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Conference call: Edward Fitzemeyer President of Fitzemeyer & Tocci (#2 Best Firm Multidiscipline), a 50-person engineering consulting firm based in Wolburn, Massachusetts.
By LIISA ANDREASSEN Correspondent “T he expectation is growth through 2018 fol- lowed by a mild recession in 2019,” Fitze- meyer says. “We have three shareholders with a robust leadership pipeline that is intended to increase the number of shareholders to diversify and solidify our ownership position.” A CONVERSATION WITH EDWARD FITZEMEYER. The Zweig Letter. What’s your philosophy on fee/ billing and accounts receivable? How do you col- lect fees from a difficult client?
is fixed fee which allows us to manage the project to meet the client’s expectations. We are a sub- consultant on about 50 percent of our work and on many of those projects we are assigned by the owner. We have a proactive collections pro- cedure that monitors AR in advance of the next major milestone. We provide enough ad- vanced warning, so we don’t typically get much pushback if we must withhold service or deliver- ables. TZL: What’s the recipe for creating an effective board? EF: We’re in the process of revamping our board to improve our corporate governance. We have an in- ternal board made up of only shareholders which doesn’t help with our vision of the outside world. We are looking to include one to two outside board members or advisors. The outside members would be elected every two years based on the current strategic needs.
Edward Fitzemeyer, President, Fitzemeyer & Tocci
Edward Fitzemeyer: Our preferred contract type
THE ZWEIG LETTER Ap
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