here’s what you’re looking for: hitendra patil

plus four tips for content creation.

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: seven ways to market your cas offering | 12 cas profitability killers | cas involves true communication | how weekly cas reports help businesses | cas: much more than bookkeeping | matching your tech to your cas clients | six steps to spreading cas awareness
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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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plus a tip for referrals.

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: 12 cas profitability killers | how to set your firm’s cas pricing | craft an engagement letter for cas success | six ways that cas processes are different | how the pandemic changed firm mindsets | the tech stack you need for cas | finding profits in cas | cas is an upgrade pitch
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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%
• content marketing and thought leadership: 10%
• paid advertising in local, regional, national or internet media: 9%
• we’ve assigned it to a specific person or team: 8%
• webinars, events or podcasts: 6%
• outbound telemarketing and emails: 5%

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figure out which clients make you less money and why.

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: how to set your firm’s cas pricing | the top cas pricing strategies | how to choose your cas processes | nine ways to measure client experience | twelve clues it’s time to outsource or offshore | yes, you have the staffing for cas | why firms shy away from cas
exclusively 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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time taken to produce the work is not a usable outcome for the client.

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: the top cas pricing strategies | cas involves true communication | how weekly cas reports help businesses | cas: much more than bookkeeping | matching your tech to your cas clients | six steps to spreading cas awareness
exclusively 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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prepare for higher profitability.

by hitendra patil
client accounting services: the definitive success guide

pricing your services correctly to ensure reasonable profitability is a major decision you will take in your client accounting services practice.

more: cas involves true communication | craft an engagement letter for cas success | six ways that cas processes are different | how the pandemic changed firm mindsets
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the accounting profession’s largest cas survey results revealed how cas firms price their cas offering:

• the topmost method of pricing the cas offering is fixed/flat fee, used by 41 percent of the respondents.
• the next common method of pricing cas is “mixed method of pricing” (a mix of hourly, fixed and value pricing), charged by 36 percent of respondents.
• hourly billing method is used by 33 percent of respondents.
• about 28 percent of respondents use value pricing as the method for cas pricing.

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take “trusted advisor” to another level.

by hitendra patil
client accounting services: the definitive success guide

a successful client accounting services practice requires increased interactions with clients. your usual non-cas methods of client communications are not sufficient to meet the demands and expectations of your cas clients. you must leverage new tech tools to reach out, communicate and collaborate with clients more frequently.

more: craft an engagement letter for cas success | how to choose your cas processes | nine ways to measure client experience | twelve clues it’s time to outsource or offshore | yes, you have the staffing for cas | why firms shy away from cas
exclusively for pro members. log in here or 2022世界杯足球排名 today.

some accounting software can help you automate client notifications (by email/text) based on customized triggers set up in the software. similarly, automated payroll software can keep clients informed automatically. mobile apps of core accounting software are becoming a necessity to deliver client service and communications.

why?
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include provision for a 90-day reset.

by hitendra patil
client accounting services: the definitive success guide

“people think of us (accountants) as the compliance agents – the necessary evil.”

this sentence haunts me even today, after hearing it nearly 15 years ago from a multi-award-winning, highly experienced cpa.

perception!

more: how to choose your cas processes | how weekly cas reports help businesses | cas: much more than bookkeeping | matching your tech to your cas clients | six steps to spreading cas awareness | how to tell who fits cas | the big money in cas for small firms
exclusively for pro members. log in here or 2022世界杯足球排名 today.

has the accounting profession’s brand been (predominantly) perceived as “compliance” only?

“we deal with the past. we do audits. and we deal with the present. we do taxes and books. future – is not our business.”
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structure your insights with the what-why-what formula.

by hitendra patil
client accounting services: the definitive success guide

we know the outcomes that are important from the client perspective can, and should, define your firm’s cas processes.

more: six ways that cas processes are different | nine ways to measure client experience | cas: much more than bookkeeping | finding profits in cas | cut cost by three quarters with cas? yes, please | clients’ new expectations
exclusively for pro members. log in here or 2022世界杯足球排名 today.

but how do you create your firm’s cas-specific processes? where should you begin? how would you know what to change and what to add to your processes?
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