Explore the importance of developing a recovery plan so that organizations are prepared in the event of a cyber emergency.

As technology continues to evolve, so does the chance of cyber security attacks and threats. In order to protect your organization, you must draft a disaster recovery plan. This plan will play a major role in the event of any data breach to ensure there is an effective solution to confirming that your data is still secure and how to recover from a cyber attack. While this type of disaster cannot always be avoided, having a plan in place lessens the damage done to your organization. When you download this whitepaper, you’ll learn:

  • Why developing this plan is crucial to protecting your organization
  • The elements that make up a strong disaster recovery plan
  • How to prepare your organization and employees in the event of a cyber attack.

Discover the importance of performing due diligence on outside organizations you partner with in order to protect your business from data and security breaches.

Is your organization protected from and prepared for a data security breach in the event one occurs? While the immediate answer may be “yes”, ensuring that all vendors and subservice partners are also prepared is a crucial step. While doing due diligence on these partners is a typical part of vetting out a new partner initially, many organizations stop there. When you download this whitepaper you’ll learn:

  • Why continuous due diligence on partners is critical to your data security
  • How and why documenting this due diligence is beneficial to your organization
  • How DiSanto, Priest & Co. can assist in exploring these options for you in order to ensure your organization is fully protected

Learn why it’s critical to understand the value of your business and about the four different valuation models for accessing what your business is worth.

Often, the largest asset in a business owner’s portfolio is in fact the business. Yet many business owners don’t know the value of their businesses.

Here’s what you can expect to gain by downloading this white paper:

  • Learn why business owners need to understand the value of their business
  • Understand what internal and external factors are a driving force in understanding value
  • Gain an understanding of the four different business valuation models
  • Explore the different levels of value and how each level impacts your business

Lastly, understand how to identify the right business valuator for you. DiSanto, Priest & Co. is here to guide all of your business valuation needs and answer your specific questions.

Do you have a data security plan for your organization? Understand data security recuirements and how to protect your business.

Start by asking yourself if you have a security plan for your organization. If you do, how can you be sure how strong that plan is? If you don’t, one will need to be created in order to follow the fourth amendment right of consumers which establishes the freedom from “unreasonable search and seizure”. Ensuring your organization has a security plan allows you to protect your data, specifically private data and your business as a whole. In downloading this whitepaper, you’ll explore:

  • What a good security plan contains and the five steps it takes to achieve this
  • Examples of threats to your organization
  • How to develop a plan to understand the characteristics of your organization in order to protect it

By working with DiSanto, Priest & Co., you’ll work with experts that know how to build a strong security plan while evaluating any risks.

Learn what a cost segregation analysis does for commercial property owners and the impact it can have on your business.

Business and property owners are often tasked with reviewing depreciation and cash flow on commercial properties. However, it is crucial to understand what cost segregation means and how it impacts commercial property. While many can perform a cost segregation analysis, the analysis most be both accurate and well-documented.

By downloading this whitepaper, you’ll:

  • Learn different business models and see examples of how DiSanto, Priest & Co. has helped clients achieve quality cost segregation benefits
  • Understand if your business can benefit from performing a quality cost segregation analysis

If you’e looking to perform a high-quality cost segregation analysis, DiSanto, Priest & Co. are experts in identifying the cash benefits when performing this audit.

Financial ratios for construction companies can be a key indicator of current performance and potential for future growth. No one ratio can truly tell the whole story of a company’s health. However, looking at several key ratios can help identify trends in the company and its overall well-being. Primary users of financial statements, including banks, bonding agents, insurance companies, and others, will usually be interested in this information. In addition, company management must ensure they fully understand these ratios before distributing their financials to avoid surprise by any concerns or follow-up questions.

5 Important Financial Ratios for Construction Companies

Here, we’ll explore several common ratios and how they can help you measure business performance and mitigate risk. The following are some key financial ratios for construction companies:

Current Ratio

This ratio compares current assets over current liabilities to determine how many times per year a company can pay its liabilities within the next 12 months. The company should have a ratio of at least 1.0 – 1.3 to ensure sufficient assets for covering liabilities as they become due.

Quick Ratio

This is a close relative of the current ratio, which includes all current assets in the calculation. However, the quick ratio just includes cash, cash equivalents, short term investments, and accounts receivable in the numerator. The denominator remains the same as the current ratio and includes all current liabilities. This ratio considers only assets that are cash or easily convertible to cash. A company is typically considered favorable when its quick ratio is between 1.1 and 1.5. This indicates that it has enough cash to cover its liabilities.

Debt-To-Equity Ratio

This ratio calculates how the growth of the company is financed through debt. In this instance, a person usually considers a ratio of 2.0 or lower favorable. As the ratio grows, it could signal that the company is financing its growth through too much debt and could become unsustainable. 

Working Capital Turnover Ratio

A company uses the capital turnover ratio to identify its asset efficiency in generating sales. The company calculates the ratio by dividing the difference between current assets and current liabilities by its sales. For each dollar of working capital, a higher ratio generates more sales. However, a ratio above 30.0 could signal that the company may need more working capital to continue to grow in the future. 

Equity Turnover Ratio

A company’s equity turnover ratio identifies how efficiently it generates sales using its assets. The company calculates its sales-to-equity ratio by dividing its sales figure by its total equity. Usually, a ratio above 15.0 may signal a company will have trouble growing in the future.

More Information

DiSanto, Priest & Co.’s experienced team of professionals can assist you in calculating, analyzing, and improving your financial ratios with a focus on maintaining your company’s health. For more information, call us at (401) 921-2000 or fill out our contact form.

Learn how to build an SOC report and the important details that play a role in creating it for your unique organization.

You may be aware of the importance of SOC reports, the different types of reports, and how they can benefit your organization, but do you know the critical steps in building a SOC report? This whitepaper will walk you through each section of a SOC report.

  • Section 1: Independent service auditor’s report
  • Section 2: Management’s assertion regarding the effectiveness of its controls
  • Section 3: Management’s description of its system and controls
  • Section 4: Applicable trust services principles’ criteria and control activities
  • Section 5: Other information provided

The DiSanto, Priest & Co. team is expert in all SOC reporting types and can ensure you’re effectively utilizing these reports to benefit your unique business.

Understand how your business operates when working with outside vendors, and why utilizing SOC reports can protect your business.

When you outsource a service in your organization, you are opening up your business to greater risk. This is where the importance of SOC reports comes in. When utilizing SOC reports, you can be certain that the vendors you partner with are not hindering your cyber safety. In reading this whitepaper, you will learn:

  • What SOC reports are used for
  • Benefits of SOC reports for service professionals
  • How these reports can be used when being audited

Understand the variety and value of SOC reports and which one should be utilized for your organization.

Understanding when you need to use the right SOC report can be daunting and like searching for a matching sock in a large laundry pile. If you’re looking to understand how to use these reports to your advantage, look no further. By downloading this whitepaper, you’ll:

  • Get an overview of SOC 1, SOC 2, and SOC 3 reports
  • Learn when and which SOC report(s) you need for your business

SOC 1, SOC 2, and SOC 3 reports are not the same; each serves a different purpose. This whitepaper walks you through the differences and how each can be utilized for your organization.

Taking the time to understand the importance of SOC reports and how they impact your business is a crucial step in protecting your organization from external risks and threats. With three different types of reports, each with two variations, there’s a wealth of knowledge to leverage to ensure your business is protected and prepared.

Download this whitepaper to learn the ins and outs of SOC 1, SOC 2, and SOC 3 reports, all designed to help service organizations identify the security and reliability of their data.