How to stay ahead of the professional services game

Sponsored Post Demand for professional services remains robust for the moment, but how do companies continue to keep their customers onside in the face of continuing macro economic uncertainty and the squeeze on buyer budgets that will inevitably ensue?

Forecasts suggest the global market for professional services will expand at a compound annual growth rate (CAGR) of 9.4 percent this year to reach almost US$6bn, and will continue to grow at 5.7 percent to hit almost US$7.5bn by 2026. That's higher than the predictions for global GDP issued by the International Monetary Fund, and suggests what might prove to be a short term resurgence in professional services revenue after the slump caused by the coronavirus pandemic.

The size and breadth of the sector - which includes millions of organisations ranging from consultancies, law firms, merger and acquisitions specialists, tax advisory companies and engineering consultants – is undoubtedly one of its biggest strengths. But that also makes it fiercely competitive. And in a broader global economy struggling to cope with higher interest rates, supply chain issues and a dip in business confidence, no professional services company can afford to be complacent about the future.

So given that the ability to retain existing customers and attract new ones will inevitably be the key to sustaining revenue and profitability, it's important for professional services organisations to know what they're doing well and what they could to differently to maintain their growth trajectory and stay ahead of the chasing pack.

Want to get more detailed insight? Then you should watch this webinar featuring Dave Hofferberth of SPI Research and Brian Siefkes from Sage Intacct to hear about the trends which are currently driving the professional services market.

You'll also get a crucial overview of SPI's unique professional services maturity model, designed from the ground up as a strategic planning and management framework. It's now used by over 35,000 service and project-orientated organisations to benchmark and improve their service excellence based on the five pillars of leadership, client relationships, talent, service execution, and finance and operations.

Head here and register to watch the "How professional services organisations scale successfully" webinar and you won't be disappointed.

Sponsored by Sage.