Case study details
Client: One of the largest providers of warehousing services in the United States, which has 32m sq. feet of warehousing
Sector: 3PL (third-party logistics)
Requirement: Accounting assistance, audit & tax work
Region: United States & Asia Pacific
Lead Partners: Doug Roozeboom, Partner at RSM in the US, and Maria Tsang, Partner at RSM in Hong Kong
RSM was given the opportunity to show its global capabilities when the network was appointed to lead an international engagement that required the highest quality work, good coordination and most importantly of all - a fast response.
It was in early 2013 when the client contacted RSM in the US. They needed accounting assistance to help them prepare the sale of their Asian-based businesses. But timescales were short, as they wanted completion by the summer of that year.
Things moved quickly. It took just over a week, from the moment the client first contacted Chris Andersen, a Tax Partner at RSM in the US, for the project team and the Asian-based accounting team to meet in Hong Kong.
The US-based parent client’s subsidiaries were in China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. They therefore needed a team in multiple locations that was able to work together seamlessly.
The project completed on schedule
The project was a success. Having common internal procedures and approaches across the RSM network avoided confusion. Regular calls ironed out issues as they arose and in July 2013 the businesses were sold.
In fact, the project went so well the client appointed RSM in the US as auditors and tax advisors to its US client and the new business in Asia appointed RSM Nelson Wheeler.
The qualities demonstrated in this project explain why the RSM network exists. Expertise, cooperation, local country knowledge and great communication are essential ingredients of the network - and without them this project would never have progressed so swiftly.
For Doug, these qualities are essential for clients who want to do business internationally as well as the future of RSM member firms: “McGladrey supports many companies with revenues between $100-$500m who want to expand internationally but don’t have the knowledge or experience required. RSM firms bring expertise and an understanding of local country tax, employment laws and regulations that clients need to understand to be successful.”