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April 27, 2017

On Thursday April 20th the CBIZ MHM, LLC Kansas City Manufacturing Practice co-hosted the 2017 Manufacturing Summit at TopGolf with co-hosts UMB Bank and Spencer Fane. Guests were invited to sit in various presentations surrounding industry hot topics. Bill Smith, Esq., managing director CBIZ National joined Chris Gutierrez, president of KC SmartPort to shed light on President Trump’s upcoming tax reform and the current state of Kansas City development.

Other sessions included Andre’ Trudell, managing director, UMB Bank joined by Special Agent Christopher Lamb, FBI discussing Corporate Security and Accessing Capital Markets. Kansas City Law Firm, Spencer Fane took the stage with partners Patrick McInerey, Pat Whalen and Attorney Jaspal Hare to discuss software development contracts, cyber security and internal and government investigations. After the seminar more than 40 guests were invited to join the speakers for golf and networking featuring a southern buffet and open bar at one of Kansas City’s best entertainment spots, TopGolf. 

For more information about the event or our Manufacturing distribution list please contact Melanie Clark.

 





March 4, 2016

This morning the Kansas City CFO group met for their first quarter event , entitled “How to Finance Your Business: A discussion with Kansas City’s local banks & non-traditional financing resources”, featuring a panel of financial experts including Mike Maddox, CrossFirst Bank, Cory Miller, UMB Bank and Mike Roznowski, Fractal Capital Advisors.

The panel discussion focused on the current state of the lending environment, as well as the financing options available at varying risk levels. The panel fielded a variety of questions including how the new rules and requirements surrounding HVCRE will affect the real estate market, trends in pricing and leverage multiples, personal guarantees, covenants and the new guidelines regarding leverage loans and the impact on credit decisions moving forward. 

A few key notes: 

How should a CFO prepare, to present their company in the best possible light when meeting with a lender?

Mike M: “Be organized, prepared and ready to talk about your company and what’s going on.”

Cory: “Be responsive, as the finance executive, it’s important to be responsive when receiving questions from a lending source. For example, if you are taking too long to respond to emails containing financing questions, it may add unnecessary skepticism to how much of a handle you actually have on your business.”

Mike R: "From an alternative funding perspective, companies seeking this option have often been turned away by the bank(s) for one reason or another – clearly getting those hurdles out front early, so we can work together to move forward, is key."

What should a CFO look for / consider when seeking a financial resource?

Mike M: "Do your due diligence on the source and consider the four C’s. Does your source have character?  Are they committed to the market and industry you are working within? Are they competent in your business, your industry and your growth potential and most importantly, do you connect?"

Mike R: "Adding on to Mike’s comments, the connection and commitment are key – it’s imperative you understand how the lender is going to behave if everything doesn’t go exactly as planned."

Cory: “Use your peers. Your CPA and Attorney have those banking relationships and understand how those resources work. You want to make sure you have a good relationship and connection with whomever you choose, so that you can work through those unexpected bumps in the road.”

Save the date for the second quarter Kansas City CFO Breakfast event on June 2nd, featuring Greg Graves. Look for more information in your inbox in the coming months! 
 




November 5, 2015

Together, with Husch Blackwell and UMB Bank, CBIZ MHM, LLC proudly sponsored a seminar dedicated to the Manufacturing and Distribution industry on October 29th. Held at Boulevard Brewery, the seminar focused on the cybersecurity threats facing the manufacturing and distribution industry. Attendees heard from accounting, financial and legal professionals as they discussed the industry economic forecast, data breach threats to companies in the Kansas City area, vendor security and risk management.

To wrap up the seminar, special guests Chris Lamb, FBI - Cyber Investigations, and John Cowles, Assistant US Attorney – USAO, Western District of MO, focused on the current trends in cyber investigations (locally and nationally) and prevention tips.   

The Manufacturing industry is important to CBIZ MHM and we are very pleased to have had several clients and guests attend the event to learn more about the security challenges facing this industry. Below, we have included the top ten takeaways from the seminar.  As an additional resource, the presentation is available for download here

  1. Understand the global threat – Threats to cybersecurity are increasing both in quantity and severity. From 2012 to 2013, data breaches doubled!
  2. Know the cost – From 2013 to 2014, the average cost of data breaches went up by more than 15%, making the average $3.5 million.
  3. Know your data - Know what data your company has, where it is stored and how it’s secured.
  4. Clean it out - Look for opportunities to eliminate old and unnecessary data.
  5. Use your resources – There are third party professionals who are experts in various aspects of cybersecurity, including the FBI, all of which are resources for you - use them! 
  6. Mitigate your risk - A formal risk assessment should be performed at least annually – whether done internally or by a third party specialist.
  7. Get covered – Companies should consider obtaining insurance to cover cybersecurity incidents and review policies with specialists to make sure they provide adequate coverage.
  8. Educate your employees – 93% of employees knowingly violate cyber security policies. People are the biggest cause of security breaches. Employees need to be trained and updated on cybersecurity issues.
  9. Size DOESN’T matter – In fact, the smaller the business is, the easier it is to hack!
  10. It could happen to you – The odds of a Manufacturing company being targeted for a cyber-attack are 1 in 3. No one is immune to an attack; assume you will be targeted at some point! It is important to be proactive and have a plan in place ahead of time!

Did you miss the seminar, but want to make sure you are added to future invitation lists? Contact aelliott@cbiz.com.




September 16, 2015

Threats to cybersecurity are increasing both in quantity and severity. From 2012 to 2013, data breaches doubled. From 2013 to 2014, the average cost of data breaches went up by more than 15% to $3.5 million.

On October 29th CBIZ and Mayer Hoffman McCann P.C., along with Husch Blackwell and UMB Bank, invite C-Suite executives and Owners to join  us for a free half day seminar focused on the cybersecurity threats facing the manufacturing and distribution industry. Hear from accounting, financial and legal professionals as they discuss the industry economic forecast, data breach threats to your company, vendor security and risk management.

Closing Presenter: John Cowles, Assistant U.S. Attorney, Western District of Missouri
Trends & Tips in Security Fraud

AGENDA
Economic Outlook
Poachers, Hackers & Spies: The Data Breach Gang
Vendor & Security Risk Management

Boulevard Brewery
2501 Southwest Blvd
Kansas City, Missouri

This seminar will be eligible for up to 3 CPE & CLE credits
Check in begins at 1:00PM
Seminar runs from 1:30 PM – 4:30 PM
Appetizers and cocktails immediately following

To register and for more information, click here.




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