Identifying the Right Clients for CAS

An organization chart in a ball shapeShow your highest-priced package first.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Will your existing clients or prospects buy higher-priced and more services from you? If you ask them to, will they feel put off?

MORE: Communicating CAS to Clients and Prospects | 21 Ways to Adjust Your Practice in 2021 | The Services That CAS Clients Want | Six Reasons CAS Is King | How to Develop the CAS Mindset
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If you do not ask, will you leave real money on the table? If you do not tell them about more services your firm is capable of providing, will they switch to another accounting firm simply because they were not aware of your other services?
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Communicating CAS to Clients and Prospects

Senior businessman and another businessman talkingShow them what they’ll be missing if they say no.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

When you pitch CAS to your existing clients and new prospects, your communication and messaging changes quite a lot. It is no more packages, hourly rates and standard deliverables mentioned on your website and in your emails, engagement letters and sales brochures/materials.

MORE: 21 Ways to Adjust Your Practice in 2021 | CAS Is, First, a Communication Challenge | Which of Your Existing Clients Are CAS-fit? | The Services That CAS Clients Need | Who’s Afraid of Client Accounting Services? | The Right Mindset for Client Accounting Services
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Communicating CAS to Your Existing Clients

CAS is NOT a sales pitch to your existing clients. It is a value pitch, an upgrade pitch.
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21 Ways to Adjust Your Practice in 2021

Calendar pages turning2020 is over. Now what?

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Did you feel the distinct feeling of one year ending and the next year starting? Not from the calendar change point of view, but that psychological feeling that you generally get when a year is over? If not, don’t worry; you may not be alone.

MORE: How to Communicate the Value of CAS | How to Become an Outsourced/Virtual CFO | The Services That CAS Clients Want | Six Reasons CAS Is King | How to Develop the CAS Mindset
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It is natural to feel that the 2020 experience will continue, at least for some time in 2021. It is not unusual if you feel uncertain for now. It is okay to think that you cannot estimate when things will start turning around for the better.
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CAS Is, First, a Communication Challenge

Businessman explaining something on laptop to another manAre your clients happy? Have you told your staff?

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Unless you become the “CAS champion” or make someone accountable to be one, your CAS practice will not take off the starting blocks.

MORE: 21 Ways to Adjust Your Practice in 2021 | How to Communicate the Value of CAS | Don’t Wear a Mask | The 8-Step Method for Launching Client Accounting Services | What CAS Is … and Is Not
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And the single biggest initial challenge for the CAS champ is how to communicate the value of CAS to the firm’s future fortune to every stakeholder – be it partners, staff, clients or prospects. For this post, I will assume that your CAS champ absolutely “gets it.”
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How to Communicate the Value of CAS

How about 75% lower costs?

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

In the desktop days, write-up, bookkeeping and accounting processes were perceived more as data entry work. The price clients were willing to pay for data entry put so much pressure on fees that many firms found it was not worth the hassle.

MORE: How to Become an Outsourced/Virtual CFO | Which of Your Existing Clients Are CAS-fit? | The Services That CAS Clients Need | Who’s Afraid of Client Accounting Services? | The Right Mindset for Client Accounting Services
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Other services such as tax preparation, financial statements preparation, etc. brought in higher per-hour dollars than write-up, bookkeeping and accounting work could. Such work got more and more “outsourced” by accounting firms to bookkeeping firms, freelancer bookkeepers and “processing” firms operated by non-CPAs/non-accountants.
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How to Become an Outsourced/Virtual CFO

notepad with word "hire" crossed out and "outsource" written in underneathAnd how CAS drives up the demand.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Tom, a CPA, has always been a curious person. For over 15 years, his tax practice was doing well. During the tax season, he had no time to think. But, oblivious to himself, with each tax return, he was depositing new questions in his subconscious.

MORE: Which of Your Existing Clients Are CAS-fit? | Don’t Wear a Mask | The 8-Step Method for Launching Client Accounting Services | What CAS Is … and Is Not | Client Accounting Services: The Definitive Guide
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He is now a shared CFO of 12 companies. But he took up the CFO work accidentally.

How?
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Which of Your Existing Clients Are CAS-fit?

a businessman with some jigsaw puzzle pieces in his handThere is a massive return on your one-time investment in identifying such people.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

The experience of those offering successful client accounting services shows that the fastest way to start your CAS practice is to provide it to some of your existing clients. If you already have a CAS practice, it is important to periodically analyze which of your clients have now become a CAS fit. It is important to note that not all of your clients will be CAS-fit.

MORE: Don’t Wear a Mask | The Services That CAS Clients Want | Six Reasons CAS Is King | How to Develop the CAS Mindset
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There are some easy ways to identify which of your existing clients are CAS-fit, i.e., which of your clients will benefit the most from your CAS offering. And then there are some not-so-easy ways to know which are your CAS-fit clients.
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Don’t Wear a Mask

How to show clients your true value.

By Hitendra Patil
Client Accounting Services

So, the CDC has indicated that a mask also protects the person who wears it. Previously, it was advised that masks stop people from spreading the coronavirus to others.

MORE: The Services That CAS Clients Want | The Services That CAS Clients Need | The 8-Step Method for Launching Client Accounting Services | Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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But this post is not about coronavirus and masks. When it comes to accounting and the advisory insights hidden in the financial statements and numbers, covering those with a mask is not good for either the clients or the accountants.
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The Services That CAS Clients Want

Happy businessman using smartphone at officePlus six more general human wants to consider.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

What some clients feel is an absolute need, others may feel is not so.

People may need to book an Uber or Lyft ride, but some of them may want a premium ride.

MORE: The Services That CAS Clients Need | The 8-Step Method for Launching Client Accounting Services | Six Reasons CAS Is King | Who’s Afraid of Client Accounting Services? | What CAS Is … and Is Not | How to Develop the CAS Mindset | The Right Mindset for Client Accounting Services | Client Accounting Services: The Definitive Guide
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Some of your CAS will be the premium ride some your clients will want. And – don’t be surprised – for some clients, your premium services will be the need (you want such clients).
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