Professional services firms face a set of challenges that make it difficult to win new clients and deliver projects efficiently and effectively. A recent study from Aberdeen found that the top organizational challenges firms face today are managing changing customers expectations (47%) and poor communication and understanding of client expectations (24%). 43% of firms say a lack of available resources (skills or cash) is their top profitable project delivery challenge. The lack of access to skilled resources and rising labor costs could make it difficult to delivery on projects effectively and efficiently.
Top challenges for professional services firms
How could professional services firms succeed when faced with these challenges? This free eBook from the Aberdeen Group, “Develop, Win, and Deliver More with Professional Services Automation,” will show you how top performing firms addressed these four major challenges:
- Changing customer expectations. Your client is often the determinating factor on whether a project was successful or not, so it’s important to have expectations and agreements fully communicated. When they are not, it could affect resource utilization, timelines and costs.
- Global/distributed teams. When you have a geographically distributed team, communication is key, both within your organization and with clients. Without this, your employees might feel disconnected from the data they need.
- Lack of available resources. In professional services firms, your employees are the product. When resources are scarce, it makes it difficult to complete projects on time.
- Inability to accurately predict project costs or profit potential. Without insights into past performance or having scarce resources, it makes it difficult to quote new and exisiting clients accurately.
Leaders in this space are 66% more likely to use Professional Services Automation (PSA) software to solve these issues. PSA software includes capabilities for managing and planning your projects, gaining visibility in to costs and revenue, and managing your time and expenses.
Download the free eBook, courtesy of the Aberdeen Group, to see how leading professional services firms are facing major challenges here.