Meeting the Challenges of Success
Barnes Dennig Furnishes Innovation to Like-Minded Manufacturer
Successful CPA Jon Randman was ready to change direction — in more ways than one. He’d made the decision to leave Chicago and return to his hometown of Cincinnati. And, seeking a career change, he’d also bought a company. Easy Way Products Co. was the last of a dozen turnaround companies being offered by a local bank. For Randman, it represented a chance to make a difference in a whole new way.
Easy Way, originally a family-owned business, manufactures outdoor cushions, umbrellas, and furniture covers. Its competitive advantage lies in its use of just-in-time (JIT) manufacturing and effective inventory management. “The ability to develop new products and get them to market quickly is one of our strong suits. We can have a custom-ordered product to a customer in 10 days,” said Randman.
The challenge
The JIT model created growth for the company. Easy Way was able to expand its product line to include outdoor drapes and even some indoor textiles. Randman hoped that these new offerings would, in turn, create even more growth. Additional growth would be great, but it would mean more complexity to manage.
Easy Way had also been researching innovative ways to make its cushions more durable and weather-resistant, which added to the growing number of prototypes and samples it was already producing for existing customers.
The innovative CPAs at Barnes Dennig are experienced in the realms of business, taxes, manufacturing, and wholesale/distribution. They stepped in to address the issues Easy Way was facing.
The strategy
The Barnes Dennig team noticed how detailed the company’s prototypes were, and suggested conducting a study to see if they’d qualify for the Research & Experimentation (R&E) tax credit. Randman quickly got on board.
First, they had to quantify the R&E expense. The Barnes Dennig team worked closely with Easy Way’s Director of Accounting & Finance to outline the process of investigating and researching the information. Once they had the list, they also set up meetings with Easy Way’s product development group to learn more about the R&E aspects of their jobs.
According to Easy Way’s Accounting & Finance Director, “It was a big, intense project, but the Barnes Dennig team helped guide the process and communicated the details throughout. They kept us from getting lost in the weeds.”
The results
Since Randman took over, Easy Way has proven to be a top performer in its niche. Throughout his company’s growth and evolution, Randman says, Barnes Dennig has been a helpful business advisor. He adds, “We value the feedback we receive from Barnes Dennig because it helps us manage our business better.”
Easy Way’s corporate culture plays a huge role in its success. It’s built upon strong customer partnerships and several core philosophies. One is Randman’s belief that “everything is possible.” Another, is a focus on continuous improvement: the belief that, if you’re not striving to move forward, you’re actually moving backward.
As a result, Easy Way is nimble, responsive, and flexible. And it seeks these same qualities in its service providers. That’s why Easy Way chose Barnes Dennig, whose own corporate philosophy extends beyond the numbers. It’s why their relationship has been so profitable over the years.
And it’s why, no matter what Easy Way’s future goals may be, Barnes Dennig can help the company reach them.
About Barnes Dennig
Barnes Dennig is a Certified Public Accounting and consulting firm serving businesses and organizations in Ohio, Indiana, and Kentucky. We offer tax, accounting, auditing, business consulting, and business advisory services to help our clients make the most of every financial opportunity.
Learn more about Barnes Dennig and the industries we serve.
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About Easy Way Products
Easy Way Products strives to be the premier provider of high-performance lifestyle furnishings. In fact, for over 50 years, indoor and outdoor furniture retailers have relied on Easy Way for innovative product design, superior quality and a responsive manufacturing supply chain.
The company manufactures a wide variety of high-quality custom indoor and outdoor furniture textile products, each with distinct customization options. Whether a business requires customized products for specific furniture lines, private-label manufacturing for its global brand, or a standard-sized replacement cushion, our experienced designers will work alongside its design team to find the ideal solution.