client accounting services

cas challenge: no staff, no services

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bar chart

demand isn’t a problem, but supply might be.

by 卡塔尔世界杯常规比赛时间 research

the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities and trends survey asks 23 questions about client accounting services. early results clearly reveal certain emerging issues:

more cas survey: cas ‘one-stop shop’ means steady clientele | accountants cozy up to clients with cas
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  • a majority of cpa firms (59 percent) now offer cas, and a lot more (21 percent) may soon join them.
  • a sizable portion of clients want these services.
  • staff shortages and training are the biggest challenge (for 30 percent) and biggest obstacle (for 44 percent) to offering cas.

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cas ‘one-stop shop’ means steady clientele

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bar chartaccountants share which niches offer the best new opportunities.

by 卡塔尔世界杯常规比赛时间 research

how do you measure success in client accounting services?

more cas survey: accountants cozy up to clients with cas
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almost half of early respondents to the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities and trends survey define success as that glorious moment when they become a one-stop shop for their clients.
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accountants cozy up to clients with cas

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bar chartsurvey respondents tell us what their clients want from cas that they don’t get from other services.

by 卡塔尔世界杯常规比赛时间 research

accountants are using client accounting services (cas) to get closer to their clients, according to early results from the 卡塔尔世界杯常规比赛时间 outlook 2024: emerging issues, opportunities and trends survey.

more: accountants torn over 2024 economy, offer advice | accountants bullish on income | cpas culling clients for better work-life balance | are you offering the right services? | which niche’s the best niche? | 42% of accountants turn away work over staff shortages
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the survey doesn’t exactly ask about cas leading to a closer relationship with clients, but responses to various questions indicate just such a result.
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the when, what, how of cas

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weave review actions into your processes.

by hitendra patil
client accounting services: the definitive success guide

why review your client accounting services offering periodically?

most accounting firms ultimately optimize their internal processes and resources that produce their services. the measurement of such optimization is the profitability of the firm. when firm owners/partners feel the pressure on profitability, it is natural for them to measure the factors that contribute to profitability, and the cost thereof.

more: your sales success is your proof | three keys to developing your cas sales process | your clients’ words = your new cas marketing | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas
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you can measure the performance of your cas offering in similar ways. but there is a difference that makes cas performance measurement processes somewhat unconventional. it is not just for the cost and profitability parameters you will measure, but because cas is about outcomes your cas clients (are supposed to) receive/experience, measuring the “promise fulfillment” of cas is a necessity. and if you do not do it periodically, at pre-decided intervals, it can be challenging to course-correct when it is too late.
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your sales success is your proof

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smiling man talking on phone in office

your existing clients can help with closing new ones.

by hitendra patil
client accounting services: the definitive success guide

as you hone your sales discovery process, you will see that asking and telling is not enough. you need to “show” as well.

more: three keys to developing your cas sales process | happy clients will blow your horn for you | attract clients through facebook groups | want higher profitability? turn to cas | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

what you show during the discovery discussion are your client accounting services sales collaterals. they are the “proofs” that you actually do what you say. these collaterals answer the often-unexpressed question in the prospect’s mind “what will i get?” for your cas sales process, the following are some examples of the sales collaterals:
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three keys to developing your cas sales process

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two men standing and shaking hands

plus seven points you need to identify.

by hitendra patil
client accounting services: the definitive success guide

“i am not a good salesperson.”

i have lost count of how many accountants have told me this over the years. but i also learned that what they really mean is that they do not have a well-defined, structured “sales process.”

more: happy clients will blow your horn for you | start with existing clients to add cas | your clients’ words = your new cas marketing | attract clients through facebook groups | how to destroy your cas profits | price by outcome, not time spent | want higher profitability? turn to cas | cas requires reaching out more
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this post is not about fundamental sales skills. that is beyond our scope. this is more about how to develop and execute your client accounting services sales process, pitch and supporting collaterals that can help get you more cas sales.
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happy clients will blow your horn for you

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burst of color emerging from trumpet bell

these are the best referrals you can get.

by hitendra patil
client accounting services: the definitive success guide

to expand and grow your client accounting services practice, you need a steady stream of new prospects. while referrals have been accountants’ #1 source of getting new clients, this method gives no predictability and control to accountants on which types of prospects come in their doors. you need the ability to attract cas-fit clients continuously. hence, your lead generation process needs to be adjusted accordingly.

