Figure out which clients make you less money and why.
By Hitendra Patil
Client Accounting Services: The Definitive Success Guide
We discussed that you need to explain the why of your client accounting services pricing. A price is a measurable number. “Value” of each of your CAS component also needs to be reasonably measurable for your clients and prospects to understand the why. This is easier said than done, and you need to keep rewriting the value statements, testing them and revising them.
MORE: How to Set Your Firm’s CAS Pricing | The Top CAS Pricing Strategies | How to Choose Your CAS Processes | Nine Ways to Measure Client Experience | Twelve Clues It’s Time to Outsource or Offshore | Yes, You Have the Staffing for CAS | Why Firms Shy Away from CAS
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The best way to define the measurable value of each of your CAS components is to state it from the client’s perspective, i.e., which business decisions the client can make based on the information/insight/intelligence you provide in a given CAS component, and under which circumstances. Then state the measurable impact of such business decisions. E.g., “On an average, we help our clients reduce money stuck in inventory by 11 percent, which in many cases results in lower overdraft interest costs by about 1.3 percent annually.” Without the numbers in your value statements, clients can feel you are pitching marketing fluff.
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