Corporate Finance and Administration (F&A) provides Phillips with core financial services along with treasury, corporate benefits, information technology, subscription services, and office and facilities management.
Financial Accounting Services
Three Accounting teams (Phillips Health, Phillips Investment Resources and Corporate) are charged with gathering and reporting timely business information, meeting Phillips’ obligations to its vendors and employees, mailing customer invoices and collecting payments, and identifying cost reduction opportunities. Accounting ensures the effectiveness and efficiency of Phillips’ internal controls and the development of and compliance with accounting policies and the safeguarding of company assets. This group also coordinates activities that result in the development of our annual financial plans and budgets. It manages the budget process for the company, develops projections and consolidates operating company forecasts.
The Tax Department provides compliance services for income, franchise, personal property and sales/use taxes for all Phillips operations. The tax planning process includes researching alternative approaches to complying with taxes that optimize Phillips’ tax position and financial effectiveness.
The Treasury Department is responsible for securing the financing to support Phillips’ continued growth. In addition, the group handles corporate cash management, risk management, acquisition analysis and due diligence. Also, as part of the Treasury team, the payroll department pays, records, monitors and reports on wages and benefits paid to more than 400 employees.
The Corporate Benefits Department plans, implements and oversees employee benefit programs to make employment at Phillips both rewarding and fulfilling. Over the years, the department has put together a comprehensive benefits program to meet employees’ needs. Along with United Healthcare, the Corporate Benefits team helps to maintain the health of employees, while minimizing health care costs. Corporate Benefits also manages the matching 401(k) savings plan, administered by Schwab Retirement Plan Services, which allows employees to accumulate savings on a tax-deferred basis. Other important benefits include life and disability insurance coverage; educational assistance; pre-paid legal benefits; and a pretax benefits plan, which enables employees to pay for non-covered medical and dependent care expenses with pretax dollars.
The Information Technology Group (ITG) is responsible for developing long-term data, voice and network infrastructures. In addition, ITG creates long-term strategies to increase Phillips’ processing capacities to meet the demands of new business opportunities and new technologies. The ITG staff maintains the uninterrupted use of word processing, desktop publishing and database operations. ITG also manages the company’s Internet and electronic mail system.
Subscription Services focuses on providing fast, accurate and cost-effective mail and fax order processing for the entire company. The group also handles all subscription-related returns such as customer correspondence, address changes and undeliverable mailings.
The Facility Services team maintains the physical office space for Phillips’ headquarters. The F/S staff is responsible for routing mail and packages internally and externally, providing on-site security, managing Phillips’ reception areas, purchasing furniture, handling event set-ups and helping to organize office moves.
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Phillips Health, LLC is the recognized leader in providing authoritative health solutions to the consumer marketplace. Phillips’ team of prominent health experts offers safe, natural and effective ways to solve and prevent health problems. Phillips Health, LLC produces newsletters and online resources, and encompasses Doctors’ Preferred, Inc. (DPI), a thriving vitamin and nutritional supplement business.
Founded in 1993, DPI’s mission is to help customers improve their lives through the use of nutritional supplements. DPI offers several brands of vitamins and nutritional supplements, formulated exclusively by doctors, as well as an automatic replenishment program that allows customers to devise a suitable, personalized regimen.
The experts that Phillips Health, LLC works with are leaders in the field of alternative medicine, including Julian Whitaker, M.D., Dr. David Williams, Stephen Sinatra, M.D., Susan Lark, M.D., Patrick Holford and Marcus Laux, N.D.
Phillips Investment Resources has brought market-beating investment advice to the individual investor for more than 25 years. Phillips’ editors enable investors to build their wealth in a serious, consistent way. Phillips Investment Resources produces consumer newsletters, fax/e-mail services, Web sites and other investment resources.
Phillips Investment Resources also encompasses Investorplace.com, Fabian Investment Resources, and Changewave.com.
For descriptions and subscription information on Phillips Investment Resources’ products, including John Dessauer’s Investor’s World, Michael Murphy’s Technology Investing, and Richard E. Band’s Profitable Investing, please visit the Investment Resources Product Catalog.