Professional services clients lean on their partners to help them solve some of their toughest challenges.
What is driving service productization?
When contracting for a service engagement, clients are often taking a big leap of faith due to the fact that the very nature of services makes them difficult to comprehend — they are intangible and it is often difficult to quantify results.
In the selling process, potential clients expect to see client references, samples of previous work done, industry expertise and skill sets of potential project team members, and various other “proof” of a firm’s ability to deliver. Professional services firms also continue to struggle with project challenges that are a drain on profitability. Projects take too long, significant rework is required and exceptions to standard processes are common.
Many of these concerns can be alleviated by ascribing more tangible features and benefits to service offerings. For instance, having predefined and clear offerings or deliverables puts the prospective client more at ease during the buying process, establishing a fixed price reduces the perceived risk of cost overruns and identifying the actual names of people who will do the work adds credibility. These are all ways of service productization and more and more professional services firms are transitioning toward this model.
Download the whitepaper to learn how service productization can positively impact your business and techniques to do so successfully.