An accountant's guide to CAS verticalization

 Industry knowledge, more than the list of services you offer, is what makes a CAS practice stand out. According to the 2024 CPA.com and AICPA PCPS CAS Benchmark Survey, firms that focus on defined industry verticals report 38% higher median CAS revenue and 51% higher median net revenue per client than firms that don't specialize. They also grow at a median rate of 20% year over year. Yet 36% of CAS practices still don't specialize by industry, which leaves room for firms that are ready to move. This guide explains the difference between a niche and a vertical, and gives three criteria for choosing the industry where your firm can build the most value.