In this Friday Conversation, we’re joined by Peggy Evleth, Manager at RSM NetSuite Global Practice, and Bryan Dunford, Executive Vice President at Advantus Corp. With David Rowley from RSM as our moderator, Bryan dives into his extensive experience with digital transformations and acquisitions, which have been pivotal to Advantus Corp.’s growth. He explains how embracing new technologies and a strategic approach to acquisitions has strengthened their competitive edge in consumer products. Meanwhile, Peggy shares her expertise in ERP transitions, providing a global perspective on optimizing client solutions and the importance of thoughtful planning for a smooth transformation.

The discussion then shifts to decision-making during major transitions, where leaders often face difficult choices that may affect stakeholders and team dynamics. Bryan discusses how he prioritized Advantus’s long-term goals and customer satisfaction over immediate internal convenience, reflecting on the strategic factors that led to their adoption of NetSuite. He shares his decision to avoid newer platforms like Acumatica due to their risks, noting that sticking with outdated, on-premises systems would have been more costly in the long term. Peggy adds valuable insights into how businesses can avoid the hidden costs of sticking to legacy systems or attempting self-implementation without expert guidance.

In the final segment, Bryan and Peggy explore best practices for successful platform migration, emphasizing the need for dedicated teams, consistent accountability, and proactive change management. Bryan highlights the advantages of training employees on new technologies, which not only drives adoption but enhances retention. He also delves into Advantus’s approach to acquisitions, categorizing targets by their specific needs and discussing the potential of AI in automating ERP processes. Bryan explains how their internal AI policy ensures responsible and strategic use of technology, underscoring the importance of aligning advancements with business goals for sustainable growth.

Tune in to hear from these great entrepreneurs.

In this Friday Conversation, we’re joined by Jenny Groberg, CEO and Founder of BookSmarts Accounting. Since founding her firm in 2008, Jenny has grown BookSmarts to employ 30 women and serve over 300 clients nationwide. Named Utah's 2024 CEO of the Year by Utah Business and a four-time 2023 Stevie Award winner, she’s known for empowering women and delivering top-notch service. Jenny shares how her scrappy, hustle-driven approach transformed her business into a top 100 Utah company, and discusses the challenges in the accounting industry, the rise of AI, and the benefits of leading a woman-run firm breaking industry norms.

In this conversation, Jenny dives into how BookSmarts is leveraging AI and cloud-based accounting software to streamline operations. By automating data entry and utilizing blockchain technology, her team creates efficiencies that allow for more personalized client interactions and reduced costs. Recently featured in an article on the best accounting software for 2024, Jenny emphasizes the importance of switching to cloud-based systems to integrate workflows, boost profitability, and improve strategic decision-making.

Jenny further explains how business owners need to closely monitor rising product costs to ensure profitability. Whether a company is service-based or product-driven, staying on top of expenses and adjusting prices accordingly is crucial for long-term success. She also shares a significant setback she overcame—initially assigning only one accountant per client. This model proved unstable, so she introduced cross-trained teams to ensure seamless client support regardless of staff availability, providing stability for both employees and clients.

Despite challenges, Jenny's focus remains on growth and job creation. Her goal is to double her workforce, reach eight figures in revenue, and provide more flexible job opportunities for women. Reflecting on her personal journey, including overcoming a traumatic brain injury, Jenny’s resilience has fueled her vision of empowering others, creating lasting impact through her business and charitable work.

Tune in to hear from this great entrepreneur.

In this Friday Conversation, we’re joined by Tyler, founder and CEO of Cozy Earth, a luxury bedding and loungewear brand known for its focus on sustainability and comfort. Tyler takes us through his entrepreneurial journey, beginning with his time at BYU, where he served a mission in Australia and learned Mandarin. He shares how this language skill led him to explore opportunities in overseas manufacturing, eventually launching Cozy Earth. We dive into his passion for creating high-quality products, the lessons learned from building a brand, and how staying true to a vision helped Cozy Earth become a market leader.

Tyler delves into the challenges of funding a consumer-driven business and the critical importance of choosing the right kind of capital. He explains how taking the wrong type of investment can shift your focus away from quality and growth, forcing you to prioritize investor timelines over long-term strategy. Although Cozy Earth initially took friends and family capital, Tyler recapped the business to maintain more control. He reflects on his early days in 2009, when digital ads were non-existent, and how that shaped his approach to scaling a brand. Without venture capital, Tyler had to rely on strong margins and careful planning, navigating cash flow challenges while gradually building a customer base.

Tyler explains how during a visit to a factory in China, he was told that Americans prioritize price over quality, with most opting for cheaper, disposable products. Despite this advice, he believed there was a market for long-lasting, high-quality goods. Drawing parallels to how people invest in iPhones for their value, Tyler saw an opportunity to focus on durable, well-made products that offer real benefits. Cozy Earth’s commitment is to ensure every product is at least 50% better than the competition in terms of comfort, durability, and sustainability, appealing to consumers who seek quality over quantity.