everyone has to be on board.
by hitendra patil
client accounting services: the definitive success guide
q: what is the best way to get firm-level buy-in for the caas practice?
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a: assuming client accounting and advisory services is somewhat new to your firm, introducing a new service line to your firm requires devising a strategy to make the new service line successful, careful planning to implement the strategy, and of course, excellent internal communication. here are some quick steps:
- caas mindset: advisory is not just about the mechanics of offering services. the mindset is to feel fulfilled by the positive impact you will deliver through caas. the mindset can be developed (my cas book explains how). the first step is to uncover this mindset (it exists, it just needs to be liberated from the depths of the human mind).
- create a strategic plan: you’d want to develop a strategic plan to show how the caas service line will align with the firm’s overall strategy and how it can complement the existing services, especially when it comes to adding more value to your clients’ businesses.
- develop a business case: you’d also want to conduct market research and evaluate the potential for offering caas. a business plan that outlines the expected revenue, potential clients and the resources required to launch and operate this new service line can help get your partners on board.
- engage your partners: you’d then want to present the business case and strategic plan to the other partners in the firm. if they have any concerns, address them and explain the potential benefits of caas to the firm and clients.