3 min read

Make Profitable Client Accounting Services Your 2021 New Year's Resolution

By Staff on 1/11/21 9:00 AM

This post contains highlights from a December 08, 2020 webinar discussing the bottlenecks that hinder growth in Client Accounting Services (CAS), and what steps are necessary to create more capacity to focus on the growth of your CAS offerings.

Topics: Technology XCM Spotlight Client Accounting Advisory Services Outsourcing Remote Staff
3 min read

The Myths and Facts About International Tax Outsourcing Part 2

By Ray Barlow on 1/7/21 9:00 AM

Welcome back to the myths of international tax outsourcing! If you missed the first installment, click here to read it, and keep reading to learn about some of the most common international tax outsourcing myths, as well as how to handle the 7216 conversation with clients. Let’s dive right back in!

Topics: Outsourcing Tax Tax Outsourcing
5 min read

2020 in Review: Popular Content

By Hillarie Diaz, CPA on 12/28/20 9:00 AM

As 2020 comes to a close, we’ve rounded up highlights from this past year our partners and customers have found particularly useful throughout 2020. Also, keep an eye out for upcoming webinars to help set you up for success in the New Year.

Topics: Technology Your People Growth XCM Spotlight Industry Client Accounting Advisory Services Outsourcing Remote Staff Career Coach Mentorship Workflow & Productivity Enablement Tax Employee Engagement Productivity Enablement COVID-19 Tax Season 2019 Customer Service Tax Outsourcing Workflow 101
4 min read

3 Ways to Position your CAS Practice for Sustainable Growth

By Michelle Voyer, CPA, MBA on 12/21/20 9:00 AM

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?

Topics: Growth Client Accounting Advisory Services Outsourcing
4 min read

4 Ways to Combat Slow Growth in your CAS Practice

By Michelle Voyer, CPA, MBA on 11/23/20 9:00 AM

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.

Topics: Growth Client Accounting Advisory Services Outsourcing Cloud Technology Client Services
6 min read

8 Questions You Need to Ask When Interviewing Tax Outsourcing Providers

By Ray Barlow on 10/15/20 9:00 AM

Several months ago, firms – and exhausted tax staff – celebrated the end of an extended busy season. However, celebrations may have been a little muted. Many immediately turned their eyes towards extension season and beyond to the looming 2020 busy season. 

As the 2020 tax season begins to ramp up, and Managers and Partners continue to hold tax strategy meetings, the value of utilizing tax outsourcing services often comes up, and with good reason. Firms who utilize tax outsourcing services see an average increase of 8-15% in returns completed during tax season (based on an analysis of firms utilizing XCMworkflow®).

Topics: Growth XCM Spotlight Outsourcing Remote Staff Tax Outsourcing
3 min read

4 Things You Need to Consider When Creating a Tax Outsourcing Strategy

By Ray Barlow on 10/5/20 9:00 AM

Having a successful partnership between the firm and its tax outsourcing partner takes more than just luck. It takes preparation and planning, even before the firm starts interviewing potential tax outsourcing companies. For those firms considering tax outsourcing services as part of their strategy, a tax outsourcing-specific plan should be made, as well.

Topics: Technology Growth Outsourcing Tax Tax Outsourcing Success Tax Outsourcing
5 min read

Tax Outsourcing Update: Lessons Learned During a Unique Season

By Ray Barlow on 5/18/20 9:00 AM

In reaction to the rapid spread of COVID-19, on March 24th, the Indian government passed mandated stay-at-home legislation for private businesses. For many tax outsourcing organizations, this meant temporarily pausing operations. A few outsourcing partners, like Xpitax, were able to implement business continuity plans and maintain security while operating in a reduced, work-from-home capacity.

Topics: Industry Outsourcing Tax featured COVID-19 Tax Season 2019 Tax Outsourcing
8 min read

Turn Annual Engagement into Recurring Revenue

By Michelle Voyer, CPA, MBA on 2/17/20 9:00 AM

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.

Topics: Growth Client Accounting Advisory Services Outsourcing Remote Staff Workflow & Productivity Enablement featured
5 min read

4 Ways to Increase Your Tax Outsourcing Effectiveness

By Ray Barlow on 2/17/20 9:00 AM

Tax outsourcing has come a long way from its nascent beginnings back in the early 2000s. We know that tax outsourcing works - firms that outsource complete anywhere from 8-15% more returns during tax season than those who do not (based on an analysis of firms utilizing XCMworkflow).

Putting it into perspective, for a firm used to a max capacity of 2,500 returns during tax season, with outsourcing, that firm could process an additional 200-375 returns. How do you think an increase in capacity would affect the firm's bottom line and its ability to meet or exceed client expectations?

Topics: XCM Spotlight Outsourcing Workflow & Productivity Enablement Tax Tax Outsourcing