A publicly traded transportation and logistics company (the Company) with over $1 billion in annual revenue collaborated with Cherry Bekaert’s internal audit and risk advisory teams for help meeting increasingly complex compliance requirements. Facing growth through acquisitions, the Company needed a scalable approach to internal audit, risk management and control design.
Preparing for Growth and Acquisitions
The Company was entering a period of significant expansion, with plans to diversify operations through acquisitions and deepen its position within the supply chain ecosystem. To support that growth, the Company needed an internal audit and risk advisory approach that could scale alongside the business without creating an unnecessary administrative burden.
Several factors added complexity, including:
- A high-volume transaction environment spanning multiple business lines and systems
- A technology landscape consisting of numerous Software as a Service (SaaS) and locally hosted applications
- Limited integration between key operational systems
- Significant reliance on spreadsheets and manual data movement between platforms
- The need to integrate acquisitions while maintaining Securities and Exchange Commission (SEC) compliance requirements
- Pressure to keep operations lean in an industry with tight margins and high capital costs
Leadership wanted to avoid adding layers of controls that could slow business operations while still maintaining visibility into critical risks as the company expanded.
A Tailored Solution To Embed Controls and Strengthen Accountability
Cherry Bekaert began by developing a comprehensive understanding of the Company’s operating environment, including its transaction volumes, technology ecosystem, risk profile and acquisition strategy. Our risk advisory consultants assessed how data moved across systems and departments, identifying opportunities to simplify processes and align control activities with business operations.
Evaluating a Complex Technology Environment
The Company operates within a highly complex technology landscape. Because transportation management systems serve as the operational backbone of the business and cannot be replaced by traditional enterprise resource planning (ERP) platforms, significant manual data movement remained necessary across the organization.
Cherry Bekaert focused on designing controls that worked within the realities of the existing environment, helping the organization manage risk while maintaining operational efficiency.
Embedding Controls Without Slowing Operations
As the Company expanded through acquisitions, leadership sought to avoid adding layers of compliance activities that could hinder growth. Our professionals worked closely with stakeholders to understand existing workflows and identify opportunities to streamline control design.
Rather than introducing unnecessary controls, the risk advisory team concentrated on embedding key controls within business processes, allowing the organization to support public company requirements while maintaining a lean operating model.
Strengthening Accountability Across the Organization
One of the most significant improvements involved clarifying ownership of operational processes and related controls. Historically, much of the responsibility for compliance and risk management rested with accounting and finance teams. Cherry Bekaert helped leadership establish greater accountability within operational groups, where the underlying business data originated.
This alignment reduced the burden on back-office teams and created stronger process discipline throughout the organization, contributing to greater efficiency across billing, payroll, accounts payable, and financial reporting activities.
Supporting Growth Beyond Internal Audit
In addition to internal audit services, Cherry Bekaert supported the Company in several strategic initiatives, including acquisition due diligence, purchase accounting, valuation services, ERP implementation support, and CMMC related cybersecurity projects. This broader involvement allowed the Firm to help address challenges associated with growth, integration and operational transformation.
Over a five-year period, the company successfully completed five acquisitions while improving operational efficiency and reducing control complexity.
A Lasting Collaboration
The company continues to leverage Cherry Bekaert's internal audit services, and the relationship has expanded to include valuation services, ERP support, cybersecurity initiatives, and acquisition-related projects.
By aligning risk management with business operations and growth objectives, the company created a scalable framework capable of supporting acquisitions, technology evolution, and continued expansion without increasing operational complexity.
Your Guide Forward
Our professionals work closely across service lines, offering support for a wide range of business needs and eliminating the need for multiple vendors. The services provided for the Company include:
- Internal Audit Outsourcing
- SOX Compliance and Internal Controls
- Operational Risk Advisory
- M&A Due Diligence Support
- Purchase Accounting and Valuation Services
- ERP Implementation Advisory
- Cybersecurity and CMMC Services
Connect with a Cherry Bekaert advisor to learn more about how we can support your organization.
