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In the final episode of the Working Capital Optimization series, hosts Mike Piotrowski and Corey York explain how cash management acts as a strategic lens for CFOs. They explain how the cash conversion cycle (triple C) reveals where cash is trapped in a business and can help unlock significant liquidity without raising equity, taking on debt or cutting headcount. Through practical examples, benchmarking and a five-step framework, the episode guides listeners on diagnosing cash flow bottlenecks and implementing cross-functional improvements for lasting financial agility Listen to learn more about: What the cash conversion cycle is and why it matters How triple C reveals where cash is trapped across receivables, inventory, and payables Benchmarking triple C performanceTrade-offs and mitigation strategies for improving accounts receivable (AR), inventory and payables How to operationalize triple C across the organization for competitive advantage  Related Insights Article: Working Capital Strategies: 7 Steps To Improve Cash Flow in Manufacturing BusinessesPodcast: Industrial Manufacturing and Consumer Goods Podcast: Working Capital Optimization Explained

In this episode of the Industrial Manufacturing and Consumer Goods podcast, host Corey York, along with finance transformation specialist Mike Piotrowski, explores accounts payable (AP) optimization, a critical yet often overlooked driver of working capital and business health.  They discuss why AP is more than just paying bills, as well as the risks of inefficient processes and practical strategies to transform AP from a cost center into a strategic advantage. Listeners will gain actionable insights to improve cash flow, strengthen supplier relationships and leverage technology for smarter operations. This is the fourth episode in a five-part series on optimizing working capital. Stay tuned for more actionable insights! Listen to learn more about: The role of accounts payable in working capitalCommon red flags in AP processesFour key areas for AP optimizationHow to balance strategic AP practices with maintaining strong supplier relationshipsIndustry benchmarks and how they guide achievable AP performance targetsPOCs Mike Piotrowski, Senior Manager, CFO Advisory Corey York, Senior Manager, CFO Advisory Related Insights: Article: Working Capital Strategies: 7 Steps To Improve Cash Flow in Manufacturing BusinessesPodcast: Industrial Manufacturing and Consumer Goods Podcast: Working Capital Optimization Explained

In this episode of the Industrial Manufacturing and Consumer Goods Podcast, Mike Piotrowski and Corey York explore accounts receivable (AR) optimization, a critical component for improving cash flow and overall business health. Together they discuss why AR is more than just collecting payments, how to identify red flags and practical strategies to unlock trapped cash without damaging customer relationships. This is the third episode in a five-part series on optimizing working capital. Stay tuned for more actionable insights! Listen to learn more about: The role of accounts receivable in working capital Key indicators of AR issuesFour major levers for AR optimization How AR optimization impacts customer relationships and why collaboration mattersBenchmarks and data sources for measuring AR performanceStrategic benefits of AR POCs Mike Piotrowski, Senior Manager, CFO Advisory Corey York, Senior Manager, CFO Advisory Related Insights: Article: Working Capital Strategies: 7 Steps To Improve Cash Flow— in Manufacturing BusinessesPodcast: Industrial Manufacturing and Consumer Goods Podcast: Working Capital Optimization Explained

In this episode of the Industrial Manufacturing and Consumer Goods Podcast, Mike Piotrowski and Corey York dive deep into inventory optimization — one of the most powerful, yet often overlooked, levers in working capital management. They explore why inventory sits at the intersection of finance, operations and customer service, and how optimizing it can free up cash, reduce costs and improve customer satisfaction. This episode also covers warning signs of poor inventory management, practical steps for improvement and real-world examples of successful inventory optimization. This is the second episode in a five-part series on optimizing working capital. Stay tuned for more actionable insights! Listen to learn more about: The critical role of inventory in working capital optimizationWarning signs of inventory management problemsFour key components for inventory improvement: Demand forecasting, stock keeping unit (SKU) rationalization, reorder points/safety stock and purchasing alignmentCommon challenges across industries and how to address themPractical steps to start optimizing inventory todayThe future of inventory management, including technology, data and process improvementsPOCs Mike Piotrowski, Senior Manager, CFO Advisory Corey York, Senior Manager, CFO Advisory Related Insights: Article: Working Capital Strategies: 7 Steps To Improve Cash Flow in Manufacturing BusinessesPodcast: Industrial Manufacturing and Consumer Goods Podcast: Working Capital Optimization Explained

