BV News and Trends October 2023
A monthly roundup of key developments of interest to business valuation experts.
Valuers Suggest Enhancements to AI-Powered PDF-to-Excel Tool
BVR recently partnered with Nambri Technologies to offer Nambri TaxXL, an advanced AI enterprise SaaS software application designed to convert PDF tax returns into Excel spreadsheets. During a recent demonstration webinar, valuation practitioners suggested some enhancements, which triggered some planned updates to allow for the application to handle additional tax forms.
10 Short Takes From NACVA’s July Super Conference
There were top speakers, interesting sessions, and a good turnout (about 200) for the three-day NACVA Business Valuation & Financial Litigation Super Conference in person in Snowbird, Utah (and also online). Here are a few quick takeaways from some of the sessions we attended.
Next-Gen BV Practitioners Reveal Ways to Keep Them on Board
Opportunities for career growth, exposure, work-life balance, and good old-fashioned recognition are some of the ways to keep today’s young valuation practitioners from jumping ship. The profession faces the issue of attracting and retaining young talent, so their insights are particularly helpful.
BV News and Trends September 2023
A monthly roundup of key developments of interest to business valuation experts.
Global BV News: CBV Institute opens registration for Student BV Challenge
The CBV Institute has opened registration for its Business Valuation Challenge, a national case competition for undergraduate students from top business schools across Canada.
New book of essays by prominent valuation experts
Top experts from overlapping valuation disciplines tell their stories that capture a flavor of the romance, intrigue, art—and heart—of business appraisal in a new book, The Art of Valuation.
ISBA appraisal review workshop November 9-10
The International Society of Business Appraisers (ISBA) is offering a two-day workshop for its Business Certified Appraiser in Review (BCA-R) credential.
Reminder: Sample IRS forms for PDF extraction testing
Nambri TaxXL is a new application that automates the conversion of PDF tax returns into an Excel spreadsheet.
Wanted: Sample IRS forms for PDF extraction testing
Nambri TaxXL is a new application that automates the conversion of PDF tax returns into an Excel spreadsheet.
BV Firm Billing Rates Shot Up in 2022
The vast majority (83%) of business valuation firms increased their billing rates in 2022, according to preliminary results of BVR’s benchmarking survey. This is a much greater percentage than the last survey (2018) found, when 60% of respondents said they raised rates. Increases ranged from 3% to 25%, with an average of 11%.
ASA Looks ‘Beyond’ Valuation to How to Build an Appraisal Career
A first-of-its-kind event in the valuation profession was the 2023 Beyond Valuation—Professional Development and Growth Conference hosted by the American Society of Appraisers (ASA) and sponsored by Empire Valuation Consultants. It focused on appraisal career development for those professionals who are just beyond the initial stages of their careers.
Specialization Is the Key to Appraisal Career Success
A recurring theme throughout the 2023 Beyond Valuation—Professional Development and Growth Conference was the advice to specialize. Here is a basic plan to follow to achieve specialization.
BV News and Trends August 2023
A monthly roundup of key developments of interest to business valuation experts.
Don’t get stung by a bad review of your valuation report
Shawn Hyde (Canyon Valuation) has been reviewing the reports of other valuation experts for years.
BV practice marketing budgets hold steady for 2023
Since most business valuation firms and practices are very busy, it’s not a great surprise that marketing budgets for 2023 are about the same as 2022 levels, according to the 2023 BVR Benchmarking Survey.
NACVA ‘blown away’ by ChatGPT
David Fein of ValuSource recently gave a demo of ChatGPT to Parnell Black, CEO of the National Association of Certified Valuators and Analysts (NACVA).
Congrats to the winner of a free BVR Pro subscription
Rob Leibfried, a shareholder in the business valuation practice at Honkamp, will receive a free one-year subscription to BVResearch Pro, BVR’s most comprehensive library of business valuation resources.
BV firms rank most effective marketing techniques
The one-on-one meeting with a prospect leads the pack of marketing techniques BV firms and practices find most effective.
Most BV firms don’t ask for client feedback
When he was mayor of New York City, Ed Koch would roam the streets asking passersby “How’m I doin’?”
Age-old idea still works for retaining good BV talent
What keeps you from jumping ship?
Early results from BVR’s Benchmarking Survey
Almost 200 business valuation firms and practices responded to the BVR Benchmarking Survey, which closed last week.
Valuers Are Now Spending More Time ‘on Everything’
A panel discussion during the Global Town Hall: State of the Global Markets and Their Effect on Business Valuation event talked about having to dig more into income statement line items, perform more sensitivity analyses, request multiple forecasts, change Excel models, and more.
A Good Example of a Powerful Visual for a Valuation Report
At the recent New York State Society of CPAs’ Business Valuation and Litigation Services Conference, Chris Mercer (Mercer Capital) gave a good example of an effective visual designed to convey a complex issue to a client or trier of fact.
Fair Value, Statutory Appraisals, Crypto, ESG, PE Deals, and More at the NYSSCPA BV Conference
As usual, the annual New York State Society of CPAs’ Business Valuation and Litigation Services Conference presented some very interesting and useful information. This article provides a recap of what was discussed.