On May 28, 2015, Accounting Today and Taxpro Today featured speaker Samantha Mansfield, Director of Communications at CPA.com in their webinar “Client Accounting Service: A Primer”. Sponsored by Citrix ShareFile, Receipt Bank, and Xero, this webinar discussed invaluable information for users including best practices and key methods for accounting firms and their clients.

Included within this webinar are outlines of industry-wide standards and recommended accounting practices. In addition, speaker Samantha Mansfield also discusses the value of CAS, or client accounting services, for firms and their clients. Touching on many important issues including but not limited to value propositions, increased efficiency, superior accuracy development, this complimentary web seminar provides firms with the knowledge and tools they need to succeed, particularly when it comes to client accounting services.


Your Pathway to Client Accounting Services Success

As noted in the webinar, client accounting services are intended to make the lives of firms and their clients easier. Praised by accountants and clients alike, effective CAS can provide tremendous value, far more than traditional accounting services alone. Designed to create deeper, more profitable relationships with clients based on the provision of value enhancing advice and real-time deliverable results, CAS is key to many firm’s successful operations. But in order to achieve this success, firms must consider their pathway to client accounting service.


What is Your Firm Providing?

Before making or initiating any major plans, firms must define what they’re providing. It is important for firms to determine the value that client accounting service will provide for them and their clients early on. In addition, firms are also encouraged to define exactly how they will effectively harness this power.


Why Integrate CAS?

Firms will also need to define the why–why are they integrating CAS? For most firms, it’s to increase efficiency and to streamline operations. Always be sure to communicate this value proposition with clients. Firms are advised to not be hesitant when it comes to showing clients how CAS provides them with real value. Ideally, it is recommended for a firm’s “why” statements to tie in heavily with value statements for maximum efficiency.


Where to Find Resources

In order to successfully implement CAS, firms must also leverage effective resources. One such solution is the cloud. Firms are encouraged to put the cloud to work for both internal and external operations. Ideally, it is in a firm’s best interest to leverage accounting software such as QuickBooks that can easily integrate with eFileCabinet’s Document Management Solution, resulting in a fully-integrated and comprehensive system that can be leveraged for firm and client advantage.


When is it Best to Adopt?

When is the best time to invest in adopting client accounting services for firms? As noted by speaker Samantha Mansfield, the sooner the better. Changes are coming to the accounting world quickly. Nearly all facets of operation have evolved, from billing practices to client relationship management. These changes are occurring rapidly. It’s recommended that firms respond quickly to these changes for maximum efficiency, both for the sake of their clients and the effectiveness of their own operations.


Recommendations for Going Forward

In addition to providing a clear pathway toward accounting client services integration, this noteworthy webinar also presented several key tactics for enhancing firm success.


Define Your Value Proposition

Early on, it is in a firm’s best interest to define a value proposition for clients. It’s suggested that firms work to effectively communicate the value of CAS differently than how traditional services may have been conveyed in the past. After all, client accounting services are able to provide far more value than traditional accounting services. Much of a firm’s success with CAS relies on their ability to effectively communicate this added value proposition to their clients.


Acknowledge Driving Forces

Another key takeaway for firms is the importance of acknowledging relevant driving forces. Firms are encouraged to determine what trends are influencing their processes as well as their clients’. In doing so, firms will gain added clarity and will find integration to be a far more smooth process.


Leverage Appropriate Resources & Tools

Most importantly, once firms have assessed their needs it is crucial that they select the most efficient resources and tools to fulfill those needs. As noted, there are a number of tools available at a firm’s disposal that can enable them to leverage the advantages CAS brings for maximum benefit and impact. In addition, firms are advised to add or revise tools as necessary to better suit their needs.


Did you know that eFileCabinet’s Management System for Records (MSR) has been recognized as one of the most effective tools for accounting firms looking to integrate client accounting services? Providing regulation compliance and equipped with the ability to integrate seamlessly with your current accounting software, MSR can provide your firm with the retention and storage services it needs. Streamlining your operations while also making them more secure and accessible, eFileCabinet provides superior document management solutions for firms of all sizes.

Want to learn more about our document and record management solutions? If so, be sure to Request a 15-Minute Demo and within seconds we’ll have a delivered demo ready and waiting in your inbox.