{"id":95516,"date":"2022-03-14t22:42:04","date_gmt":"2022-03-15t02:42:04","guid":{"rendered":"\/\/www.g005e.com\/?p=95516"},"modified":"2022-12-22t00:40:32","modified_gmt":"2022-12-22t05:40:32","slug":"cas-drives-growth-at-the-top-100-firms","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/03\/14\/cas-drives-growth-at-the-top-100-firms\/","title":{"rendered":"five reasons the top 100 loves cas"},"content":{"rendered":"

client accounting services surpasses attest as the hottest menu item.<\/strong><\/p>\n

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

cas is the new no. 1.\u00a0for the first time ever, top 100 firms see client accounting services as the no. 1 growth driver<\/p>\n

“niche services fueled growth for the 2022 top 100 firms,\u00a0with client accounting services\/business process outsourcing\u00a0the most commonly reported\u00a0area of expansion over the last year for the\u00a083 responding t100 firms,” according to accounting today in releasing the much-followed list of the nation’s top-grossing tax and accounting firms<\/a>.<\/p>\n

“cas\/bpo shot up nine percentage\u00a0points to attain the no. 1 position for the\u00a0first time ever, with 84% of the t100 experiencing increased demand, continuing\u00a0its rapid upward trend in reported growth\u00a0over the last few years,” says accounting today.<\/p>\n

why and how has cas become the #1 growth driver for the top firms in the country?\u00a0let’s take a closer look.<\/p>\n

based on my continued research in cas, and hundreds of\u00a0 interactions with accountants over the last two years, here are the top five reasons firms are citing for such growth in cas demand:<\/p>\n

the great resignation:\u00a0<\/strong>believe it or not, the “great resignation” is benefiting accounting firms. cas relieves clients from the burden of hiring (which has become very challenging), training, and retaining accounting talent by offloading that work to accounting firms. it also lets clients focus on growing their business by focusing on what they do best.<\/p>\n

technology comes to the rescue:\u00a0<\/strong>while the great resignation also affects accounting firms, the profession moved to cloud technologies more rapidly than ever before since the pandemic started. that also helped firms more closely see and leverage the opportunities for integration and automation that cloud solutions provide. the resultant efficiency gains can nullify the challenges caused by talent war. firms are reporting that the same number of staff members can manage double or triple the volume of some transactional services like bookkeeping, payroll processing, compliance, etc. \u2013 because of such a technological shift.<\/p>\n

growth industries and niches:\u00a0<\/strong>the pandemic transformed the fortunes of some industries while denting others. as a result, accounting firms have found new or suddenly faster-growing industries and professions to create specific niches to focus on to offer client accounting services. this strategy doubles the leverage for firms:<\/p>\n