7-Minute Presentation Client Advisory Services (CAS) Roadmap Workshop Sample Slide Deck Instructions: Use these slides as a starting point to build visual support for your 7 Minute Presentations to key stakeholders, staff or clients. What
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Instructions: Use these slides as a starting point to build visual support for your 7 Minute Presentations to key stakeholders, staff or clients.<br>
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What is CAS? CAS, as defined by AICPA and CPA.com, is client advisory services. A CAS practice helps clients outsource their accounting needs with services spanning a spectrum of accounting, financial, and advisory-related offerings.
The vision of CAS is to provide higher value to clients and deepen the trusted business advisor relationship, allowing clients to focus on their core competencies and deliver on their value proposition to customers.
A firm’s CAS offerings are enabled by people, processes, and technology that harnesses data and provides clients with deeper business insights to inform strategy and decision-making. While compliance and operational services are foundational to CAS, continuous business planning and advisory discussions supported by financial and non-financial data delivered through industry-specific KPIs are fundamental to delivering an elevated level of service and sustained success.<br>
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Evolving Client Needs – What Clients Want https://www.accountingtoday.com/list/a-small-business-barometer-for-2019 Why SMBs leave accountants:
#1 Does not give proactive advice, only reactive<br>
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Selling the Value<br>
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Selling the Value Our services are bundled into a “menu” of options
Our monthly fees are fixed (with periodic reviews and adjustments)
Fees are prepaid at least monthly (weekly in most cases) via electronic draft to a bank account or credit card<br>
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Client Advisory Services Opportunities Service Spectrum<br>
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CPA.com CAS Service Maturity Model<br>
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New CAS Model Evaluate existing accounting clients
Do they fit the new model? Evaluate current staff
Are they a fit for the new model?<br>
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Re-imagine the service offerings Reassess pricing Reconsider the deliverables Match services to staff Update client communications Expand client collaboration Re-evaluate service offerings<br>
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Staff The most successful CAS firms do not share staff from other departments (tax, audit, etc.)
Your CAS team members need to be experts in the selected client vertical area, ESPECIALLY if you will be providing CFO services
Your team will be working with clients 12 months out of the year – your clients will suffer if your CAS staff is also responsible for tax return preparations and audits<br>
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Future State: CAS Staffing<br>
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Getting Vertical through the Cloud Business Intelligence Reporting Real-Time Client Collaboration Standardized Workflows Client Accounting Capabilities driven by Cloud Computing Construction
Family office
Health care facilities
Manufacturing
Non-profits
Professional services
Real estate
Restaurants
Retail trade
Technology
Source: 2020 CAS Benchmark Survey Most Popular CAS Client Verticals<br>
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Cloud Technology is Key Design the workflow that supports the advisory services you want to provide to your ideal clients and select the technology to support it.
Consider
Reduce manual data entry
Eliminate duplicate data entry
Encourage collaboration with clients
Minimize the practice’s tech stack
Allow for scalability as the practice grows
Setting up the proper outsourced technology infrastructure allows your team to increase its focus on higher value advisory level client work.<br>
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Client onboarding<br>
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Client Assessment - Multiple Benefits The Client Assessment can be used in different ways, each with tremendous benefits.
Critical tool when evaluating a prospect helps ensure:
Taking on only the “right-fit” clients for your firm
Estimating and pricing the engagement accurately
Avoiding potential risk areas
Performed before ongoing accounting and advisory services even begin
Ensures accuracy of price
On-site evaluation to observe culture, behaviors, systems
Can be used for ongoing evaluation, year after year Helps Client…
Implement the improvements discovered through Client Assessment Engagement<br>
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Current A/P Process – Vendor Invoices Client Assessment Your firm should utilize a business process modeling tool for a professional output as shown in the example.
Enables your firm to identify the client’s operational inefficiencies and develop their “upside” potential by outsourcing certain processes to your firm.
The processes your firm will be examining and the ability to schedule with the owners of those processes determines the length of time a client assessment can take.<br>
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New A/P Process Vendor Issues Invoices for Goods/Services Invoice Received at A/P Processing Center Invoice Scanned to Bill.com Invoice entered into Bill.com Disbursement Issued Check clears and the bank or e-payment reference number noted in system Invoice approved by the Site Manager for Payment Invoice approved by finance for Payment Recommended Vendor Invoice Processing A/P Vendor Client Site Manager Asst. Controller Review New Workflow<br>
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Short-Term CFO / Technology Consulting Clients are not all built the same, with the same needs
Leverage short-term engagements as an opportunity to grow your services with a client
Short-term engagements should still fit into your overall business model<br>
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Ongoing Services Ongoing services are the bread & butter of a CAS practice Monthly client advisory services can be offered as packages: bronze, silver, gold priced to fit most budgets
Collect fees before the services are provided
Develop deep knowledge in the verticals we intend to focus on, and construct industry specific KPIs<br>
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Guiding your CAS journey Innovate and consider future state CAS offerings
Dedicate staff to CAS
Benchmark net client fees per professional (NCFPP)
Pilot changes in pricing and billing
Leverage efficiencies and transform processes with technology
Identify ideal target clients and client industries
Secure leadership buy-in and manage the change<br>
