September marks the 70th anniversary of Dulin, Ward & DeWald, Inc. (DWD). Since 1939, DWD has assisted clients in northeast Indiana with their accounting, tax, technology and business consulting needs. Here, company leaders share the core values that have brought DWD continued growth and success.
Outstanding reputation
From its earliest beginnings until now, DWD has maintained an excellent reputation throughout northeast Indiana. In 1939 , when Floyd Sanford, George Myers and James DeWald opened an accounting office in the Lincoln Tower, they were motivated by a single desire: to provide clients with quality accounting work. These founding partners, with their solid financial/accounting backgrounds and their commitment to excellence, soon earned a strong reputation in the business community.
Through the years, that reputation has never wavered. In fact, it has contributed to DWD’s growth and success—particularly under Jim Doty, who served as the managing director from 2002-2009. On July 1, 2009, Jeff Taner assumed the managing director role and plans to keep that momentum going strong. Doty and Taner have worked closely together to ensure a smooth leadership transition and to make certain that this commitment to excellence will continue to drive the company.
This team approach is nothing new to DWD, which upholds a team-oriented focus. “Although we’ve always had a managing director,” says Doty, “we operate a lot more like a democracy.” DWD has seven directors, and major decisions are made at monthly director meetings, not by one or two individuals.
Strong client base
Another factor in DWD’s success is its solid client base. The clients that DWD serves range from family-owned businesses and non-profit organizations to manufacturing, retail, real estate, medical practices and construction. With each, DWD meets its specific needs and tailors its services to that particular situation.
Strong client relationships have played a key role in DWD’s growth, not just in the Fort Wayne region, but in Marion as well. Doty credits Mike O’Brien, director of the Marion office, with that office’s success. “We had a solid client base in Marion when we acquired the office in 1981, and many of the initial clients have evolved over the years,” says Doty. “Thanks to Mike’s personal contacts and community involvement,” says Doty, “our services have expanded and grown with the community.”
With a team of 45 employees in two locations, DWD is able to develop and maintain those strong relationships with clients. Many of the DWD accountants joined the firm soon after completing college and have continued to work with the same clients over the years. This applies to the directors, too. “At DWD,” says Taner, “directors don’t just supervise. We develop close relationships with our clients, and business owners feel more secure knowing that a director is working directly on their account.”
Staff development
DWD not only maintains strong and lasting relationships with its clients; it builds the same kind of relationships with its employees as well. “We don’t have the high turnover rate that some accounting firms have,” says Taner. He attributes staff loyalty to a number of factors, including opportunities for advancement and mutual respect. “We recognize that our people are our greatest asset,” says Taner, “so we treat everyone the way we would want to be treated.”
The work-life balance that is intrinsic to the DWD culture is a contributing factor to staff continuity. “Many accounting firms work seven days a week during tax season. At DWD, we strongly encourage our employees not to work Sundays during our busiest time of year,” says Doty. This balanced focus that has characterized the firm under Doty’s leadership has helped DWD maintain a high retention rate in a demanding field plagued by turnover. ”Jim has always stressed the importance of a balance between work and home,” says Taner.
Specialized services
Another way that Doty has strengthened DWD is by blending different talents to help the firm grow. At DWD, accountants are encouraged to specialize in niche industries. In fact, giving staff the opportunities to specialize was a key factor in the development of DWD’s computer division. “DWD Technology Group has evolved from programmers who wrote accounting software into technology consultants who assist clients with hardware, software and network installation, as well as training and support,” says Taner. Of these consultants, many are also CPAs who developed an interest in the technology side of the business over time.
DWD Technology Group isn’t the only example of client services that have expanded beyond traditional accounting. In addition to preparing and analyzing financial statements and tax returns, DWD helps clients concentrate their attention on profit-focused decisions. DWD accomplishes this goal by reviewing financial information throughout the year, making it easier for clients to make key decisions quickly.
Trusted advice
Answering questions like “How does this opportunity for a capital investment affect my bottom line?” and “Do I have the cash flow for this acquisition?” has turned DWD into more than just an accounting firm. DWD also provides business consulting and strategic planning services.
“CPAs are a business owner’s most-trusted advisor,” says Doty. Many businesses rely even more on this kind of advice in troubled economic times. “We can help businesses stay strong by offering solutions that will reduce costs which can lead to increased overall profitability,” says Taner.
Sustained growth
In the early years, DWD grew based on reputation alone, but in 1993, under Mike DeWald’s leadership, the firm began focusing efforts on strategic planning and business development. “This focus on growth was new for DWD and pushed us to think of ourselves as business people as well as accountants,” says Taner.
Taner plans to continue strategic planning and anticipates continued growth in years to come. He has a good start, too. DWD created a marketing position in 1995 to help reach its business development goals. Since then, the firm has experienced an average growth of 9% per year. “We’ve been able to weather economic storms by focusing on sustainable and steady growth,” Taner says. “DWD has played a strong role in northeast Indiana business for 70 years, and we plan on serving this community for many years to come.”
(Appeared in August 2009 Business People Magazine, written by Mary Jane Bogle, Photography by Steve Vorderman)
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