more: start with existing clients to add cas | your clients’ words = your new cas marketing | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the accounting profession’s largest cas survey revealed that along with the firm’s website, “proactively seek referrals” is the top marketing method for firms to get new cas clients. how do you proactively seek referrals without waiting for them?
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start with existing clients to add cas

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their questions will help shape your pitch to others.

by hitendra patil
client accounting services: the definitive success guide

you will use very similar fundamental steps to generate words and content to express the value of your client accounting services offering. you will focus on each component of your cas offering to do so, e.g., different content to talk about bill payment services, different for advisory and outsourced cfo services, and so on.

more: your clients’ words = your new cas marketing | attract clients through facebook groups | want higher profitability? turn to cas | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas
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you will also use the “contrast principle” to differentiate between your “usual” services and “cas offering.” marketing cas to your existing clients will be different than marketing cas to your prospects.
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your clients’ words = your new cas marketing

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let them help tell your story.

by hitendra patil
client accounting services: the definitive success guide

your firm’s value proposition is not what you say. it is what your clients and prospects perceive. perception is reality. here are some proven ways to identify your firm’s real marketable value.

more: attract clients through facebook groups | how to destroy your cas profits | cas requires reaching out more | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you? | wants vs. needs: why not fill both?
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  • ask your clients: it is not so easy to “be in the customers’ shoes.” you will be surprised how you can gain immense insights from your clients – about how they perceive and experience your service and how they feel; what they find of value and what they feel frustrated about. don’t guess, don’t assume, just ask them. it is easy to conduct customer surveys online (e.g., surveymonkey has a free version that allows you to collect 100 responses; google forms are also free to use). identify the most common positives and negatives that emerge from survey data to be able to improve your marketing and customer experience.

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attract clients through facebook groups

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plus six more marketing avenues you might not have thought of.

by hitendra patil
client accounting services: the definitive success guide

we asked about sales and marketing methods as part of the accounting profession’s largest cas survey. among firms offering client accounting services, the chief means for gaining new cas business is “proactively seeking referrals” and the firm’s “website,” each at 48 percent. networking at local/regional/national events follows at 35 percent.

more: how to destroy your cas profits | price by outcome, not time spent | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the other marketing methods deployed by cas firms are:

  • networking at local / regional / national events: 35%
  • search engine optimization: 14%
  • influencer or social media marketing: 11%

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how to destroy your cas profits

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twelve causes to repair asap.

by hitendra patil
client accounting services: the definitive success guide

we discussed that you need to explain the why of your client accounting services pricing. a price is a measurable number. “value” of each of your cas component also needs to be reasonably measurable for your clients and prospects to understand the why. this is easier said than done, and you need to keep rewriting the value statements, testing them and revising them.

more: price by outcome, not time spent | want higher profitability? turn to cas | structure insights as what-why-what | set your processes apart in nine steps | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the best way to define the measurable value of each of your cas components is to state it from the client’s perspective, i.e., which business decisions the client can make based on the information/insight/intelligence you provide in a given cas component, and under which circumstances. then state the measurable impact of such business decisions. e.g., “on an average, we help our clients reduce money stuck in inventory by 11 percent, which in many cases results in lower overdraft interest costs by about 1.3 percent annually.” without the numbers in your value statements, clients can feel you are pitching marketing fluff.
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price by outcome, not time spent

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look at it from the client’s point of view.

by hitendra patil
client accounting services: the definitive success guide

when your prospects shop for client accounting services, what they find out about cas pricing methods and trends defines their pricing expectations. if you follow very different approaches to price your cas offering, it will take significant effort on your part to educate the prospects (and existing clients) about why you are pricing cas the way you are. as they say, it’s easier to ride the horse in the direction it’s going.

more: want higher profitability? turn to cas | cas requires reaching out more | cas reports are better. here’s how. | is it time for your firm to outsource? | raise cas awareness among your clients | which clients are best for cas | how much can automating bank feeds save you?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is good to first conform to the perceptions of prospects when it comes to your cas pricing. once you ride the horse, you can direct it to the destination you want to take it to. once you conform to the pricing method (not the dollar value) expectations of the prospect, their anxiety, and perception of risk (what value will they receive in the price they are willing to pay) reduce. after that, they are more open to evaluating the choices you present to them.
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would you buy your own services?

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don’t expect potential clients to if you don’t know what sets you apart.

by steven e. sacks, cpa, cgma, abc

do you ever wonder why after spending many hours on drafting, editing, proofing, and polishing—and proofing and polishing just once more—your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more steve sacks: how do you value your most important asset? | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge, experience, and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time, and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.

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