Professional Services & Consulting
With an increase in customer demand and competitors, we see that those in the professional services industry are struggling to keep up. This is mainly driven by difficulty in attracting and retaining skilled employees. With the physical boundaries of offices becoming a thing of the past, firms are competing with solo consultants, gig workers, and virtual networks. It's no secret that the industry is at a pivotal moment of change.
These will be present both internally and externally. Internally, we already see that distance between teams has caused a disconnect between essential processes. Customer experience and service delivery are being affected by detached sales, service delivery, support, and finance.
Externally, we see an increase in global competition meaning more strain on effective resource allocation and management. Day-to-day operations continue to shift as both employees and clients adapt to accelerating technology. Let's take a closer look at the challenges:
There is prominent mismanagement of human capital and employee profitability.
The growth of companies is stagnating due to increased competition.
Resource management is becoming difficult and complicated.
Attracting and retaining skilled employees is becoming difficult.
Increase in accounting and billing
Average year-over-year professional services revenue
Average win ratio
Keeping the pace
Through the implementation of FinancialForce's PSA solutions, you will be able to attain accurate data that is continuously updated and within a centralized repository.
Only then can businesses in the professional services industry adapt effectively to the ever-changing environment.
Automate and streamline
Automate all processes from sales to delivery.
Track everything, including billing and expenses in multiple currencies.
Automate compliance with new revenue recognition tools.
With built-forecasting capabilities, you will be able to perfect your resource planning and increase profitability.
Built staffing models will allow you to drive higher margins, quicker delivery and increase customer satisfaction.
Get a lifecycle of your current client base including key metrics.
Easily identify the best opportunities and respond quickly to market changes.
Find out more
Find out more about how we have helped those within the Professional Services & Consulting industry achieve a 360° of their business.