Twelve causes to repair ASAP.
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: Price by Outcome, Not Time Spent | Want Higher Profitability? Turn to CAS | Structure Insights as What-Why-What | Set Your Processes Apart in Nine Steps | Five Ways to Overcome CAS Staffing Challenges | Think CAS Isn’t for Your Firm? | Convince Your Firm of CAS Value
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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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