In today’s data-driven world, every business needs a smart strategy. But for professional services firms, intelligence is a critical success factor (CSF). Their “product” is a unique blend of insights and expertise, and their bottom line depends on delivering results that other firms can’t match. While human experts have always been the foundation of success,…
Forward-looking professional services firms are capitalizing on new opportunities to leverage technology to align around new needs and shift to outcome-based operating models, and deepen client connections. They understand that responding to new challenges isn’t really about data or algorithms, it’s about maximizing the resources they have to provide more value to the people they…
Cloud-based ERPs like Dynamics 365 serve as the digital foundation for any modern business. Capture, organize, and unify all of your firm’s data in a single location — providing full visibility into core operations and accessible insights to all users. These benefits, while essential, are a far cry from anything considered “transformative.” See, any competitor…
Is cloud storage safe from ransomware attacks? The short answer is, it depends on, well, several things. Though, whether or not cloud storage is definitively safe is beside the point because the “cloud safety” conversation has changed. See, the cloud has transformed the way we communicate, collaborate, and access information — both at work and…
Professional services firms are vulnerable targets for cyber criminals for a few key reasons. For starters, this is an industry that deals in valuable information. Knowledge workers typically rely on some combination of client data, original research, and proprietary IP to deliver insights and solutions that drive specific outcomes. In other words, firms are sitting…
The professional services industry will embrace digital-first revenue business models and business practices. AI and automation will take on a greater role. Data continues its reign as “king.” Remote work is here to stay. We’re watching these predictions take shape in real-time. At the same time, the future of the professional services industry has never…
Life Cycle Management (LCM). Total Lifecycle Management (TLM). Product Lifecycle Management (PLM). Different organizations refer to it using different names and acronyms, but all emphasize the importance of recognizing that every piece of equipment a customer buys is an asset unto itself, with a complete lifecycle of its own from procurement to disposal, and there…
According to Deloitte, professional services firms need to embrace AI, business intelligence (BI), and big data analytics because they have no other option. In other words, opting out is a death sentence. While just about every industry is in that same boat, BI and advanced, cloud-based analytics have become central to the professional services business…
Professional Services Firms need to evolve ASAP — both to help their clients respond to disruptive forces and remain competitive amid rapidly changing conditions themselves. Most business leaders know that something needs to change, yet struggle to define what needs to happen, much less how to put plans into action. Below, we’ll look at some…
Revenue forecasting is a process used to predict future revenue for the purpose of making strategic business decisions. It plays a key role in helping firms secure long-term profitability, increase market share, and keep competitors at bay. Among professional services pros, revenue forecasting has long been considered more “art” than “science.” Though, with recent advances…