In this episode of the Industrial Manufacturing and Consumer Goods Podcast, Michael Piotrowski and Corey York dive into the fundamentals of working capital optimization and its critical role in business health and agility.  They discuss how optimizing working capital enables companies to meet obligations and seize growth opportunities. This episode also covers an overview of the essential components of working capital — inventory, accounts receivable and accounts payable — and introduces key metrics like the current ratio, quick ratio and cash conversion cycle.  This is the first episode in a five-part series on working capital optimization. Stay tuned to learn more. Listen to learn more about: The definition of working capitalThe components of working capitalKey metrics for working capitalWarning signs of poor working capital managementThe benefits of working capital optimizationSeries POCs Michael Piotrowski, Senior Manager, CFO Advisory Corey York, Senior Manager, CFO Advisory Related Insights: Article | Working Capital Strategies: 7 Steps To Improve Cash Flow in Manufacturing Businesses

The Internal Revenue Service (IRS) released Notice 2023-38, which provides more details around domestic content requirements for taxpayers who qualify for bonus energy credit incentives. The additional tax credits are associated with investments in and the production of clean energy under Sections 45, 45Y, 48 and 48E. Dependent on the facilities and equipment used to make clean energy, the domestic content rules are fulfilled when a taxpayer verifies that a qualified facility meets two specific requirements.  On this episode of the Industrial Manufacturing Podcast, Jason Hodell, Industrial Manufacturing Leader, and Ron Wainwright, Energy Tax Credits & Incentives Leader, discuss key Inflation Reduction Act of 2022 (IRA) provisions that will help clients maximize their tax credits. This conversation includes: Energy tax credits under the IRAIRA’s new credits and bonus credits Increase in tax credit amounts for domestic contentWhatto look for in an energy credit providerNew requirements to qualify for bonus energy credit incentivesRelated Guidance Take Advantage of New Section 45L Tax Credit Opportunities Under IRAForm 7205: What A&E Firms Need To Know To Claim the Section 179D Tax DeductionEnergy Savings Revolution – Section 179D for Commercial BuildingsNotice 2022-61: Initial Guidance on Prevailing Wage and Apprenticeship Requirements for IRA Clean Energy Tax Credits

The conversation continues with Matt Brady, Cherry Bekaert’s Industrial Industry Leader, and Ron Wainwright, Strategic Tax Partner in our Tax Credits and Incentives Advisory group, as they unpack how to capitalize on industrial energy credits. Tune in for the fifth installment of Cherry Bekaert’s Deeper Dive Into New Ways to Monetize Energy Credits for the Industrial Industry regarding industry credit updates and best practices In this podcast episode, our knowledgeable team takes a closer look at the American Manufacturing Credit and Manufacturing Production Credit within the CHIPS Act. Listen in to learn more about:  CHIPS Act and IRA backgroundImplications to Manufacturers – Investment Tax Credit (48C) and Production Tax Credit (45X) New Direct Pay Option and Eligible CreditsTransferable CreditsDirect Pay and Transferable Credits Related Guidance CHIPS Act Deep Dive Part 1: New Federal Funding for the Industrial Manufacturing Industry CHIPS Act Deep Dive Part 2: Advanced Manufacturing Investment Tax CreditCHIPS Act Deep Dive Part 3: American Manufacturing Credit and Manufacturing Production CreditCHIPS Act Deep Dive Part 4: Unpacking the Complexities of the Many Tax Credits Under the CHIPS Act and the IRA of 2022

