CAS ( Computer As Source) normally means using some computer softwares to play music files into analog signals. e.g media player, real player , but especially, iTunes, FOOBAR2000, APE player , FLAC player.
The latter group, mainly free at present, makes uses of the LOSSLESS formats and equalizers for decoding and processing. Then feeds the analog signals to a 2.0 or multi-channels pure analog amplifier.
As the software upgrades, esp. in preset equalizers effects, you get upgraded SQ (sound quality).
Simply speaking - Software converters free of hardware DAC's.
Music are downloaded and lossless , processors are free ( in updates, at least and ...) in contrast with different DACs which are needed to buy for newer versions/ parts periodically. Finally, you also enjoy the convenience of huge storage of continuous musics inside a single low cost Hard disk ( say 1 TB) .