As an accounting professional, you’re in a unique position to advise your clients — and that’s why CAS, or client advisory services, make so much sense as a method for scaling your firm. Shifting to a more proactive advisory role, as opposed to traditional compliance services, can help you build strong, long-lasting relationships with clients… and keep the income flowing as shorter, limited engagements do not bind you. 

So what technically is CAS? CAS encompasses a variety of financial advisory services, including tax planning, budgeting, and virtual CFO services. And in a competitive industry, it’s a great way to stand out 

Building a Strong CAS Foundation

In order to create a scalable CAS model, you’ll need to start strong. The first step is taking inventory of your firm’s current service offerings. Where can you stand to grow through advisory services? Take a look at your current client list as well to ascertain what clients would benefit from CAS. 

Additionally, investing in the right technology for your firm is essential in maintaining effective communication with your clients. Standardizing your processes through written checklists is also key for scalability. The larger your firm grows, after all, the more necessary it is to ensure that work is completed to the same standard across the board. Lastly, effective CAS practices are not possible without specialized, skilled teams. You may need to prioritize training or bring on new staff. 

Enhancing Client Relationships

Advisory services are built on trust. To transition existing accounting clients to CAS or attract new clients, you’ll need to communicate that your firm is trustworthy, adaptable, and capable of providing the guidance businesses are looking for. In order to be successful in this area, you’ll need to be proactive. The goal is to understand your clients well enough that you can anticipate their needs. 

Best Practices for Scaling Your Firm 

Because advisory services are dependent on client needs, transitioning to a value-based pricing model can help you ensure that you are being properly rewarded for the amount of work that you’re doing. You may also want to consider advisory packages that you can market to clients. 

As your business needs develop along with your advisory service model, your team will also need to adapt. A great way to prioritize growth is through utilizing the skilled individuals already at your disposal. Invest in knowledge capital so that your team can be equipped to handle advanced advisory tasks. 

To ensure that your clients are satisfied and stick with your business, try dipping your toes into automation for more standardized communication. As far as technology goes, client portals and cloud-based collaboration tools can also go a long way in making your clients’ lives easier. 

When it comes to CAS, the procedure is everything. Check out our other blog here on building procedures into your CAS practice!