As we wrap up the CHIPS Act Series, we briefly cover the Inflation Reduction Act of 2022 (IRA) and credits associated with CHIPS and IRA and their many impacts on the manufacturing industry. The focus of the discussion centers on a high-level view of the New Advanced Manufacturing Credit, Section 45X – the Advanced Manufacturing Production Credit, which take effect in 2023 and will provide a tax credit for eligible components.  Listen in as Matt Brady, our Industrial Manufacturing Industry Leader, and Ron Wainwright, a Partner in our Tax Credits and Incentives Advisory practice, unpack the fourth and final installment of Cherry Bekaert’s Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act podcast series.  Wainwright also covers the advanced energy project credit, which falls under Section 48C, an investment credit with a base credit of 6%, with a potential increase up to 30% if the qualifying wage requirements are met.  Given the intricacies of the legislation and tax credits and provisions, our industry advisors plan to expand the series to address how industrial manufacturers can find new ways to monetize energy credits, dive into the 45Q credit around carbon oxide sequestrated and examine the “Technology Neutral” credits that may impact the industry. See our previous podcasts in this series that you may have missed: CHIPS Act Deep Dive Part 1: New Federal Funding for the Industrial Manufacturing Industry CHIPS Act Deep Dive Part 2: Advanced Manufacturing Investment Tax CreditCHIPS Act Deep Dive Part 3: American Manufacturing Credit and Manufacturing Production Credit

Part III: Digital Solutions for Recession Preparedness  While manufacturers continue to battle inflation, increased interest rates, workforce shortages and supply chain challenges, it is becoming increasingly evident that leaders must also review their strategic and financial plans to ensure they are prepared for this recession risk. Join Joe Haehner, Industrial Manufacturing Partner, in this podcast series as he explores a variety of strategies manufactures can implement now to proactively rein in costs while simultaneously reinvesting in growth.  In Part III of this series, Jim Holman, Director of Digital Advisory Services, provides insight into key process optimizations manufacturers can utilize to reduce operating costs, lower margins and subsequently increase revenue. In addition, he reviews best practices for partnering with vendors and suppliers, and he analyzes inventory sampling strategies to maximize labor utilization.  We invite you to tune in to all podcasts in this series:  Part I: Industry Economic Outlook – Chad Moutray, Chief Economist | National Association of Manufacturers Part II: Identify and Implement Technology and Business Process Improvements – Steve Holliday, Director, Digital Advisory Services | Cherry Bekaert

Part II: Identify and Implement Technology and Business Process Improvements While manufacturers continue to battle inflation, increased interest rates, workforce shortages and supply chain challenges, it is becoming increasingly evident that leaders must also review their strategic and financial plans to ensure they are prepared for this recession risk. Join Joe Haehner, Industrial Manufacturing Partner, in this podcast series as he explores a variety of strategies manufactures can implement now to proactively rein in costs while simultaneously reinvesting in growth.  In Part II of this series, Steve Holliday, Director of Digital Advisory Services, provides insight into analyses manufacturers can utilize to understand the changing economic conditions and details helpful tools to both track areas of concern and trigger action. In addition, he will review best practices to prioritize cost opportunities and focus to the removal of costs We invite you to tune in to all podcasts in this series:  Part I: Industry Economic Outlook – Chad Moutray, Chief Economist | National Association of Manufacturers Part III: Digital Solutions for Recession Preparedness – Jim Holman, Director, Digital Advisory Services | Cherry Bekaert 

Join Matt Brady, our Industrial Industry Leader, and Ron Wainwright, a Strategic Tax Partner in our Tax Credits and Incentives Advisory group, for the third installment of Cherry Bekaert’s Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act podcast series.  In this podcast, our knowledgeable team take a closer look at the American Manufacturing Credit and Manufacturing Production Credit within the CHIPS Act. The podcast covers the following areas: Background on the CHIPS ActWhat funding is in the CHIPS Act?CHIPS for America Fund Department of Commerce Programs/Funding and Other ProgramsWhat does this mean for the U.S. with semiconductor manufacturing?Department of Commerce Programs/Funding and Other ProgramsStay tuned for Cherry Bekaert’s next CHIPS Act podcast that dives deeper into the American Manufacturing Credit and Manufacturing Production Credit. See our previous podcasts in this series that you may have missed: CHIPS Act Deep Dive Part 1: New Federal Funding for the Industrial Manufacturing Industry CHIPS Act Deep Dive Part 2: Advanced Manufacturing Investment Tax Credit

