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The top three professional services challenges and opportunities for 2019

With 2019 nearly upon us and the business climate continuing to evolve, it’s essential that your services team prepares for challenges and opportunities that the new year may hold. When you also factor in the latest innovations and technology advancements for the services industry, there is much to consider for you to remain competitive.

Here are the top three considerations as 2019 approaches:

Technology and Innovation

The buzzwords today are ArtificiaI Intelligence (AI) and machine learning. Its application to Professional Services is becoming more important in predicting and forecasting your business and helping to find the correct resources for any given project.  Are you doing enough within your business to capitalise on the technology available to you today?

Key business KPIs

Resource management, utilization, and accurate revenue forecasting are all things a Professional Services organisations must be laser-focused on to increase profitability and grow their business. How can you achieve those KPIs and bring more predictability to your business in a business landscape that never sits still?

The impact of Brexit on Professional Services organisations

Brexit has provided a level of uncertainty for most businesses, and in particular, for Professional Services where key concerns include:

  • The people movement: how will this impact your project resourcing?  
  • Commercial transactions. How will services be affected compared to physical products?
  • Compliance: Depending on the nature of the split from the EU, which compliance requirements will persist or what will change?

The answers to all of these are complex, however, for those in London, we’ll have more in-depth discussions on Tuesday, 27th November during our Services Ready 2019 breakfast event at The Gherkin. The event brings together senior services decision makers to hear industry experts including Enterprise Times, techUK and the Management Consultancies Association discuss and debate key topics affecting the industry to help them gear up for 2019. The full agenda and registration details can be found here.  

 

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