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About Michael Liss
Contents:
  1. Experience Management: Turning Woes Into Wins For Professional Services Firms
  2. More from Entrepreneur
  3. Research Services:
  4. Marketing And Advertising Resources For Companies Operating In Service Sectors
  5. Professional Services Consulting

Another critical component of the client experience is the sentiment and needs of the talent executing the engagement.

The quality of human interactions considerably influences whether both employees and clients remain loyal. When talent — full-time equivalent as well as contingent — feel supported by unobstructed insight, relevant training, and seamless collaboration across platforms, they are more likely to be equipped to deliver on the full promises of the engagement.

Experience Management: Turning Woes Into Wins For Professional Services Firms

In other words, when employees are happy, clients are happy, and vice versa. By gauging both the client and employee experience, midsize professional services firms can clearly understand the thoughts and emotions of the people involved in engagements also known as X-data.


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By combining this information with hard operational numbers or O-data such as profit, costs, and timeliness of services delivered, midsize firms will have a direct call to action to more effectively address issues before they become a problem. Experience management provides a powerful combination of insight to midsize professional services firms.

More from Entrepreneur

Every engagement can be navigated with a foundation of facts and empathy — ensuring that every interaction is considerate and responsive to the needs of the client. And most importantly, firms can capitalize on any changes in the client base and workforce to prove their value and ensure long-term partnership and loyalty. Discover how best-run midsize professional services firms are focusing relentlessly on clients, evolving financial models, addressing evolving risks, using nontraditional talent engagement models, and supporting digital sales and marketing strategies.

Read the Digitalist Magazine and get the latest insights about the digital economy that you can capitalize on today. All rights reserved. Sitemap Terms of Use Privacy Policy. All rights reserved worldwide. Back to Menu. All of this is at a time of rising costs , as well as uncertainty around Brexit affecting the UK and Europe, means that the pressure is on professional services firms to do more with less.

Research Services:

The firms responding well to this challenge are the ones turning to digital technologies to ensure they are providing innovative and profitable services to their clients. That much is non-negotiable. There can also be something of a disconnect between the front and back office, making them inefficient as organizations.

Digital technologies provide firms with the ability to make the transition from being disconnected, manual, and transaction-heavy to being integrated, automated, efficient, and collaborative. Back office services automation is increasingly important, helping firms to eliminate paper-driven processes, and at the same time, significantly reducing costs and improving service levels. Professional services firms have much to gain by taking this approach, bogged down as they so often are with inefficient processes such as accounts payable, travel expenses, time sheets, billing, and cash allocation.

Marketing And Advertising Resources For Companies Operating In Service Sectors

Digital labor is cheaper, faster and more scalable than labor arbitrage, but unlocking business value is not just about automating low-value manual processes in order to reduce operating costs. The flexibility and scalability offered by digital transformation are also key to driving value in the front office and revenue generation. A typical front office challenge is bidding for projects and ensuring that the winning bid is accurate, reliable and profitable at the outset.

The traditional bid process is often manual and inefficient and is particularly ripe for automation that supports and augments rather than replaces front office professionals. BAM partnered with SAP on such an approach that automatically looks for similarities between matching incoming tenders to past bids. Through machine learning, it is possible to quickly find relevant tenders to help with new responses, which saves time on the bid process, enhances the quality of responses, and creates a better chance of winning business.

Embracing digital transformation allows firms to address the disconnect between the front office and back office.

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Professional Services Consulting

It allows them to eliminate silos with processes designed to run efficiently end-to-end, as well as gain insight into information from across the organization. This provides firms with a unified view of the key drivers for the firm including pipeline, backlog, historic and forecast utilization, revenue and margins.

This extends beyond the delivery of key information to stakeholders at the point of decision. Previously unseen insights can be unearthed by machine learning and the easy modeling of complex scenarios with powerful predictive capabilities can be critical to understanding how to identify future revenue opportunities. Of course, in order to allow firms to fully unlock business value through digital technologies, it is paramount that these technologies deliver a user experience that not only allows easy adoption but goes beyond that typically available with enterprise systems.

The 3 Best Marketing Strategies for Selling Professional Services (Intro, 1of4)