Helping Turnaround Manufacturers: A Conversation with DiAnn Beyer, Director of Accounting and Compliance at MATAAC
At the heart of every successful manufacturing turnaround is a partner who understands the numbers, the regulations, and most importantly, the people behind the products. DiAnn Beyer, Director of Accounting and Compliance at MATAAC (MidAtlantic Trade Adjustment Assistance Center), is one of those partners. With a sharp eye for detail and a deep commitment to accountability, DiAnn plays a pivotal role in helping turnaround manufacturers. Especially when navigating the complex path from economic distress to renewed competitiveness.
In this exclusive Q&A, DiAnn shares her insights on what it takes with helping turnaround manufacturers. In particular, those impacted by foreign imports and how MATAAC’s cost-shared projects are structured. Whether you’re a business owner looking to stabilize operations or a consultant helping clients reposition for growth, DiAnn’s perspective offers valuable lessons on resilience, compliance, and strategic transformation.
How do you explain MATAAC to a manufacturer in distress?
MidAtlantic Trade Adjustment Assistance Center (MATAAC) has been chartered by the Economic Development Administration of the U.S. Department of Commerce with responsibility for the management of Trade Adjustment Assistance for Firms (TAAF) program. The program was established by congressional legislation back in 1974, as amended, to help turnaround manufacturers. Exclusively manufacturers who’ve been negatively impacted by foreign trade. The program is set up to help and partner with a manufacturer who experiences sales and employment declines, as well as has been impacted by trade. The goal is to help create a business recovery program and help them restore their financial conditions and improve for growth.
Why do so few manufacturers know about TAAF and how can we change that?
The manufacturing industry doesn’t really know about the Trade Adjustment Assistance for Firms (TAAF) program, because we assist manufacturers who’ve been negatively impacted by trade. These manufacturers are suffering with declines in sales and employment. We are conditioned as humans not to share our difficulties. We are also a highly confidential program, so we don’t ever ask for customer testimonials or provide information other than what was required by the Trade Act information out. It’s confidential, and therefore we’re not known in the industry. Now the second part of your question is, how can we change that? We need to educate the industry to let them know that the MidAtlantic Trade Adjustment Assistance Center (MATAAC) is here with the TAAF program as a resource for them when they need us.
What’s one transformation story that still gives you goosebumps?
One of the things I love best about my job is that every firm that enters and completes the TAAF program, leaves the program with a success story.
Firms come into the TAAF program in distress and we build their business recovery plan. We partner with consultants and implement projects. We cost-share those projects, so firms have a benefit there as well in our partnership.
They always exit the program by creating their own success story. So, to pick one that provides goosebumps, I don’t have just one. I absolutely enjoy finalizing a client’s journey in the program by writing their success story.
As an accountant, I do prefer the transformation stories that have the better performance metrics. For example, a manufacturer that implements an e-Commerce website project that allows their sales to explode relatively quickly is always exciting.
However, since we’re so used to success stories, because that’s the result and ultimate goal of the TAAF program, when thinking about transformation stories I can’t help my mind from thinking about those missed opportunities from the manufacturers who don’t want to take the opportunity to move forward through the program. They’re the ones that just break my heart and that’s where my mind often goes when I think about transformation stories – the ones that don’t take advantage of the opportunity and never get their success story.
What’s the biggest mistake manufacturers make when trying to turn things around alone?
The answer is in the question. It is trying to do it alone. If we already knew what to do, we’d already been doing it. What I see in my work with manufacturers is when sales start to decline to the point where they start needing to reduce production hours or lay off employees, there is a tendency to take an internal view of what’s going on within the company. An attempt to solve one’s own problems. However, when we take a moment to ask for help, we can bring a group of experts together and we can then come up with solutions that may have been overlooked when we’re doing it alone.
What advice would you give a company that’s on the fence about asking for help?
The best advice I could give a company that’s on the fence about asking for help is don’t be afraid to reach out and ask for help. The best solutions to our problems are the ones that we develop and implement together. After all, we are always better together.
Let me put it in this perspective. I see people and industry in three categories of problem solving. There are the proactive, the reactive and the status quo mindsets.
Those with a proactive mindset try to always be prepared. They focus on gaining information, improving and growing. They tend to be industry leaders. The reactive mindset waits for an issue or problem to arise before it creates change. The status quo mindset will resist change even when problems are negatively impacting their business. Their mindset is stuck in “this is how we have always done things.”
I’ll give you an example. Let’s take it out of manufacturing for a moment and personalize it. Let’s pretend for a moment that we are talking about your health instead of your manufacturing business. A proactive mindset seeks to stay healthy. Reactive mindset waits until there is a health issue and then seeks medical attention. A status quo mindset ignores the pain because they are afraid of what they might find out is wrong.
The best advice I would give to a company that’s on the fence about asking for help is whenever you can – be proactive. Make the call and start your recovery.
How MATAAC Serves Mid-Atlantic Manufacturers
For over five decades, MATAAC (MidAtlantic Trade Adjustment Assistance Center) has been helping turnaround manufacturers. This is done by tackling trade challenges, regain competitiveness, and boost profitability. MATAAC provides solutions to manufacturers located in Delaware, Maryland, Pennsylvania, Virginia, West Virginia, and Washington D.C. MATAAC has been chartered by the Economic Development Administration of the U.S. Department of Commerce with responsibility for the management of Trade Adjustment Assistance for Firms (TAAF) program. The TAAF program is a crucial resource that supports businesses in navigating global market shifts.