Challenges to implementing a CAS Practice
While Client Advisory Services (CAS) offer significant revenue opportunities, there are challenges to a successful implementation.
Only about 15% of firms say they are “very satisfied” with the financial and operational performance of their client accounting services, and 40 percent are merely “satisfied.”
Many firms are trying a mix of strategies to sort out the new service line pricing.
- 32% of firms are billing by the hour,
- 28% are experimenting with value-pricing,
- 43% are charging flat rates or fixed fees, a
- 36% are trying a mix of pricing strategies.
Many firms follow traditional marketing techniques to develop CAS business.
- 50% – proactively seeking referrals
- 48% – relying on their websites
- 35% – using old-fashioned networking for new business
- 15% – investing in SEO
- 12% – going to social media and influencers
- 11% – developing content marketing and thought-leadership campaigns
- 8% – “assigned a specific person” to take the lead
What challenges has your firm faced in implementing your CAS practice?
Next: Ideas to help boost your CAS practice
Yann is Accsurant’s president. With 20 years experience and six different technology startups behind him, Yann has a proven track record in developing innovative solutions based on his technology and financial acumen.