Future-Proof Your Firm: Embrace CAS & AI Now w/ Deneen Dias

Welcome to another episode of Building the Premier Accounting Firm. Today, Roger Knecht and Deneen Dias discuss the evolution of accounting, focusing on Client Advisory Services (CAS) and the strategic shift from traditional bookkeeping to high-value advisory. Learn how your firm can embrace technology, particularly AI, to scale operations, enhance client relationships, and drive recurring revenue. In This Episode: 00:00 Welcome & Guest Introduction 02:11 Deneen's Journey into Accounting 04:08 Defining Client Advisory Services (CAS) 08:08 CAS 1.0 vs. CAS 2.0 & Challenges 12:24 Building Confidence in Advisory Roles 16:21 Growth and Pillars of CAS 19:33 Pricing Strategies for CAS 24:34 AI's Role in Advisory Services 27:52 Leveraging Existing AI Tools 33:13 Gratitude and Infinite Ties 34:25 Podcast Summary and Resources 38:39 Final Thoughts and Call to Action Key Takeaways: Define Client Advisory Services (CAS) as moving beyond transactional work to real-time data analysis and strategic client advice. Shift your firm's offerings to value-based CAS, leveraging recurring revenue models to increase profitability. Implement a tiered pricing structure for CAS, such as the "biking, driving, flying" analogy, to guide clients through different service levels. Utilize existing technology platforms to integrate AI for automating transactional tasks and enhancing advisory capabilities. Upskill your team's soft skills and business acumen to confidently deliver CFO and advisory services. Featured Quotes: "Clients are hungry for advisory. They don't want someone to just do their taxes or prepare their financials. They want someone that can talk to them about their business, can talk to them about the numbers." — Deneen Dias "CAS is the fastest growing new revenue source for traditional firms. We've seen audit is flat. Tax has about 5% growth. And CAS, for the firms focusing on it, have 20% to 30% growth." — Deneen Dias "The tech stack that you're using now, build.com, spending a lot of money, bringing a lot of AI… get to know the vendors… Make sure you're taking advantage of all of the new things that they're bringing to you already." — Deneen Dias Behind the Story: Deneen Dias, a leader with 17 years in accounting technology, shares her journey from helping firms adopt cloud accounting in 2008 to co-founding Infinite Ties, a community for CAS professionals. Her deep experience highlights the accounting profession's ongoing evolution, emphasizing the current push towards advisory services and the integration of AI. She provides practical strategies for firms to overcome resistance to change, package new services, and build confidence within their teams. Conclusion: Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Check out Infinite Ties, a thriving membership community built exclusively for CAS professionals who are shaping the future of advisory services. Are you ready for a change, both personally and professionally? Then accept and participate in the Accountrepreneurs Challenge. This is a FREE opportunity to apply best practices and make this the best year yet in your career. Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: "Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds" – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. "in the BLACK, nine principles to make your business profitable" – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. "Your Strategic Accountant" - Understand the 3 Core Accounting Services (CAS - Client Accounting Services) you should offer as you run your business. Help your clients understand which numbers they need to know to ...