{"id":119720,"date":"2023-12-10t11:55:22","date_gmt":"2023-12-10t16:55:22","guid":{"rendered":"\/\/www.g005e.com\/?p=119720"},"modified":"2023-12-10t16:03:42","modified_gmt":"2023-12-10t21:03:42","slug":"the-when-what-how-of-cas","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/12\/10\/the-when-what-how-of-cas\/","title":{"rendered":"the when, what, how of cas"},"content":{"rendered":"

\"\"<\/strong><\/p>\n

weave review actions into your processes.<\/strong><\/p>\n

by hitendra patil<\/i>
\nclient accounting services: the definitive success guide<\/i><\/a><\/p>\n

why review your client accounting services offering periodically?<\/p>\n

most accounting firms ultimately optimize their internal processes and resources that produce their services. the measurement of such optimization is the profitability of the firm. when firm owners\/partners feel the pressure on profitability, it is natural for them to measure the factors that contribute to profitability, and the cost thereof.<\/p>\n

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you can measure the performance of your cas offering in similar ways. but there is a difference that makes cas performance measurement processes somewhat unconventional. it is not just for the cost and profitability parameters you will measure, but because cas is about outcomes your cas clients (are supposed to) receive\/experience, measuring the \u201cpromise fulfillment\u201d of cas is a necessity. and if you do not do it periodically, at pre-decided intervals, it can be challenging to course-correct when it is too late.
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\ncas as a revenue segment will continue to evolve, especially given the pace of technological advancement, and also because of comparatively much higher levels of awareness among clients because information is so much more easily available to
\npeople (compared to let\u2019s say about 20-30 years ago). the internet and social media make it easier for your clients and prospects to do their \u201cdue diligence\u201d about your firm. it means cas clients\u2019 expectations will keep evolving and changing. you would want to make sure your cas offering is, at the very least, \u201ccontemporary,\u201d ideally \u201cahead of the curve.\u201d<\/p>\n

you might feel this is true for any other service, not just cas. but think about what is the perception of your clients about \u201ctax preparation services.\u201d it is a highly mature service segment that is highly commoditized by technology. client expectations of what they experience as an outcome are nearly unchangeable \u2013 as low tax a preparation fee as possible, filing in time, and the peace of mind that they have not paid more than what they are required to pay. cas is still to find that unchangeable perception\/expectation level in clients\u2019 minds, and that is a great opportunity for accountants to show the new possibilities and deliver the value.<\/p>\n

when to review<\/h3>\n

your firm\u2019s cas performance needs to be reviewed periodically. but how frequently? when?<\/p>\n

it depends on how new you are to offering cas. because i interact with professional accounting firms day in day out \u2013 with firms that are just starting to offer cas, those that have been offering it for some months and those that have been at it for many years \u2013 i could figure out some common patterns in how firms evaluate their processes, and when. i identified one particular factor that seemed to indicate how frequently accountants review their cas processes is related to the maturity of their cas practice. i analyzed and correlated the frequency of their review to the length of time that the firms have been offering cas. as a rule of thumb, the ballpark timelines for your firm\u2019s cas performance review should be as described below:<\/p>\n