The webinar focuses on the transformation of client accounting services through cloud technology, highlighting the evolving needs of small to medium-sized businesses (SMBs) for proactive advisory services and integrated solutions. It addresses challenges firms face in adapting to new technologies, the importance of distinguishing services beyond traditional accounting roles, and strategies for effectively presenting these changes to both staff and clients. Participants are encouraged to develop a strategic business plan to leverage these opportunities and enhance client relationships, ultimately driving profitability in their practices.

1. OvercomingRoadblocksinCreatinga
NextGenerationAccountingPractice
A Special CPA.com Webinar
September 23, 2015

2. Introductions
Deneen Dias
Strategic Account Manager, CPA.com
6 years working with firms on ways to utilize cloud
technology to transform their client accounting practice
Helps hundreds of firms evaluate, implement, and
leverage technology to improve internal processes as
well as enhance their client relationship
Consults with firms on ways to add new revenue
streams from new services lines including Business
Process Outsourcing (BPO), and real time advisory
services
Brings 10 years of experience working with firms of all
sizes

3. Empowering CPA’s and businesses for the
Digital Age
CPA.com is a subsidiary of the AICPA

4. PRODUCTS & SERVICES
PARTNER SOLUTIONS
EDUCATION & RESOURCES
MEDIA CENTER

5. Dixie McCurley
Trusted CFO Solutions, Co-founder & Partner
Headquartered in Atlanta, GA (14 Staff)
Certified Intacct® BPO Partner & Bill.com
QuickBooks ProAdvisor, Member of Mindshop
International
Nationally recognized thought leader in cloud-based
accounting.
As a self-proclaimed “foodie”, Dixie spends her free
time dining at the hundreds of restaurants Atlanta has
to offer.
Introductions

6. Agenda
The Opportunity
Client Accounting Services
Firm Pain Points
Business Planning
Managing Change
Next Steps

7. Disruptive Technology has changed our LIVES
Consumer Market Is Well Ahead of Business Market Related To
Leveraging Cloud Computing
BUT BUSINESS MARKET IS CATCHING UP!

8. Disruptive Technology has Changed the Taxi
Business

9. 9

10. Dr. James Canton Believes
Technology
is so disruptive for the
profession THAT…
tax returns and compilations
will one day be FREE?

11. EVOVLING CLIENT NEEDS - What Clients Want
Top 3 for How SMBs Selected Accountant
o Expertise
o Responsiveness
o Proactive Strategic Advice
Top 3 for Services Desired Outside of Services
Already Received:
o Business planning
o Business strategy
o Create Dashboards to monitor business
*The Sleeter Group research published April 9th, 2014
http://www.sleeter.com/blog/2014/04/smbs-want-accountant-2014-update/
Why SMBs leave
accountants:
#1 Does not give
proactive advice,
only reactive

12. Client Accounting Services
Outsourced accounting has undergone a great deal of change
over the years driven by:
o Demands of businesses
o Emergence of leading cloud technologies
1990
2000
Today
Today’s
opportunity
 Cloud-based
 Integrated
 Paperless
 Dashboards
 Real-timeSmall businesses push
work back to firms to
focus more on their
business
Role of firms reduced
QuickBooks introduced
to small businesses

13. Firm Value Chain
Input Data
Assemble
& Verify
Report
Analyze &
Interpret
Advise &
Consult
Higher Value
& Future Focus
Lower Value &
Historical Focus

14. Client Accounting Services
What it’s Not:
o Bookkeeping
o Write Up
o After the fact reporting
Covers a variety of services, including:
o Financial Statement Preparation
o General Ledger/Trial Balance
o Cash Flow Management
o Payroll Preparation & Reporting
o Accounts Payable and Receivable
o Transaction Processing (BPO)
o Virtual CFO Services
o Controllership
o Business Advisory

15. Client
Accounting
Services
• Firm typically has 25-200 clients
• Clients have $1 - 5 Million
annual revenue
Firms are charging value-add bundled retainer fees
for these services – $1,500 - $5,000 / mo.
Most Common Services:
• Financial Statement Preparation
• General Ledger/Trial Balance
• Payroll Reporting
• Cash Flow Management
• Payroll Preparation
• Transaction Processing (BPO)
• Virtual CFO Services
Majority of Outsourced Accounting
clients have between 5-25
employees
CPA Firm Client Accounting Services Profile

16. Making It Your Own
Opportunity to differentiate your services
Determining the services you want to offer
Clients you want to provide those services
for
Elevate your role as a trusted advisor
It’s easier to be different then better to
stand out!

