The inherent customer-focused nature of the professional service industry has induced significant changes and innovations within the entire space. As professional service automation statistics have shown, the industry is changing, and fast. Notably, there are rapid technology developments, changing employee needs, and emerging client demands.
Consequently, there is an increasing urge for professional service firms to implement robust professional service automation software. As an industry player, you also need to keep your eyes firmly fixed on the changes taking place in the industry.
In this article, we’ve compiled the most critical professional service automation statistics you should know. The goal is to help you remain abreast of the fundamental industry changes and succeed in this increasingly competitive sector. Having these data at your fingertips will help you adapt to changes with ease and devise ways to improve service delivery.
The tide is steadily changing, and customers have become the focal point of the professional service industry. Apparently, today’s customers are empowered, have high expectations, and are authoritatively driving change in the service industry. As a result, the need to meet customer expectations has become an important metric, one that service businesses should endeavor to achieve.
Quality of work51%
Speed of service delivery50%
Cost of service48%
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Meeting customers’ expectations remains an essential factor for a long-term service business strategy. This is because, with the increased expectation, customers are more likely to seek services from a firm that demonstrates relevant expertise to meet their needs.
Besides, today’s customers have shown a subtle inclination towards services that are offered on a per-project basis. For these reasons, if you are looking to earn continued business, you must expand services and optimize processes. Besides, you should run a business with added agility to raise satisfaction levels. More importantly, you must know the techniques for improving customer experience to enhance service delivery.
Up until the last few years, the impact of disruptions and innovations on the professional service industry was less visible. However, recently, the marketplace has experienced rapid growth, and the speed of change is poised to continue to accelerate. This is mainly due to the agility of service providers and the call for higher speed and quality services by customers.
Change has become part of the professional service industry, and growth has taken a strikingly similar pattern across all sectors. The market is proving to be a rich goldmine, and going by the statistics, its size will grow enormously.
To respond, software providers have seized the opportunity, developing innovations to counter the growing demand. Competition amongst developers has intensified, and this is goods news for service firms. As it stands, startups and small businesses can now afford solutions that were exclusively reserved for industry behemoths.
Like every other sector of the economy, the professional service niche has its challenges. The industry is fraught with a host of problems that carries the potential to derail the growth of service businesses. However, data has shown that challenges emanating from project and resource management are the most prevalent.
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There is no denying, challenges to the professional services businesses are aplenty. However, some of the challenges are of your own making, and thus, the remedy must come from within.
For example, you must evaluate your firm and learn how to manage your project teams more effectively to boost productivity. Besides, you should align your staffing resources and new tools to address typical challenges decisively. This can be achieved by implementing tools that empower you to creatively find employees online and offline. Most importantly, you must improve the service offering to raise satisfaction levels and expedite business growth.
Technology harbors immense promise for all sectors of the economy. The professional service niche is no exception. However, unlike in other areas, the service industry faces unique technology infrastructure challenges. For this reason, it’s becoming increasingly crucial for all leaders to adopt professional services software with caution.
For example, a lot of manual work is still needed to synchronize systems and ensure the delivery of high-quality services to customers. If systems are not in sync with the way a business works, they can easily stifle the potential of that business and hinder the accuracy of service delivery.
When they are implemented without a well-orchestrated policy, technological innovations can easily complicate business. For instance, applications meant to improve efficiency can easily cause the opposite effect when they are not seamlessly integrated.
For this reason, businesses in the professional services sector must know the outcomes of their technology architecture. Besides, they must adopt the perfect blend of systems to improve efficiency even as they strive to usher in relevant change. Most importantly, small businesses should prioritize solutions that support basic operations and scale as your business grows.
The demand for a more extensive selection of services from professional services providers has changed the way firms work. Also, the need to find relevant talent regardless of the location has intensified the influence of distributed workforces. Even more, the standardization of skills and expertise has inaugurated the widespread use of distributed teams and contract workers.
Companies are embracing remote work63%
Skills are more specialized59%
Remote work is becoming more common55%
Companies using flexible talent53%
Talent is hard to find39%
Remote work is the future38%
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It’s clear that the use of remote workers is poised for increased influence on the service industry. A look beyond the rising remote work models reveals another gleaming trend. Modern technological innovations have facilitated the rise and use of contract workers.
Today, both remote and contract workers are playing a massive role in the professional services business. However, connecting remote, distributed, and contract workers comes with a higher risk. It’s not surprising, then, that many organizations view effective collaboration as a critical constituent to success. As such, service firms need to use effective team communication strategies to improve online collaboration.
Besides implementing PSA solutions, businesses must learn how to use online collaboration tools like video conferencing software. This way, it will be easier for service businesses to connect and work with the right talent regardless of their geolocation.
There you have it, our compilation of the top professional services statistics you should know. Numbers don’t lie, and from the stats above, it’s clear that the professional services industry is rapidly changing. Today, service automation solutions are affordable, and small service firms can now find the perfect solution to boost productivity and improve efficiency.
However, the industry is evidently in constant change as firms attempt to widen their scope of services and start using remote workforces more than ever. The abundance of technology has complicated service operations, and it’s now fallen upon managers to come up with well-defined strategies to build more profitable ventures. Above all, service businesses must forestall and prepare to flex even more to be able to tap into technological innovations and the imminent, liquid workforce.
That’s not all: you must remember, customers mean everything to a service business. Because of this, even as you adapt to change, you must build your business around customer satisfaction, project success, and profitability. This means adopting effective planning policies and using the most relevant staffing resources to meet growing clients’ expectations while easing the pressure on your project margins.
The professional service industry is a wide scope, one that cuts across different fields such as task management, time tracking, and field service management. We are privileged to have all the information you need to make an informed decision when selecting a PSA solution for your firm. For example, you can read our guide on time tracking software to get helpful insights into managing complex projects.
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