Jason Kruger with Citrin Cooperman

Scott Mackenzie hosts the Industrial Talk podcast, featuring industry professionals like Jason Kruger from Citrin Cooperman. The conversation covers the importance of podcasting for business, emphasizing its role in building authority, trust, and engagement. Jason discusses his firm's services, focusing on outsourced accounting and CFO advisory, and their unique approach to client support. He highlights the impact of tariffs on manufacturing profitability and the necessity of accurate financial reporting for accessing capital. Jason also touches on the role of AI in enhancing efficiency and decision-making in financial processes. The discussion underscores the value of human connection and strategic financial planning in business success.

Action Items

• [ ] Publish the guest's contact information on the Industrial Talk website and episode page so listeners can reach the guest
• [ ] Provide placement of a guest's podcast on the Industrial Talk platform upon the guest's request (listener must ask to proceed)

Outline

Introduction and Purpose of the Podcast

• Scott welcomes listeners and highlights the importance of celebrating innovators and problem solvers in the industry.
• The podcast aims to tell the stories of industry professionals and discuss topics like access to capital and financial strategies.
• Scott shares his passion for finance and the importance of financial conversations in every organization.

The Value of Podcasting

• Scott expresses frustration with companies that do not see the value in podcasting.
• He shares his personal journey into podcasting, inspired by the widespread popularity of podcasts.
• Podcasting is presented as a way to create human connections, build authority, and improve engagement.
• Speaker 2 emphasizes the tangible financial rewards and SEO benefits of podcasting.

Challenges and Opportunities in Podcasting

• Scott discusses common objections to starting a podcast, such as lack of personnel or time.
• He encourages companies to prioritize creating content and human connections through podcasting.
• The podcasting process is described as relatively inexpensive and straightforward.
• Scott offers to help companies distribute their podcasts on the Industrial Talk platform for greater exposure.

Introduction of Jason Kruger

• Scott introduces Jason Kruger, a partner at Citrin Cooperman, and sets the stage for a discussion on financial topics.
• Jason Kruger joins the conversation, mentioning his location in San Diego, California.
• Scott and Jason share personal anecdotes about San Diego and their experiences there.
• Jason provides a brief overview of his background and his current role at Citrin Cooperman.

Citrin Cooperman's Services and Approach

• Jason explains that Citrin Cooperman is a top 15 national CPA firm, specializing in tax, financial statement audits, and advisory services.
• He highlights his focus on outsourced accounting and CFO advisory services, as well as valuation work and mergers and acquisitions.
• Jason shares his experience at Deloitte and the inspiration behind starting Signature Analytics in 2008.
• The company was acquired by Citrin Cooperman a year ago, and Jason continues to support clients in a partner role.

Differentiating Citrin Cooperman

• Jason discusses how Citrin Cooperman differentiates itself from other CPA firms by focusing on the client's specific needs and pain points.
• The firm does not just provide bodies but offers a tailored approach to address the client's financial environment and infrastructure.
• Jason emphasizes the importance of understanding the client's short-term and long-term goals and providing leadership and support.
• The goal is to make clients feel like Citrin Cooperman is part of their team, even if they are not physically present.

Focus on Mid-Market Clients

• Jason explains that Citrin Cooperman focuses on mid-market clients with revenues between $10 million and $100 million.
• The firm provides more resources and support than local CPA firms while still offering personalized service.
• Jason highlights the significant need for good talent in the mid-market space and the success Citrin Cooperman has had in this area.
• The firm's growth is attributed to the high demand for quality financial services in the mid-market sector.

Navigating Capital Markets

• Jason discusses the challenges and opportunities in the capital markets, particularly in the context of tariffs and their impact on manufacturing.
• He explains how tariffs have created uncertainty and affected the profitability of manufacturing companies.
• The importance of providing credible and confident financial information to capital providers is emphasized.
• Jason advises clients to build long-term relationships with bankers to secure better financing terms in the future.

Strategic Financial Planning

• Jason highlights the importance of having a strategic financial plan and understanding market trends.
• He explains the need for accurate financial reporting and forecasting to make informed decisions.
• The cash flow cycle in manufacturing is critical for understanding capital needs and planning for the future.
• Jason emphasizes the importance of having a reliable financial infrastructure to support strategic planning and decision-making.

Leveraging Technology and AI

• Jason discusses the role of technology and AI in improving efficiency and providing real-time financial insights.
• He mentions the use of generative AI tools like Copilot and the security measures in place to protect client data.
• The firm also leverages AI capabilities built into systems like NetSuite and Sage to enhance reporting and analysis.
• Jason believes that AI will help clients make better decisions and achieve their business goals more effectively.

Future of Financial Services

• Jason predicts that the mid-market will eventually catch up to the larger firms in terms of technology and AI adoption.
• He sees an opportunity for smaller companies to invest in technology to gain a competitive advantage.
• Jason emphasizes the importance of being forward-thinking and leveraging technology to stay ahead of competitors.
• He believes that the small and mid-market companies have an advantage in terms of agility and the ability to pivot quickly.

Contact Information and Final Thoughts

• Jason provides his contact information, encouraging listeners to reach out on LinkedIn or via email.
• He expresses his willingness to help business owners and provide advice on financial and entrepreneurial topics.
• Scott wraps up the conversation, emphasizing the importance of connecting with Jason and leveraging his expertise.
• The podcast concludes with a reminder of the benefits of podcasting and the importance of human connection in business.