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

traditional reports stop short. here’s the difference.

by hitendra patil
client accounting services: the definitive success guide

if you are wondering whether cas needs a different set of reports, you are in the right place. at the same time, it may be confusing how you can produce reports that are different than those your software provides out of the box.

more: six ways that cas processes are different | nine ways to measure client experience | twelve clues it’s time to outsource or offshore | six steps to spreading cas awareness | cas is an upgrade pitch | hook your firm on cas | can you identify real cas prospects? | 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.

cas is about the outcomes of your work, from the clients’ perspective. cas outcomes are useful, insightful, and advise clients in ways that routine, traditional reports cannot deliver. the outcomes you provide from your cas offering need to relentlessly focus on the relevance, usability and importance from your clients’ point of view. one of my ex-clients, an experienced and expert cpa from san diego – who had mostly high-net-worth individuals with multiple businesses as his clients – told me, “after 19 years in practice, i realized that small to medium business entrepreneurs are not really concerned with managing their balance sheets. it is the job of the accountant.”
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how to help your client run their business better.

by hitendra patil
client accounting services: the definitive success guide

let us focus on cas-specific processes that can give you competitive advantages. this is not about the technicalities of accounting processes. as a professional accountant, you already know the accounting fundamentals required to create your processes for each of the segments of the services you provide.

more: why cas? why now? | 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 | hook your firm on cas | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

are cas processes different than what you have been doing till now? yes, and no.
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do your processes lead where you want your firm to go?

by hitendra patil
client accounting services: the definitive success guide

if you were to define how your firm is different in three sentences, what would those three sentences be?

write them down. read those the next day and judge for yourself if your competitors can say the same three sentences to differentiate their firms. if yes, you will see why this is a significant challenge for your firm’s growth aspirations.

more: how the pandemic changed firm mindsets | twelve clues it’s time to outsource or offshore | yes, you have the staffing for cas | why firms shy away from cas | hook your firm on cas | can you identify real cas prospects? | 8 ways to create your cas practice | do you value your cas value?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the classic equation of “people, process, and technology” defining differentiation from the competition is somewhat flawed in accounting. by its very nature, accounting is about doing exceptionally well-defined work that follows clear laws and regulations. most firms have employees certified in similar lines of education and specialization. technology solutions for accountants are highly mature now.
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plus the three categories of risk.

by hitendra patil
client accounting services: the definitive success guide

when you are the key person to make things happen at your firm, you want to invest as much time in “business development” (not just marketing and sales) as humanly possible. your firm’s growth will make you feel that producing and delivering your services is an essential core business function for you, but some of it is not. freeing up yourself to spend more time focusing on the things that add value to your practice, and help set it apart from the competition is an essential differentiating growth strategy you will ever deploy. the same principle applies to your experienced, talented staff.

more: matching your tech to your cas clients | the tech stack you need for cas | finding profits in cas | cas is an upgrade pitch | why you can be a virtual cfo
exclusively for pro members. log in here or 2022世界杯足球排名 today.

you will build your cas practice on newer, cloud, collaborative technologies. it will help you automate many routine functions and optimize your operating costs. but you still need competent people to manage, nurture and strengthen your client services and advisory functions.
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why it is worthwhile.

by hitendra patil
client accounting services: the definitive success guide

client accounting services essentially requires an ability for your firm to be able to best serve the needs of all your clients. in other words, your firm’s technology stack, services, processes and pricing packages need to cater to businesses of different sizes, turnovers, as well as various levels of tech-savvyness of the business owners and their employees. in yet other words, your firm should have the ability to do part of the accounting work or all the work your clients offload to your firm.

more: yes, you have the staffing for cas | six steps to spreading cas awareness | how to tell who fits cas | cut cost by three quarters with cas? yes, please | client wants vs. needs | 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.

in such cases, you want the technology stack to be as standardized as possible to avoid costly, error-prone and time-consuming need to deal with a variety of software. at the same time, when clients do part of the work, you must seek to implement collaborative technology on the cloud to eliminate duplication of data entry and mailing/emailing information back and forth between your firm and clients. this will, most likely, require you to convince your clients of the benefits of common, collaborative, cloud technology platform, and more likely than not, train the clients onto newer technologies. but the experience of hundreds of firms shows that the payoff far outweighs the cost of such efforts.
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it depends on your cloud use.

by hitendra patil
client accounting services: the definitive success guide

your firm’s current processes/procedures adapted to your current technology stack, or vice versa. trying to “fit in” client accounting services into your existing technology stack may become a challenge for you – not just from a procedural point of view but also from a profitability point of view. if your current technology stack is still more of desktop software, it could be nearly impossible for you to offer cas as profitably as potentially possible with non-desktop solutions.

more: yes, you have the staffing for cas | six steps to spreading cas awareness | how to tell who fits cas | cut cost by three quarters with cas? yes, please | client wants vs. needs | the big money in cas for small firms | the mindset you need for client accounting services
exclusively for pro members. log in here or 2022世界杯足球排名 today.

before you start thinking, “oh gosh, this is going to be a hugely expensive technological overhaul of my firm,” stop. cas does need you to adapt to an optimal technology mix, but it does not mean you just throw away your current technology and bring in entirely new technology. cas does not need a technological transformation of your firm. depending upon your existing technology stack, it may only require some reorganization, integration and adjustment.
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your clients may not know how it would help them.

by hitendra patil
client accounting services: the definitive success guide

what is stopping you from offering client accounting services? maybe your clients aren’t asking for it. no matter. unless you are providing only tax return preparation services only to individuals, you can, and should, make sure your clients learn about the many benefits of cas.

more: why firms shy away from cas | how to tell who fits cas | cut cost by three quarters with cas? yes, please | client wants vs. needs | the big money in cas for small firms | the mindset you need for client accounting services
exclusively for pro members. log in here or 2022世界杯足球排名 today.

i sent a quick one-question poll to randomly selected people. i had no clue if such people bought any services from accountants. the question was simple: “what word comes to your mind when you hear the word ‘accountant‘?”
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automate more? check. sell more services to the same clients? check.

by hitendra patil
client accounting services: the definitive success guide

if you feel offering client accounting services will bring in a lesser profit for you compared to the other services you are offering now, you may feel it is not a fit. it may be because you may have experienced others providing a lower rate, lower profitability commoditized services that you believe are actually cas offerings. if so, it is not your fault because there has been a great deal of confusion in the profession about what exactly is cas.

more: why firms shy away from cas | how to tell who fits cas | cut cost by three quarters with cas? yes, please | client wants vs. needs | the big money in cas for small firms | the mindset you need for client accounting services
exclusively for pro members. log in here or 2022世界杯足球排名 today.

you may still feel that some of the cas components are low-profit services, but those are like essential building blocks that lead to higher value, higher priced and hence higher profit services that you can sell to the same clients. what steps can you take to make cas one of the most profitable service segments for your firm?
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