How can the global Professional Services industry survive digital disruption?
Over the past 10 years, there have been technological advances that have disrupted and weakened the Professional Services landscape:
- Changing customer buying behaviours (57%)
- The commoditisation of Intellectual Property through easily accessible online alternatives
- Easier online search and acquisition of specialist skills
- Empowered consumers multi-sourcing specialist providers
- Customers insourcing commoditised skills and project activities
As a result, traditionally strong performing Professional Services organisations are experiencing:
- Globally declining Sales Pipeline and lower Win Rates (Source: SPI Research 2018)
- Declining revenue per consultant and growth rates
- Reduced demand for traditional T&M engagements
- Difficulty in differentiating their value proposition
- Improving Customer Satisfaction
- Lowering Employee Churn Rate
Has your organisation kept up with this pace of change?
- Invested in Digital and Social Selling practices?
- Started developing repeatable value-oriented or outcome-based professional service engagements?
- Explored modularisation of services to engage in Multi sourced engagements?
- Leveraged technology to reduce existing operating costs?
- Automated Back-End Services?
Isn’t it It about time that you took action to counter the risk of disruption? Your organisation needs to accelerate its future growth using technology and digital transformation. By leveraging our knowledge of new, emerging and technologies we enable organisations to collaborate, innovate, and scale.
Watch this space to hear more about Professional Services Disruption - or drop us a line today.