Client Advisory Services (CAS) practices have been leading the way in growth for CPA firms for several years now. Initial data from CPA.com’s 2020 Client Advisory Services (CAS) Benchmark Survey (launching later this fall) further underscores this point: CAS practices reported a median growth rate of 20% last year and are showing significantly stronger performance than other practice areas.
With growth like that, it’s no wonder CAS is getting a lot of attention. Within CAS practices, one of the fastest growing areas is Financial Planning & Analysis (FP&A). New, all-in-one software tools such as Jirav are helping CAS practitioners take forecasting, budgeting, and other planning and analysis activities out of Excel, enabling them to seamlessly integrate and extract data from the general ledger and other systems such as payroll and customer relationship management.
Your firm may already be employing such tools and processes, or you may still be using Excel for advanced and complex forecasting and budgeting and are struggling with its limitations.
Regardless of where your firm is in your CAS journey, there’s an opportunity to deliver greater value to clients through agile forecasting and budgeting — the pandemic has made this need obvious. As firms move to meet this new demand, a key challenge will be recruiting and training talent. For CAS and FP&A, appropriately skilled talent is critical to long term success... read more
by Phil Quimby
Product Marketing Manager – CAS,