17. Growth Opportunities
Opportunity to not only grow profits, but also grow the
relationships with your clients
Additional services that extend well beyond the periodic delivery of
reports and financial statements
Firms that offer outsourced accounting are providing services
throughout the year and building stronger and longer-term
relationships with clients

18. Accounting Services Today
The Opportunity
o Ride the wave of demand for outsourcing
o Leverage cloud technology to achieve productivity

19. Challenges Firms Face
Resistance to change
Lack of understanding of the new client accounting services and
the need for it
Lack of proper resources and time
Implementing technology before putting together a business plan
and strategy
Accommodating needs of any client
Unsure how to position these services to clients

20. Managing Transitions
“Managing Transitions” by William Bridges

21. Common Objections from Firm Leadership
1. We already provide consulting services for clients – how is this different?
2. How can we make money at this when write-up has been such a loss
leader?
3. If I am a tax or audit partner – why do I care about this?
4. As a firm we bill by the hour and on terms – how can we change from
that?
5. Everyone in the firm is already swamped. How can we possibly take this
on right now?
6. What are the key measures for success for this division?
7. Can we use staff from tax, audit and other departments for this?
8. How are we going to move to the cloud?

22. Common Objections from Firm Staff
1. I am already buried in work – how are you going to make room in my
schedule for this?
2. Already doing bookkeeping for clients – how is this different?
3. How will my performance be measured?
4. What is my training plan?
5. What is my path for advancement (partner path) in this new area?
6. What are the advantages to our firm doing this?
7. How will clients communicate with me?
8. How will I know if a client is going “out of scope?”

23. Common Client/Prospect Objections
1. Why would I use your services vs. hiring someone in- house?
2. If you are keeping all of my records, what happens if your firm closes or
something else happens, or if I decide to change firms?
3. How do I know my data is secure?
4. If remote, how will I reach my accountant?
5. Why do I have to pay you in advance each week (or month)?
6. What will I get from you every week, month, etc. as part of my services?
7. If my services with you are supposed to be “fixed fee,” why are you
asking me for an additional amount for “service orders?”

24. Where to Begin: Starts with a Business Plan
3 Key Strategic Decision Points
o Determine current and desired state of your client accounting service practice
o Identify technology investments appropriate to stages of transition underway
o Organize change management around specific business practice
transformations and technology deployments
Establish goals
Determine target clients - What vertical niche(s) will you focus on?
Pricing
Tools - What cloud technology aligns with your goals?

25. Assemble Your Team
Partner-in-Charge CAS Business Group
Business
Development
Marketing/Sales,
Finance,
Human Resources,
Technology, etc.
Director of Client Accounting Services
Virtual CFO
Implementation
& Client Support
Services
(separate positions as
the firm grows)
Client Relations (Client
Scheduling, Contract
Maintenance, Client
Satisfaction)
Virtual Controller
Accounting Manager
Accounts
Payable
Accounts
Receivabl
e
Payroll

26. Service Delivery Platform
Service delivery platform is a term used regularly in the “cloud-
computing” world
o Defined as the available technology components and/or solutions
that will be used in the client accounting service delivery model
For example: could include the following integrated business
solutions
o Intacct: Financials-on-demand
o Bill.com: cash flow and bill management
o Paychex: integrated payroll services
o XCM: workflow management
Position your firm’s capabilities, not the technology you use to
deliver your services!

27. What about Cloud Technology?
What technology matches your business
plan?
YOU PICK the tool you use to deliver
your services

28. Addressing Objections
Firm Leadership: Lead with the profit
potential
Firm Staff: Lead with the benefits to
helping them do their job and the ability
to establish a stronger, longer-term
relationship with clients
Clients/Prospects: Lead with the
additional services that will help them
grow their business

29. Firm Leadership
Lead with profit potential
Give a well organized presentation to firm
partners/stakeholders
o Educate on the new type of CAS services
o High-level overview of the business plan and strategy
Key points to highlight in presentation and discussions
o Easier to get a client in CAS then a new tax & audit client
o Need to stay relevant
o If you are not going to be responsive to your client wants,
someone else will be – other firms will take your business

30. Lead with the benefits: efficiency, productivity. The ability to be more of a
partner with clients
Arrange a lunch & learn to present internally
Communicate value proposition
Key points to highlight in presentation and discussions
o We have to stay ahead of the technology, clients are looking to us to help them
o Easier to work remotely
o Ability to service more clients
o More visibility into client information
o Changing their job for the better – more efficient
o Easier to recruit new graduates – entrenched in technology
Leading Change Within the Firm

31. Building the Value Culture
Our firm is different… For the growing, profitable client, we are the
Trusted Advisor and the “in-the-trenches,” MVP on their team.
We will be a key contributor to their continued growth and long-
term success, and we do not undervalue what this is worth!
We realize and accept that we are NOT the right fit for every client.
We are always prepared and content to walk away from a
prospect.

