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new 卡塔尔世界杯常规比赛时间 study shows broad interest in cas, but also widespread failures to achieve hoped-for goals.<\/strong><\/p>\n
by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n
client accounting services (cas), the full-menu offering of taking over many of a client’s routine internal bookkeeping chores, is fast emerging as an essential growth strategy for accounting firms across the nation, according to a new 卡塔尔世界杯常规比赛时间 research study, perhaps the broadest such study undertaken in the field so far.<\/p>\n
join the survey. get the results: <\/strong>the questionnaire remains open and all participants receive a special topline executive summary of the results at no charge, just for joining the survey. take the survey here<\/span>.<\/a><\/strong><\/p><\/blockquote>\n
patil<\/figcaption><\/figure>\n “almost all firms recognize that cas is cash<\/strong>,” says hitendra patil, chief architect of the research project, a contributor to 卡塔尔世界杯常规比赛时间, and author of accountaneur: the entrepreneurial accountant<\/a>. “but many are apparently still struggling to cash in.”<\/p>\n
the findings so far indicate the hurdles created by an inability to change the core business models of accounting firms \u2013 from compliance to advisory, according to patil, who also serves as director of customer success at accountantsworld<\/a>.<\/p>\n
\n
- 9 in 10 firms offering cas today say it’s “important to the firm’s future.”<\/li>\n
- 8 in 10 firms report cas “provides superior revenue growth.”<\/li>\n
- 6 in 10 say cas deliver above-par profit margins.<\/li>\n
- 5 in 10 report cas boosts “staff morale.”<\/li>\n
- 9 in 10 cite improvements in “client satisfaction.”<\/li>\n
- 8 in 10 are “attracting new clients” with cas.<\/li>\n
- 8 in 10 confirm cas “creates new opportunities” for the firm.<\/li>\n<\/ul>\n
yet, despite the potential dividends in providing client accounting services, many firms are struggling to perfect their offering to make it a baked-in part of the firm’s dna, and ultimately obtain all the hoped-for benefits.<\/p>\n
\n
- only about 15 percent of firms say they are “very satisfied” with the financial and operational performance of their client accounting services, and 40 percent are merely “satisfied.” the rest are ambivalent (30%) or dissatisfied (16%).<\/li>\n<\/ul>\n
the new study, which covers more than 8,000 firms, apparently more than any other conducted in the profession to date, includes firms offering cas, as well as those who are shying away from it, and those who have tried cas and failed to make a go of it.<\/p>\n
key findings<\/strong><\/p>\n
the 卡塔尔世界杯常规比赛时间 research study provides<\/p>\n
\n
- a snapshot of the state of client accounting services in the profession,<\/li>\n
- answers the most salient questions firms encounter about cas practices and procedures, and<\/li>\n
- offers a roadmap for firms to launch and advance a cas business.<\/li>\n<\/ol>\n
the power of client accounting services to strengthen and build firms is clear from those who are jumping into the specialty:<\/p>\n
\n
- 9 in 10 firms offering cas today say it’s “important to the firm’s future.”<\/li>\n
- 8 in 10 firms report cas “provides superior revenue growth.”<\/li>\n
- 6 in 10 say cas deliver above-par profit margins.<\/li>\n
- 5 in 10 report cas boosts “staff morale.”<\/li>\n
- 9 in 10 cite improvements in “client satisfaction.”<\/li>\n
- 8 in 10 are “attracting new clients” with cas.<\/li>\n
- 8 in 10 confirm cas “creates new opportunities” for the firm.<\/li>\n<\/ul>\n
yet, despite the potential dividends in providing client accounting services, many firms are struggling to perfect their offering to make it a baked-in part of the firm’s dna, and ultimately obtain all the hoped-for benefits.<\/p>\n
\n
- only about 15 percent of firms say they are “very satisfied” with the financial and operational performance of their client accounting services, and 40 percent are merely “satisfied.” the rest are ambivalent (30%) or dissatisfied (16%).<\/li>\n<\/ul>\n
pricing the new service line still needs to be sorted out, with many firms trying a mix of strategies.<\/p>\n
\n
- 32% of firms are billing by the hour.<\/li>\n
- 28% are experimenting with value-pricing.<\/li>\n
- 43% are charging flat rates or fixed fees.<\/li>\n
- and 36% are trying a mix of pricing strategies.<\/li>\n<\/ul>\n
most firms are relying on their customary marketing techniques to develop their cas business.<\/p>\n
\n
- 50% are “proactively seeking referrals.”<\/li>\n
- 48% are relying on their websites.<\/li>\n
- 35% are using old-fashioned networking for new business.<\/li>\n
- 15% are investing in search engine optimization.<\/li>\n
- 12% are going to social media and influencers.<\/li>\n
- 11% are developing content marketing and thought-leadership campaigns.<\/li>\n
- 8% have “assigned a specific person” to take the lead.<\/li>\n
- 7% are promoting cas with webinars, events or podcasts.<\/li>\n
- 5% are using telemarketing and email promotions.<\/li>\n<\/ul>\n
but policies and procedures to support and expand the cas business are lagging.<\/p>\n
\n
- only half of firms offering client accounting services are using cas-specific engagement letters.<\/li>\n
