Schneider Downs drives efficiency and client value

Schneider Downs is a prominent Pittsburgh-based accounting, business advisory and risk advisory firm. Since 1956, Schneider Downs & Co., Inc. has been providing accounting, tax, consulting and business advisory services through innovative thought leaders who deliver their expertise to meet the individual needs of each client. The firm has historically continued to develop its people, add talent and invest in technology to offer new services and solutions to meet the evolving needs of its clients.

With 550 employees and 60+ partners, the firm specializes in traditional CPA services like audit and tax work, as well as risk advisory services, including IT and cybersecurity. Their commitment to long-term client relationships and high-service standards sets them apart in the industry.

Challenges

Schneider Downs faced several challenges that necessitated a shift towards more efficient and streamlined processes. A significant issue was the industry's talent shortage, particularly the scarcity of skilled auditors familiar with the diverse frameworks Schneider Downs operates within, such as PCI and HITRUST. Additionally, the firm faced competitive pressures, such as the need to continue delivering high-quality services in a cost-effective manner.

Their traditional methods involved managing client data across multiple platforms, leading to inefficiencies and increased risk due to inconsistencies in documentation. Furthermore, the firm’s reliance on legacy solutions hindered their ability to modernize and improve their processes. The need to reduce administrative burdens, like the time spent on formatting documents and syncing data, was crucial to allow their professionals to focus more on client advisory roles and less on time-consuming tasks.

Solution

Schneider Downs needed proven software to address these challenges. After searching for the right solution, the team chose Fieldguide’s AI platform to replace the firm’s on-premise tools, providing a modern, flexible solution that enhanced their overall efficiency by automating previous manual repetitive tasks and centralizing data in a single platform.

“Fieldguide makes it easy to keep data in sync. We don’t have to update information three different times any more. Those were big pain points and risks before. There isn’t anything that works and does that like Fieldguide.” - Tim Wolfgang, Senior Manager, Risk Advisory Services at Schneider Downs

Fieldguide’s features like collaborative client request lists and sharing of real-time test results further streamlined their processes. By implementing Fieldguide, Schneider Downs standardized their engagement processes, reducing the risk of inconsistencies and improving their ability to train new employees on a unified system. The tool’s modern reporting capabilities allowed them to deliver more polished and professional reports to clients, further enhancing their service quality.

Results

Since implementing Fieldguide, Schneider Downs has experienced notable improvements in their operations. The firm saw a 20% to 30% increase in efficiency year over year for SOC reports, with substantial time savings in engagement setup and report generation. Fieldguide’s ability to centralize and standardize data management allowed Schneider Downs to significantly reduce the risk of errors and inconsistencies.

“With SOC engagements and issuing SOC reports, we’ve measured year over year time efficiency to be about 20 percent the first year with Fieldguide, and 30 percent the next year. We are definitely trending upward with efficiency.” - Karl Bixler, Manager, IT Risk Advisory at Schneider Downs

Fieldguide reports not only improved the appearance and professionalism of the firm’s reports but also streamlined the internal review and approval process, reducing the lead time to finalize reports. Additionally, Schneider Downs saw a significant reduction in time spent on data entry and formatting, allowing professionals to focus on higher-value tasks such as client advisory services. The standardized templates and automated workflows provided by Fieldguide eliminated the need for manual adjustments, further reducing the potential for human error.

“Having a technology like Fieldguide that is used consistently across the board for all aspects of an engagement from creation to closing allows us to have one consistent and efficient process. Fieldguide frees up our time to be a trusted advisor and drive value for our clients.” - Jake Katz, Manager, IT Risk Advisory at Schneider Downs

Schneider Downs’ training and onboarding for new employees became more streamlined, thanks to Fieldguide’s intuitive interface and standardized procedures. This has been particularly beneficial in addressing the talent shortage issue since less time is required to bring new auditors up to speed. More staff members are now involved in various aspects of the engagement process, reducing the risk of tribal knowledge that existed before Fieldguide centralized the firm’s processes and expertise.

With Fieldguide, client satisfaction also improved due to the more efficient and transparent engagement process. Clients appreciated the enhanced transparency and collaboration features, such as the integrated request lists and real-time progress tracking.

“We've had a lot of positive client feedback with Fieldguide. They like how we can have a conversation within each individual request and the ability to track progress from start to finish using the dashboard. There's more client transparency and collaboration that happens due to Fieldguide’s flexibility.” - Karl Bixler, Manager, IT Risk Advisory at Schneider Downs

Conclusion

Schneider Downs’ partnership with Fieldguide has been instrumental in overcoming their operational challenges. By adopting Fieldguide’s innovative AI platform, the firm achieved significant efficiency gains, improved client service, and continues cementing its position as a top-tier accounting, business advisory and risk advisory firm.