2016 and Beyond: The Top Professional Service Trends to Watch
The professional services industry has a growth streak that’s not slowing down. 2015 marked the fifth year in a row of greater than 10% annual revenue growth across all facets of the industry – and with that growth comes some significant, emerging trends. That being said, there are indicators that suggest potential obstacles that professional services organizations need to be prepared for – specifically decreasing sales pipeline and services backlog.
Now more than ever, services-centric organizations need to take stock of their sales pipelines and backlog and make sure a.) they are well-positioned in growing markets and b.) have enough business to sustain growth. And with attrition rates edging over 12% per year, this looming industry-wide talent cliff threatens to derail all the productivity gains made in this people-centric industry.
One sure fire formula to beat the odds is the powerful combination of integrated front-office applications – Client Relationship Management (CRM) and Professional Services Automation (PSA). This allows Best-of-the-Best organizations to plan and manage their sales pipelines in coordination with their resource plans.
What are those top performing PSOs doing?
Jeanne Urich, Managing Director at Service Performance Insight (SPI), has a lot to share on this topic in her 2016 PS Maturity™ Benchmark Study, where she also highlights the 2016 Best-of-Best Professional Services Organizations (PSO) and how they earned that status. In the report, those Best-of-the-Best winners and FinancialForce.com customers, Brian Walsh, Chief Strategy Officer and Partner at CodeScience, and Scott Klein, Director of Business Operations for Fruition Partners, will share how their organizations finished among the top 5% globally and what their plans are to continue steady, profitable growth in 2016 and beyond.
You can download the full report here. Highlights include:
- The Top 5 trends impacting your service business in 2016
- How top-performing services businesses managed to get sales and delivery on the same page to deliver greater than 25% revenue growth
- How hiring, retaining and growing talent is the “wave of the future” and key to a sustainable services business
- The “hot off the press” results of the SPI 2016 Benchmark Study showing the latest trends in professional services
- How the powerful combination of Salesforce CRM and FinancialForce Professional Services Automation (PSA) helped both CodeScience and Fruition Partners become this year’s Best-of-the-Best winners
CodeScience is a collection of seasoned Salesforce experts who are committed to collaboration, innovation and creating elegant solutions for their clients.
Fruition Partners is a global technology-enabled services firm dedicated to helping organizations improve efficiency and lower costs by elevating service management to the cloud.
SPI Research has recently named the top twenty-one 2017 Best-of-the-Best professional services organizations. Download the 2017 SPI Best-of-the-Best report featuring 3 FinancialForce customers.