In a previous post, we discussed how to combat sluggish growth in your Client Accounting Services (CAS) practice. But what if, rather than sluggish growth, your firm is experiencing explosive growth? How do you capitalize on success while maintaining quality and profit levels?
Recent posts by Michelle Voyer, CPA, MBA
4 min read
4 min read
We know all of the stats about how Client Accounting Services (CAS) practices are the fastest-growing service lines in accounting. A CAS practice's average growth rate is 12-15% per year, but what if your firms' CAS practice isn't performing to expectations? If your existing CAS practice isn't measuring up to industry benchmarks, it's time to dig into the factors affecting its growth. Start simple - go back to basics and assess the business plan. Don't take anything for granted; question each of the underlying assumptions the firm made during the planning process.
5 min read
Have there been discussions in the firm about adding Client Accounting Services (CAS) to its offerings, with only lukewarm interest from senior management and partners? Is your existing CAS group running into a lack of support?
8 min read
What if there was a way to take the clients that cause the most substantial amount of tax season workload compression, and turn that into streamlined, recurring revenue for the firm?
The best part about that strategy is that every firm already has an existing client pool to capitalize on. These are not clients with pristine books. No, these clients send over files at the end of the year with missing data, or drop off boxes of receipts, invoices, and who knows what else, and it becomes the firm's responsibility to sort through the irrelevant, analyze the data, and prepare the return. Then, after receiving their return (and paying the bill), the client disappears – only to repeat the cycle next year.