Matt Brady, our Industrial Industry Leader, and Ron Wainwright, a Strategic Tax Partner in our Tax Credits and Incentives Advisory group, are continuing their conversation on the benefits of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act for the industrial industry. This podcast will be highlighting the various funding programs that are now established and available for manufacturers producing semiconductors to take advantage of and how they are able to do so. The podcast covers the following topics: Background on the CHIPS ActNew Advanced Manufacturing Investment Tax Credit (AMITC)AMITC Eligibility and RequirementsAMITC and Qualified Property How to Incentivize Semiconductor Production in the U.S.Stay tuned for Cherry Bekaert’s next CHIPS Act podcasts that will dive deeper into CHIPS funding and Manufacturing Production Credit and the Advanced Manufacturing Credit. See our previous podcasts in this series that you may have missed: CHIPS Act Deep Dive Part 1: New Federal Funding for the Industrial Manufacturing Industry 

The Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act was recently signed into law as part of the CHIPS and Science Act of 2022. The bill provides manufactures greater incentives to produce semiconductors (e.g., chips) domestically in the U.S.  Join Matt Brady, our Industrial Industry Leader, and Ron Wainwright, a Strategic Tax Partner in our Tax Credits and Incentives Advisory group, as they explore the benefits the industrial industry is able to take advantage of through this new legislation. The podcast covers: Background on the CHIPS ActImportance of Semiconductors in the Industrial IndustryWhat is the CHIPS Act and Tax PolicyOverview of the New Advanced Manufacturing CreditStay tuned for Cherry Bekaert’s future podcasts that dive deeper into the Advanced Manufacturing Credit, funding in the CHIPS Act, and the American Manufacturing Credit and Manufacturing Product Credit.

Part I: Industry Economic Outlook  Over half of manufacturing leaders say inflationary pressures are making a recession more likely within the next year, according to a survey released in June by the National Association of Manufacturers. According to the survey report, “while a recession is not inevitable—and we continue to forecast growth for 2022 and 2023—the risk of a downturn has increased significantly.” While manufacturers continue to battle inflation, increased interest rates, workforce shortages and supply chain challenges, it is becoming increasingly evident that leaders must also review their strategic and financial plans to ensure they are prepared for this recession risk.  Join Joe Haehner, Industrial Manufacturing Partner, in this podcast series as he explores a variety of strategies manufactures can implement now to proactively rein in costs while simultaneously reinvesting in growth.  Chad Moutray, Chief Economist for the National Association of Manufacturers, joins us for Part I to provide insight into the current economic landscape, discuss employment growth and wages, outline the biggest challenges for manufacturers and offer an outlook on inflation.  We invite you to tune in to our upcoming podcasts in this series:  Part II: Identify and Implement Technology and Business Process Improvements – Steve Holliday, Director, Digital Advisory Services | Cherry Bekaert Part III: Digital Solutions for Recession Preparedness –  Jim Holman, Director, Digital Advisory Services | Cherry Bekaert  Sources:  NAM Manufacturers’ Outlook Survey, Second Quarter 2022

Numerous middle-market organizations need a Chief Information Officer (CIO), but they don’t know where to start. Some companies have started seeking out fractional, or interim CIOs to assist their organizations in times of need. Fractional CIOs can help organizations with business processes, systems, infrastructure, and more. In our most recent podcast, Steve Holliday, Director at Cherry Bekaert, discusses why CIO services are important for an organization and how to get successfully started. Listen in to find out about: Why it’s important to be proactive when it comes to investing in technologyWhen it makes sense to bring on a fractional CIOSteps that Cherry Bekaert takes to support a client on their journeyCherry Bekaert offers fractional CIOs who are seasoned IT executives and can be contracted full time or any variable of monthly hours depending upon your unique needs.