CAS

CAS Can Play a Critical Role in Clients’ Vendor Selection

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The needed skills are already part of the accountant’s skill set; they just need to be applied outside of the finance function. 

By Donny C. Shimamoto, CPA, CITP, CGMA
Center for Accounting Transformation

Historically, vendor selection has been primarily driven by operations or IT teams. However, recent research by the Chief Executive Group for the CFO Leadership Council shows that Finance Teams play a critical role in vendor selection. Forward-thinking CAS teams should take a cue from these Finance Teams and broaden their service offerings to help clients be more successful. 

MORE Donny Shimamoto, CPA.CITP, CGMA | MORE CAS | MORE CFO Services

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How Finance Teams Support Vendor Selection 

As shown in Figure 1 below, more than 7 of 10 Finance Teams are involved in the final selection of vendors and products. Many people often see Finance’s involvement as just the final stamp of approval, but the research clearly shows that Finance Teams are involved throughout the purchasing process. 

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Eight Steps to Putting Back Office Support into Place

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three young people talking in an office

Includes details for the Client Operations Manual.

By Penny Breslin
It’s Not Just the Numbers

Moving from compliance to reliance services is not an easy task. If you are feeling a bit overwhelmed at this point, that’s okay. However, the joy of offering back office support (BOS) services and working closely with clients to help them meet their goals is well worth the effort. Having a strong team, clear procedures and technology that works for you are the building blocks that allow you to succeed in this endeavor.

MORE: After You Check Your Cybersecurity, Help Others | Cover These Five Areas of Information Security | Three Examples: Pricing Your BOS Value Add | Use Timesheets for Productivity, Not Billing | Revisit Your Back Office Support Procedures | Federated Search: What It Is, Why It Matters | Accounting Tech Tools to Minimize Your Pain | Do Your Apps Play Well with Others? | It’s OK to Have Favorite Clients | Ten Questions for Teamwork | Yes, You Can Be an Outsourcer
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The next layer is the clients – meeting with them, working with them and setting up the procedures to ensure that you are truly their advisor. When you carefully select your clients, take the time to understand their needs and goals, and hold them to a paperless work environment, both your team and clients will reap the rewards.
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After You Check Your Cybersecurity, Help Others

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Make it a client service option.

By Penny Breslin
It’s Not Just the Numbers

In 2020, like many businesses, we went remote. My remote team of excellent ladies in Chennai, India, had to go even more remote than they already were. When India shut down, I figured I was out of business. We promise our cybersecurity is job number one to our accounting and financial firms. We have a highly controlled work environment, except for the day care and under 3’s occasionally looking for Mum. I did not think sending our employees home would work.

MORE: Cover These Five Areas of Information Security | Let Tech Make Communication Easier | How to Assess Needs for a Client Proposal | Best Practices for Source Doc Permissions and Handling | Every Back Office Support Client Needs a Playbook | Creating a Back Office Support Playbook | Strengthen Client Ties with Workflow Tools | Understand Your Online Marketing Options | Narrow Your Prospects by Choosing a Vertical | Build Your Team, Then Choose Your Clients | How Back Office Support Adds Value | AI Is Not Your Enemy
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But thank the universe, many of our clients had no problem as long as we could figure out the security. They had been working with the same team of ladies. They saw them on Zoom and communicated daily on Slack. So, in 48 hours we went through an internal change to allow that to happen.
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Cover These Five Areas of Information Security

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How to thoroughly safeguard client information.

By Penny Breslin
It’s Not Just the Numbers

Your clients trust you with their information; however, in today’s world, where sensitive information can be compromised and distributed, clients want assurance that their information is safe and that you are protecting them from identity theft.

MORE: Let Tech Make Communication Easier | How to Craft a Service Level Agreement | How to Maximize On-Site Client Meetings | Sixteen Guidelines for Naming Conventions | You Have to Manage Three Kinds of Procedures | Tech Tips for Back Office Support | Decoding Accounting Tech (and All Those Acronyms) | Digital Marketing Strategies Level the Playing Field | Eight Tasks to Delegate Today
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Although certain state laws (check with your state); federal laws such as Gramm-Leach-Bliley (GLB), which covers individual privacy disclosures; and the AICPA rules of ethics do provide some protection, we recommend that as the trusted business advisor, you should disclose to your clients how you:

  • Safeguard their information in your office and on your servers
  • Securely transmit sensitive data
  • Closely supervise access to authorized parties only

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Let Tech Make Communication Easier

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man seated at laptop talking on phone

How to create effective systems.

By Penny Breslin
It’s Not Just the Numbers

Open and clear communication is essential when you provide back office support (BOS) services. You cannot take on this type of work and not stay on top of it. Previous examples have shown what happens when you do it right. Here’s what happens when you don’t.

MORE: How to Craft a Service Level Agreement | Three Examples: Pricing Your BOS Value Add | Use Timesheets for Productivity, Not Billing | Revisit Your Back Office Support Procedures | Federated Search: What It Is, Why It Matters | Accounting Tech Tools to Minimize Your Pain | Do Your Apps Play Well with Others? | It’s OK to Have Favorite Clients | Ten Questions for Teamwork | Yes, You Can Be an Outsourcer
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Case Study: When You Don’t Keep Up Your Side of the Agreement

A CPA wanting to provide BOS services to his clients contacted us to help with the first setup. The software of choice by the business owner was QuickBooks.
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