Friday, December 16th, 2016
Client Accounting Services (CAS)
“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” – Steve Jobs
Have you expanded and branded the CAS you are offering to clients? Many firms are finding this area to be a rapidly growing source of revenue.
The percentage of net client fees provided by CAS, which includes outsourced finance and accounting services and other back-office support for clients, more than doubled for firms in the largest revenue segment tracked by the 2016 National Management of an Accounting Practice Survey.
Client Accounting Services is no longer just a small firm revenue source.
Mark Koziel, the AICPA executive vice president-Firm Services, credits automation and other technologies with helping to fuel the growth of client accounting services.
I find that many firms are doing a great job of branding the service and making clients aware of the benefits of outsourcing this type of work (which they usually hate doing themselves). For businesses, including CPA firms, it’s becoming an outsourced world.
Read the full article from The Journal of Accountancy, written by Jeff Drew, senior editor.
- "The secret of joy in work is contained in one word - excellence. To know how to do something well is to enjoy it."