CBIZ Inc (CBZ)

History and Background

CBIZ, Inc. was founded in 1996 as Century Business Services, Inc. It grew through acquisitions of accounting firms and related service providers. Over time, it expanded its service offerings and geographic reach.

Core Business Areas

• Financial Services: Provides accounting, tax, and advisory services to businesses of all sizes.
• Employee Services: Offers employee benefits, payroll, and human capital management services.

Leadership and Structure

The leadership team consists of the CEO, CFO, and other key executives. The organizational structure is a mix of centralized functions and decentralized business units.

Key Offerings

• Accounting and Tax Services: Provides tax preparation, financial reporting, and general accounting services. Competitors include H&R Block, Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. CBIZ market share is estimated in the low single digits nationally. No firm data available.
• Employee Benefits Consulting: Offers consulting services related to employee benefits programs, including health insurance and retirement plans. Competitors include Mercer, Aon, and Willis Towers Watson. CBIZ market share is estimated in the low single digits nationally. No firm data available.
• Payroll Services: Offers payroll processing and related HR services. Competitors include ADP and Paychex. CBIZ market share is estimated in the low single digits nationally. No firm data available.

Industry Overview

The accounting and business services industry is highly competitive and fragmented, with many small and mid-sized firms, as well as a few large national players. The industry is driven by regulatory changes, economic growth, and the increasing complexity of business operations.

Positioning

CBIZ is positioned as a mid-market provider of accounting, tax, and business services. It offers a comprehensive suite of services and has a strong reputation for client service.

Total Addressable Market (TAM)

The TAM for accounting, tax, and business services is estimated to be in the hundreds of billions of dollars annually. CBIZ is positioned to capture a small, yet significant, portion of this market.

Key Competitors

• ADP
• PAYX
• WTW
• BRO

Competitive Landscape

CBIZ competes with both large national firms and smaller regional players. Its competitive advantages include its diversified service offerings, strong client relationships, and experienced management team. Its disadvantages include its smaller size and less brand recognition compared to larger competitors.

Marks Paneth LLP

• Year: 2022
• Acquisition Price (USD millions): 0
• Strategic Rationale: Expanded CBIZ's presence in the New York metropolitan area and added expertise in various industries. Terms not disclosed.

Historical Growth: CBIZ has grown historically through acquisitions and organic growth.

Future Projections: Analyst estimates are not readily available in the desired format, but CBIZ is expected to continue growing through acquisitions and organic growth.

Recent Initiatives: Recent initiatives include acquisitions of complementary businesses and investments in technology.

CBIZ Inc. is a mid-market player in the accounting, tax, and business services industry, growing through acquisitions and organic initiatives. It boasts diversified services and client relationships but faces strong competition from larger, more established firms. The company's acquisition strategy brings integration risks, and its success depends on adapting to regulatory changes and economic cycles. CBIZ needs to carefully manage these factors to maintain its growth trajectory.

Data Sources:

• Company Website
• SEC Filings
• Industry Reports
• Analyst Estimates

Disclaimers:

This analysis is based on publicly available information and should not be considered financial advice. Market share data is approximate and may vary depending on the source.