survey 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.
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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.
it’s like an embrace
by definition, cas enriches the relationship between cpas and clients. it involves helping clients get more out of all kinds of finance-related reports, from basic books to cash flow to sales reports. the accountant’s insights make for deeper understandings. a handshake turns into something more like an embrace.
respondents to the survey are indicating how widespread cas has become. over 59 percent say they currently offer such services, and another 21 percent are considering it. for reasons of their own, 20 percent would rather avoid this expansion of services and their consequent revenue.
one respondent says cas “is necessary for survival.”
another uses such services to “even out the work over the year.”
but another warns: “scope creep will kill you.”
scope creep is something to keep an eye on, but it isn’t showing signs of being terminal. almost 75 percent of those who offer cas have been doing so for more than five years. another 21 percent have been at it for one to five years.
clients want more
cas is working because clients want it.
but what, exactly, do they want?
a good 77 percent of respondents say their clients want more frequent contact. forty-five percent say that the additional time talking with and listening to clients is the most important factor in a cas practice, and 34 percent rank talk time as the second-most important reason to engage in cas.
that’s a lot of time not just schmoozing but assessing the client’s financial status and figuring out how to offer insight into what it all means.
indeed, 55 percent of respondents say their clients are looking for proactive or deeper advice, something their non-cas clients aren’t expecting.
and 61 percent say their cas clients want that contact and that advice to help them make good decisions. included in those decisions, say 60 percent, are decisions stemming from tax planning.
it takes time
giving clients and customers what they want is a pillar of every successful business. and of course that takes time.
but time is what accountants sell, right? whatever your pricing technique, ultimately it boils down to time.
and that’s what staff and partners are for – to give (well, ok, sell) clients time.
so no surprise that 52 percent say they have staffers dedicated to cas clients exclusively, and 36 percent have practice leaders exclusively dedicated to them.
cas practices are adopting a variety of strategies for giving clients the time they want and need.
“we have two cpas that work on cas clients,” reports one respondent. “not enough cas clients for full-time staff.”
on the other hand, another says, “everyone works on cas and tax returns.”
several small firm owners and sole proprietors said that they handle all cas services themselves.
one is in the process of outsourcing select cas services, which 14 percent are already doing, and another 13 percent are considering. (only 7 percent are outsourcing non-cas work.)
whoever’s doing the work, cas inevitably knits cpas and clients more closely together. that’s a good thing.
is cas a significant part of your practice? take the survey and share your thoughts. you’ll get an advance copy of the results. click here to get started.