innovation, Citrin Cooperman is diving right in.”

As for the future, Cummings suggests the firm will continue to experience strategic growth as it has over the last several years.

“We don’t want to be everywhere— only where it makes sense for us, client-wise and industry-wise. That’s been the key to our growth to this point. We have a few irons in the fire that could help us expand our reach into new-to-us regions of the country. It’s an exciting time for Citrin Cooperman, and I’m thrilled to be a part of it.”