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Eide Bailly: Focused on innovation

November 1st, 2018 by Amanda Huggett

Last summer, Eide Bailly celebrated 100 years of serving clients through tax, audit and accounting services. But over the years, the firm has added a variety of specialty services and grown to be much more. Focused on innovation to evolve with industry trends and best serve their clients, they’ve become known as the trusted business advisors. And it’s what has driven their success.

Leveraging technology in an automated world and focusing on their people seems to be the Eide Bailly secret sauce. The firm has taken on more work in the cybersecurity arena and is even looking into leveraging artificial intelligence in the audit process, where different algorithms can analyze data in new ways. A new service line—business outsourcing and strategy—helps organizations with day-to-day tasks such as payroll and CFO services. Idea Hub was launched to give employees a platform to voice ideas, and an Innovation Council allows the firm to see how to capitalize on ROI, look at different teams and projects, and help identify failures as a way to learn and move on.  And in a brand-new role, the Chief Innovation Officer stays focused on innovative strategies to keep the firm competitive and forward-thinking.

What else could be next? Eide Bailly is continuing to implement diversified professional and advisory services to remain relevant and create value. They’ll also utilize more digital strategy, automation processes, AI, machine learning and robotic processes in service areas to raise the productivity of their people and their client work. They’re ready to be disruptors and help their clients in their challenges as well.

First Focus, Eide Bailly’s women’s leadership initiative, has been one of the most successful initiatives the firm has undertaken. “This organization puts focus on the empowerment of women at all levels in the organization, and that helps us in an ever-changing and challenging industry. We would not have experienced such growth and success in the firm in the last few years without this program.” – Chad Flanagan, Partner in Charge, Fargo

Idea Hub

A new online community that allows Eide Bailly employees to share their ideas and vote with either a “thumbs up” or “thumbs down.” Ideas that net more than 15 “thumbs up” votes are guaranteed an official response and consideration by an innovation council.

So far Idea Hub has generated…

  • 895 ideas
  • 42 in consideration
  • 26 in progress
  • 186 completed
  • 102 declined
  • And many more to get to!

Some of the fun ideas implemented so far…

  • Added a breast milk shipping service for new moms who travel for work
  • Each employee receives $100 to shop in our year-round store to buy EB branded items and wearables
  • A floating holiday was added the day after July 4th
  • Added docking stations for laptops for managers and above
  • Split wastebaskets for different types of recycling
  • Added new insurance benefits, such as pet insurance and help paying for IVF treatments
  • Technology updates and improvements, such as privacy screens, wireless devices and updated programs and systems

 

Meet the EB Innovators

Ross Manson, Chief Innovation Officer

  • “Innovation is comprised of two words: awareness and relevancy. Relevancy takes hold when you’re aware of the landscape and how you are acting on this to remain innovative with your clients.”

 

  • “There is a process for being innovative; it doesn’t just happen on its own. There needs to be a platform for idea creation and generation.”

 

 

Chad Flanagan, Partner in Charge, Fargo

  • “Previous failures in innovation should not prevent us from pursuing new or similar ideas especially as markets, technology and processes change.”

 

  • “I’m focused on innovating our client experience. We want to constantly improve the way we help our clients feel understood, connected and confident.”

 

Awards won from the EB Technology Consulting group

  • 2018 Oracle + NetSuite America’s Solution Provider Partner of the Year
  • 2017 Oracle + NetSuite America’s Solution Provider Partner of the Year
  • 2015 NetSuite Worldwide Partner of the Year
  • 2013-2018 NetSuite 5-Star Award Winner
  • NetSuite Global Top 5 Partner
  • Salesforce Gold Consulting Partner
  • Microsoft Gold Partner
  • Sage Diamond Partner

 

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