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Automation Improves Performance For Professional Service Firms

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Automation is making it possible for some firms to move faster and execute more efficiently. This infographic highlights some of the market pressures facing professional service firms today.

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Automation Improves Performance For Professional Service Firms

  1. 1. If You Want to Win, Speed Is Everything Whether your firm is in growth mode or retrenching, moving faster and working more efficiently are effective ways to protect and grow margins. UPS Professional Services Insights It’s not a secret. The professional service firms that succeed and grow in the long term are often the fastest and most agile. Even innovation—which is often heralded as the key to competitiveness—is a matter of recognizing problems and opportunities early, and being the first to market with new solutions. In this infographic we cast a spotlight on some of the market pressures facing professional service firms today. We then look at how automation—a perennial source of speed and agility in every sector—is making it possible for some firms to move faster and execute more efficiently. © 2016 United Parcel Service of America, Inc. UPS, the UPS brandmark and the color brown are registered trademarks of United Parcel Service of America, Inc. All rights reserved. TO LEARN HOW UPS TECHNOLOGY CAN STREAMLINE SHIPPING, TRACKING AND BILLING FOR YOUR PROFESSIONAL SERVICE FIRM, VISIT UPS.COM/PROFESSIONAL. Source: Aberdeen Group, Professional Services Automation, The Secret to Successful Projects and a Profitable Services Group, n= 165, March 2013 Source: CompTIA, base U.S. senior-level legal, accounting or marketing professionals (n=600), November 2015 Source: Aberdeen Group, October 2012, n=165. Source: Service Performance Insight (September 2014) LACK OF AVAILABLE SKILLED RESOURCES REACHING NEW CLIENTS INCREASED COMPETITION FOR CUSTOMERS IMPROVING STAFF PRODUCTIVITY/ CAPABILITIES SHRINKING TIMEFRAME TO COMPLETE PROJECTS REDUCING COSTS/ OVERHEAD MARKET VOLATILITY MAKES IT DIFFICULT TO PREDICT DEMAND IMPROVING EFFICIENCY INNOVATING MORE EFFECTIVELY 1 1 2 2 3 3 4 4 5 BEST-IN-CLASS PERFORMERS INDUSTRY AVERAGE LAGGARDS The competition for talent and new customers remains intense among professional service firms. In some industries like the legal profession, slow growth is turning up the pressure to operate more efficiently. Top performing firms are more likely to use integrated professional service automation (PSA) tools. Best-in- class performers, as benchmarked by Aberdeen Group, are in the top 20% based on project delivery, customer satisfaction and employee utilization. Users of PSA solutions report better employee utilization, revenue growth, on-time delivery, productivity, and earnings. TOP CHALLENGES IN PROFESSIONAL SERVICES TOP PRIORITIES FOR LEGAL, ACCOUNTING AND MARKETING FIRMS PROFESSIONAL SERVICE FIRMS STAFFING CHANGES, 2013-2015 HIGHER PERFORMERS USE AUTOMATION SOLUTIONS THE AUTOMATION PERFORMANCE ADVANTAGE Profits Under Pressure Automation Improves Performance For Professional Service Firms Employee Type Employment change 2013-2015 Lawyers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.0% Paralegals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4% Legal secretaries. . . . . . . . . . -3.7% Office clerks, general. . . . . . . . . . . . . -1.8% Admin. assistants. . . -5.4% Accountants and auditors. . . . . . . . . . . . . . . . . . . . 7.6% Bookkeepers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2% Tax preparers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.8% Administrative assistants. . . . . . . . . . . . . . . . . . . . . 6.3% Office clerks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3% Management analysts. . . . . . . . . . . . . . . . . . . . . . . 7.5% Graphic designers. . . . . . . . . . . . . . . . . . . . . . . . . . 5.9% Advertising sales. . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3% Managers, all other. . . . . . . . . . . . . . . . . . . . . . . . . 7.4% Interior designers. . . . . . . . . . . . . . . . . . . . . . . . . . 6.2% On-time project delivery Employee utilization Profits (EBITDA) Revenue growth Annual revenue per consultant (ooo) LEGAL ACCOUNTING MARKETING No PSA PSA Used 75% 9% 77% 12% 72% 8% 76% 10% $192 $216 47% 32% 16%

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