32. Don’t Spread Your Staff Too Thin
The most successful CAS firms do not share staff from other
departments (tax, audit, etc.).
Your CAS team members need to be experts in this 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

33. Develop an Internal Advisory Board
Involve staff at every level of the CAS department
o Gain constructive feedback and ideas from every angle
Meet weekly during the early stages of the transition. Monthly
meetings are then recommended to keep communication active
o Provides valuable insight as to employee morale, client feedback, etc.
o Invite guest speakers from 3rd party vendor companies, professionals in
human resourcing, marketing, technology, etc., to continue bringing new
ideas and energy to the group.
Rotate your committee membership
o Have new potential members “apply” for a position on the Committee
and complete an interview process for selection.

34. Clients/Prospects
Lead with additional services and benefits to clients
o Business intelligence
o Real-time visibility
o Dashboards
Key points to highlight in presentations and discussions
o More secure
o What can they do with the information – answer clients bigger
questions
o Right people, right information, at the right time, to make the right
business decisions

35. Selling the Value
It is not easy to BECOME a
client of our firm.
It IS AWESOME to BE a client
of our firm.

36. Build Value with a Strategic Prospect-to-Client Process
Qualification of prospect / analysis of existing client opportunities
Ongoing Services
Phase 4 Monthly recurring virtual accounting and Controller/CFO services
(Firms are charging $1500-$10,000+ monthly fees for this)
Short Term CFO/Tech Consulting
Phase 3 Data File Clean-Up, Staff Training, Management Report
Package Preparation, Process Implementation (CFO)
Client Needs Assessment
Phase 2 Initial Client Needs Assessment (firms are charging between $2,000-6,500+
for this). May be accompanied by financial clean-up and/or other services
Prospect Qualification
Phase 1 Prospect Questionnaire
Learn how at the Client Accounting Workshop!

37. Easing Clients into the Changes
New Client Welcome Kit (even for existing clients being
migrated) that describes:
• Overview of the solutions being implemented for the client and
their purpose
• Implementation Process (including interaction with client to
establish users and permissions, processing schedule, etc.)
• Training Schedule
• Ongoing reporting cycle and weekly/monthly meeting schedule
• Accessing support (when to contact us vs. the solution provider,
how to enter or call in support and/or “change order” requests”)

38. Roadmap for Profitably Moving Your Client Advisory
Services Practice to the Cloud
Our workshop provides a step-by-step roadmap for the successful start-
up of or transition to a value-priced, standardized outsourced accounting
and advisory services practice using cloud-based technology solutions
Get started on your business plan
2 days dedicated to work on this important part of the process
Learn all the key ingredients for success:
o How to staff for success
o How to package and price your services
o How to engage clients
o Marketing

39. Other Workshop Topics
Engagement letter templates and service level agreements
Key cloud based solution case studies to build the model
Key performance indicators (KPI’s) success factors
Rich virtual toolbox of templates and documents to complement
Collaborative engaged exercises to enhance learning
Small facilitated group to enable shared learning amongst
participants!

40. Assessments - $10,000
Implementations - $10,000 - 25,000
Monthly Services - $7,500 – 10,000
Now, fit clients to our services
Say “No” a lot, if not a good fit
Profitability = 30-35%
Assessments - $2,500
Implementations - $2,500
Monthly Services - $2,500
Started with 2 clients
Would fit our services to clients
Say “yes” a lot, even if not a good
fit
Profitability = 10-15%
Trusted CFO Solutions: Then & Now
TCFOS OCT 2011: TCFOS 2015:

41. Putting it together

42. What Past Attendees Had to Say
“The best thing about the workshop
was that I came away thinking: we
can do this! The facilitators showed
us how it can be done through real-
life examples, including explaining
potential obstacles and how to
overcome them.”
- Barbara Ostrander, CPA Vanacore,
DeBenedictus, DiGovanni &
Weddell LLP
“I was truly blown away by the
difference in the mindset of how to
make this type of practice work, and
I’m holding on tight to that and so
excited to start implementing it
here.”
- Claire Joyce , MSA, CPA,
Postlethwaite & Netterville

43. Roadmap for Profitably Moving Your
Client Advisory Services Practice to
the Cloud
 Dallas, TX : 10/28 – 10/29
*Save $300 when you register by 9/30
 San Mateo, CA: 1/19 – 1/20
*Save $300 when you register by 12/22
Upcoming Workshops
Visit CPA.com/casworkshop for more information