The biggest obstacles facing professional services firms
Modern stressors have led to the biggest functional transformation over the shortest period of time that the PS industry has ever experienced.
51%
Adapting to more remote and asynchronous working
44%
Securing access to the contract workforce
49%
Pricing transparency and margin pressure
36%
Rapidly shifting client needs
46%
Challenges recruiting and retaining talent
33%
Volatile customer demand
Project success rates are low
of PS leaders report less than half of their projects meet goals.
report project success rates under 70%.
Technology challenges are preventing PS firms from achieving their goals
Many teams work in technology silos that limit the valuable context and data-driven intelligence that would otherwise improve how work happens. The top challenges include:
Siloed information
Security and compliance requirements that limit their apps’ usefulness
Lack of clarity on how work progress relates to goals
Poor app user experiences
Having to use too many apps
Businesses are now funneling investments into applications that deliver a more seamless experience
Control
Secure empowerment
The #1 drawback of general tools is the inability to do detailed resource management and capacity planning
Context
Frictionless user experience
The #1 challenge with collaboration is not having a single source of truth when it comes to project and customer data
Collaboration
Improved systems of delivery
95% struggle with some aspect of collaboration
AUTONOMY
Only 54% really know what to focus and prioritize most days
AGILITY
45% struggle to match available skills with individual project needs
ALIGNMENT
The #1 hardest challenge (53%) when executing across projects is combining scale and agility in portfolio management
PS teams need a distinct set of capabilities to optimally manage their project and portfolio delivery
High-performing PS teams want technologies that allow them to make data-driven decisions and provide alignment throughout the project life cycle. The top capabilities requested include:
52%
Quote -to-cash financial management supporting project profitability and general financial oversight
39%
Team collaboration connecting people, resources, and projects
48%
Resource management features helping you manage your teams across projects
38%
Designed specifically with professional services teams in mind
48%
Business intelligence to examine which projects generate the most revenue and client satisfaction
34%
Strong integration capabilities with other business systems
43%
Project management features to keep projects on track
"We are very happy with the results we are achieving — better information sharing and collaboration between departments and more discipline in business forecast management and in services delivery."
Thierry Guennegues
Services Offer & Programs Director
