Professional Services Trends To Follow in 2022

In the years 2020 and 2021, professional services organisations (PSOs) face an unclear future. Despite year-on-year growth up to this point, 2020 has presented problems that no one could have predicted.

Many have already begun to grapple with the difficulties of remote work and antiquated systems. But, what more problems lie ahead for PSOs, and how will they be met?

Competition for Professional Services 

Customers are more hesitant to invest when faced with the potential of a recession. And, PSOs are fighting harder than ever to stay afloat in these disrupted marketplaces.

As larger and more equipped firms gobble up many smaller organizations striving to find a path out of the current crisis, the market will become more consolidated. Although this presents numerous potential, PSOs will need to be cautious and creative to stand out in this more consolidated and homogenized market.

Trending Ways of Working and Delivering Services 

The ever-changing environment in which PSOs today work exacerbates these challenges. Customer expectations are changing, and technological advancements are changing how consumers use professional service businesses’ services. As a result, there is a demand for innovative working models that can adapt to market developments.

Furthermore, the advent of the ‘Everything as a Service’ economy has further heightened the need for many PSOs to reevaluate the services they provide and how they provide them. Traditional service delivery paradigms are under attack, and customers are no longer exclusively consuming expertise in person. It is no longer a question of if, but when many services will be digitized. Customers will expect more from the PSO industry of the future, as it will employ more channels than ever before.

To meet this expectation, companies will need to invest in new technology, boost personalization, and expand their presence on more fronts than ever before to meet client expectations that are available 24/7, anywhere, and at any time.

Need for Talent 

Tomorrow’s PSOs will have to rely on their staff more than ever before to accomplish all of this. As a result, acquiring and developing people will become increasingly important in PSO planning.

To do so, PSOs will need to start focusing on their employer brand and ensuring that they are at the forefront of employee happiness while also raising billable staff utilization and increasing income from each employee, consultant, and project.

However, having the appropriate talent and putting it to good use are two different things, and this is where technology will come in handy.

More Capable Tech 

The amount of flexibility that PSO technology allows its users will decide its destiny.

Despite these difficulties, many current Enterprise Resource Planning (ERP) and Human Capital Management (HCM) technologies are outperforming expectations. They are capable of dealing with any difficulty that a modern PSO may throw at them.

Many now include everything from digital assistants to clever automation, allowing your employees to focus on higher-value work. When you realize that according to Constellation, more than 70% of all back-office procedures might be automated, this becomes even more relevant.

All of this technology will increase productivity and capabilities. People will be less mired in paperwork and waste less time duplicating work for several systems and processes, resulting in increased productivity.

More importantly, if your employees are freed from the meaningless, they will be able to focus on the vital. Spending more time on the job that matters and providing better client experiences. All of this is possible thanks to technology that is up to the task, as well as processes and thinking that take full use of the technology’s advancements.

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