{"id":80193,"date":"2020-11-08t12:30:50","date_gmt":"2020-11-08t17:30:50","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=80193"},"modified":"2022-01-10t13:51:20","modified_gmt":"2022-01-10t18:51:20","slug":"why-you-must-offer-cas","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/11\/08\/why-you-must-offer-cas\/","title":{"rendered":"six reasons cas is king"},"content":{"rendered":"

\"\"<\/a>why client accounting services is moving to the forefront of the full-service accounting firm’s offerings.<\/strong><\/p>\n

by hitendra patil<\/i>
\naccountaneur: the entrepreneurial accountant<\/i><\/a><\/p>\n

before we get to why firms can\u2019t miss out on cas, we need to know why business owners buy accounting software, even when their core business is not accounting.<\/p>\n

more:<\/b> who\u2019s afraid of client accounting services?<\/a> | what cas is \u2026 and is not<\/a> | how to develop the cas mindset<\/a> | the right mindset for client accounting services<\/a> | client accounting services: the definitive guide<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

in the years before the internet, accounting software was only desktop software. businesses used it to run their business processes \u2013 to issue checks, record income and for some other processes. business owners predominantly did transactions processing, leaving the financial accounting \u2013 and compliance \u2013 to professional accountants.
\n
\nmore likely than not, business owners had no option but to get the transaction processing done themselves or by their staff, many times by those who had no accounting education. no wonder, then, that business owners sending \u201cmessy books\u201d to accountants was a common experience.<\/p>\n

business owners had accountants come to their office and do the \u201creal\u201d accounting. or they gave an \u201caccountant\u2019s copy\u201d of the software to their accountants \u2013 for \u201ccleaning up\u201d and \u201cmaking adjustments.\u201d it was not possible for business owners, their staff, and the outside accountants to work together collaboratively in real-time, or even in near real-time, on the same accounting database, unless all of them were at the same office\/premises.<\/p>\n

the result was inefficient, expensive, inaccurate, outdated accounting information \u2013 used mainly for compliance purposes, and only rarely for any timely business decision-making \u2013 and invariably, messy books. more importantly, business owners perceived that they could do what accountants do \u2013 and that perception commoditized the pricing\/fees for accounting services.<\/p>\n

fortunately, the birth of the internet planted the seeds for the birth of the cloud.<\/p>\n

the cloud-enabled the accounting software to be used from anywhere, anytime. business owners, their staff and outside accountants could now use the same software at the same time.<\/p>\n

desktop accounting software forced and constrained business owners to use it from their premises. unfortunately, even with cloud accounting software, business owners and their staff mostly continue to issue checks, create invoices, record income and so on. accountants can quickly take over all this work if clients are made aware of the benefits of doing so.<\/p>\n

the cloud makes it possible \u2013 no, it makes it inevitable \u2013 for smart business owners to focus on their core business and let professional accountants take care of accounting, including transactional work (to be done accurately).<\/p>\n

this new possibility gives rise to cas opportunities for accountants to work in collaboration with business owners in real-time.<\/p>\n

cas is one of the fastest-growing new revenue segments of many top 100 firms, but the cas opportunity is more relevant and more available to smaller accounting firms!<\/p>\n

why is cas a great new revenue growth opportunity?<\/strong><\/p>\n

here are some of the critical factors that make cas a more significant opportunity for accountants, and for their clients, too:<\/p>\n

    \n
  1. cas is stickier:<\/strong> as accountants process transactions in real-time in collaboration with business owners, the sheer increase in the number of interactions between them \u2013 and the increased ability of accountants to help business owners make timely and better business decisions \u2013 means cas is a much \u201cstickier\u201d service. it is not easy for business owners to replace or recreate the value that cas delivers.<\/li>\n
  2. cas elevates accountants:<\/strong> as more and more advice is given, more frequently than before, accountants become top of mind, and that helps truly elevate them as their clients\u2019 most trusted advisors.<\/li>\n
  3. cas changes clients\u2019 perspective about accounting itself:<\/strong> previously, business owners saw outsourced accounting, which was essentially after-the-fact work, as more of an essential expense\/cost. therefore, business owners wanted to reduce the cost of it. now, as cas delivers more decision-support intelligence, the value that business owners receive from their accounting information makes it a win-win. increasingly, clients will not perceive accounting purely as a cost. they will see cas as an investment.<\/li>\n
  4. cas is more cash:<\/strong> from a client who more or less fits the cas model, your revenue, as a ballpark estimate (based on the experience of several firms), can triple<\/strong>. so, if your firm earned $4,000 to $5,000 a year in write-up work, cas can earn you $12,000 to $15,000 from the same client.<\/li>\n
  5. cas multiplies<\/em> your clientele:<\/strong> as you manage some key business processes for your cas client, you interact with your client\u2019s vendors and customers. those businesses, in turn, become your best prospects to sell your cas offering. even a small business, other than a mom-and-pop shop, can easily have an average of 20 vendors and 50-100 customers. imagine the multiple of your total \u201cwarm\u201d lead-pool \u2013 and compute the impact on your revenue and profit if you manage to get just 10 percent of this captive audience!<\/li>\n
  6. cas provides superior revenue growth: <\/strong>the survey results revealed that 77 percent of the firms that offer cas agree that cas provides superior revenue growth. my interactions with cas firms indicate that it is the pace of revenue growth as well as the quantum of growth that makes cas a revenue-superior service offering for accounting firms.<\/li>\n<\/ol>\n