client accounting services

define not just what, but also when.

by hitendra patil
accountaneur: the entrepreneurial accountant

“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.

more: designing your firm’s cas processes | your firm’s processes can set you apart | technology and your cas clients | top five cas killers and how to overcome them | 21 ways to adjust your practice in 2021 | how to become an outsourced/virtual cfo
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perception!

has the accounting profession’s brand been (predominantly) perceived as “compliance” only?
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you might find yourself working backward.

by hitendra patil
accountaneur: the entrepreneurial accountant

we have examined how you can enhance your firm’s internal processes and what factors influence those processes. in this post, we will focus more on cas-specific processes that can give you competitive advantages. however, this post 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: your firm’s processes can set you apart | 12 signs it’s time to outsource | will 2021 be your cash-flow year? | identifying the right clients for cas | cas is, first, a communication challenge
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are client accounting services processes different than what you have been doing until now? yes, and no.
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not just in operations, but client experience.

by hitendra patil
the definitive success guide to client accounting services

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

more: 12 signs it’s time to outsource | how to create your firm’s cas team | the technology stack you need for cas | communicating cas to clients and prospects | how to communicate the value of cas | don’t wear a mask | the 8-step method for launching client accounting services | what cas is … and is not | client accounting services: the definitive guide
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read those the next day and judge for yourself if your competitors can say the exact same three sentences to differentiate their firms. if yes, you will see why this is a significant challenge for your firm’s growth aspirations.
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two different approaches.

by hitendra patil
the definitive success guide to client accounting services

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-savviness 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: will 2021 be your cash-flow year? | the technology stack you need for cas | communicating cas to clients and prospects | how to communicate the value of cas | don’t wear a mask
exclusively for pro members. log in here or 2022世界杯足球排名 today.

when clients do part of the work

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.
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5 key points in making your choices.

by hitendra patil
accountaneur: the entrepreneurial accountant

your firm’s current processes/procedures adapted to your current technology stack, or vice versa. trying to fit 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: top five cas killers and how to overcome them | identifying the right clients for cas | cas is, first, a communication challenge | which of your existing clients are cas-fit? | the services that cas clients need | who’s afraid of client accounting services?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

cas does not need a technological transformation

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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how many of these are you telling yourself?

by hitendra patil
the definitive success guide to client accounting services

why fall in the same trap that other firms have fallen into during their client accounting services journey? if you know what those traps are, you will save significant money and time in establishing your cas practice.

more: identifying the right clients for cas | communicating cas to clients and prospects | 21 ways to adjust your practice in 2021 | which of your existing clients are cas-fit? | the 8-step method for launching client accounting services | how to develop the cas mindset | client accounting services: the definitive guide
exclusively for pro members. log in here or 2022世界杯足球排名 today.

fortunately, the cpatrendlines cas survey identified which are the top five cas killers, for firms of different sizes, that the accounting profession has experienced.
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show your highest-priced package first.

by hitendra patil
accountaneur: the entrepreneurial accountant

will your existing clients or prospects buy higher-priced and more services from you? if you ask them to, will they feel put off?

more: communicating cas to clients and prospects | 21 ways to adjust your practice in 2021 | the services that cas clients want | six reasons cas is king | how to develop the cas mindset
exclusively for pro members. log in here or 2022世界杯足球排名 today.

if you do not ask, will you leave real money on the table? if you do not tell them about more services your firm is capable of providing, will they switch to another accounting firm simply because they were not aware of your other services?
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show them what they’ll be missing if they say no.

by hitendra patil
accountaneur: the entrepreneurial accountant

when you pitch cas to your existing clients and new prospects, your communication and messaging changes quite a lot. it is no more packages, hourly rates and standard deliverables mentioned on your website and in your emails, engagement letters and sales brochures/materials.

more: 21 ways to adjust your practice in 2021 | cas is, first, a communication challenge | which of your existing clients are cas-fit? | the services that cas clients need | who’s afraid of client accounting services? | the right mindset for client accounting services
exclusively for pro members. log in here or 2022世界杯足球排名 today.

communicating cas to your existing clients

cas is not a sales pitch to your existing clients. it is a value pitch, an upgrade pitch.
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are your clients happy? have you told your staff?

by hitendra patil
accountaneur: the entrepreneurial accountant

unless you become the “cas champion” or make someone accountable to be one, your cas practice will not take off the starting blocks.

more: 21 ways to adjust your practice in 2021 | how to communicate the value of cas | don’t wear a mask | the 8-step method for launching client accounting services | what cas is … and is not
exclusively for pro members. log in here or 2022世界杯足球排名 today.

and the single biggest initial challenge for the cas champ is how to communicate the value of cas to the firm’s future fortune to every stakeholder – be it partners, staff, clients or prospects. for this post, i will assume that your cas champ absolutely “gets it.”
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