- 25% have created marketing or sales collateral describing their cas offering.<\/li>\n
- 23% use standardized cas report sets.<\/li>\n
- 22% “have a checklist for identifying potential cas clients.<\/li>\n
- and only 12% have settled on a standardized list of the key performance indicators they’ll monitor for clients.<\/li>\n<\/ul>\n
the firms who are still sitting on the sidelines of the cas craze have plenty of good reasons, chief among them: people problems.<\/p>\n
\n
- 48% of the firms who are not in the cas business say they “don’t have the staffing for it.”<\/li>\n
- 24% say their “clients aren’t asking for it.”<\/li>\n
- 21% calculate that cas would dilute profits from other services.<\/li>\n
- 18% report cas are simply “not the right fit for our firm”<\/li>\n
- 16% “don’t have the technology for it.”<\/li>\n
- 10% simply “don’t see a good reason to do it.”<\/li>\n<\/ul>\n
still, 47 percent of those on the sidelines say they are monitoring the marketing and are currently “considering” jumping into client accounting services.<\/p>\n
to be sure, though, 24 percent have no plans to consider launching a cas practice and 8 percent “have tried it and dropped it.” another 21 percent admitted ignorance, checking off: “huh? what’s ‘client accounting services?'”<\/p>\n
by most definitions (and there are a number), client accounting services include a range of tasks and activities usually handled by the client. among cas-practicing firms:<\/p>\n
\n
- 92% handle basic bookkeeping.<\/li>\n
- 90% provide financial statements, p&l’s, and reports.<\/li>\n
- 78% take care of sales tax filings.<\/li>\n
- 76% deliver payroll and payroll tax services.<\/li>\n
- 76% also give business advisory and consulting services.<\/li>\n
- 71% do write-up.<\/li>\n
- 70% process payrolls.<\/li>\n
- 69% calculate sales taxes.<\/li>\n
- 53% handle accounts payable and pay bills for clients.<\/li>\n
- 44% provide outsourced or virtual cfo services.<\/li>\n
- 42% monitor and manage cash flows.<\/li>\n
- 36% assume invoicing responsibilities and take charge of accounts receivable.<\/li>\n<\/ul>\n
but many cas-shy firms are already just a couple steps away from full-scale cas capabilities. among the firms not offering cas:<\/p>\n
\n
- 60% do basic bookkeeping.<\/li>\n
- 57% provide financial statements, p&ls, and reports.<\/li>\n
- 53% also give business advisory and consulting services.<\/li>\n
- 48% take care of sales tax filings.<\/li>\n
- 47% do write-up.<\/li>\n
- 46% deliver payroll and payroll tax services.<\/li>\n
- 40% process payrolls.<\/li>\n
- 40% calculate sales taxes.<\/li>\n
- 20% handle accounts payable and pay bills for clients.<\/li>\n
- 14% assume invoicing responsibilities and take charge of accounts receivable.<\/li>\n
- 13% monitor and manage cash flows.<\/li>\n<\/ul>\n
cas-less firms also provide routine, as well as, high-value, services:<\/p>\n
\n
- 95% prepare tax returns.<\/li>\n
- 58% advise on tax strategy.<\/li>\n
- 19% provide audit or assurance services.<\/li>\n
- 17% handle personal financial planning.<\/li>\n
- 10% consulting on technology.<\/li>\n
- 9% do business valuations.<\/li>\n
- 8% are into wealth management.<\/li>\n<\/ul>\n
“client accounting services may be the new buzz-word for today’s notion of a full-service accounting firm,” telberg says. “but clearly, there are challenges, and it’s not necessarily the answer for every firm. that said, we’re still in the early stages of adoption, and many firms are just waiting for the right moment to jump into cas.”<\/p>\n
methodology<\/strong><\/p>\n
the survey was initially launched in june 2019 using an email invitation to more than 100,000 卡塔尔世界杯常规比赛时间 subscribers representing a statistically valid sample of the tax and accounting industry. more than 8,000 completed an initial questionnaire and nearly 700 completed a more detailed questionnaire. the methodology provides a 95 percent level of confidence for a 3-5 percentage point margin of error.<\/p>\n
the survey remains open at this time and readers of this report are welcome to share the report and the link to the survey with colleagues and peers who may also be interested in the results.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
new 卡塔尔世界杯常规比赛时间 study shows broad interest in cas, but also widespread failures to achieve hoped-for goals.<\/strong>
\nby 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2779,3058,3120,3002,11,2306],"tags":[],"class_list":["post-67530","post","type-post","status-publish","format-standard","hentry","category-charts-graphs","category-client-accounting-services","category-pro-member-exclusive","category-special","category-research","category-tech-and-fintech"],"acf":[],"yoast_head":"\nis client accounting services overhyped? - 卡塔尔世界杯常规比赛时间<\/title>\n<meta name=\"description\" content=\"actionable intelligence for tax, accounting, and financial professionals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/\/www.g005e.com\/2019\/10\/28\/is-client-accounting-services-overhyped\/\" \/>\n<meta property=\"og:locale\" content=\"en_us\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"is client accounting services overhyped? 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