Trends in professional services are signaling rapid, significant change, forcing industry leaders to answer a critical question: “Do I want to lead change or follow it?” As a professional services firm, your business strategy must account for dynamic change that’s at once difficult and essential to predict — transformation that won’t just impact your firm, but how you serve your clients, attract new business, and deliver results your competitors can’t. Simply put, if you don’t step up to the challenge, another firm will. So, the question is, is your organization positioned to innovate and embrace change?
Anticipate the future of the professional services industry
Use our playbook to identify and assess how your firm stacks up against industry trends impacting professional services. Here’s some of what you’ll find inside:
- M&A strategy. In a competitive industry, transactions provide professional services firms with an attractive strategy to access new markets and capabilities or pursue growth. Whether buying or selling, a thoughtful, coordinated M&A value creation plan can ease the burden of transition and control risk throughout the process. A structured approach is critical for integrating an acquisition seamlessly into your business or ensuring your firm is marketable to maximize ROI.
- Technology adoption. From AI to cybersecurity to IT, firms face pressure to meet the rapid pace of technology innovation while ensuring their data and that of their customers’ is secure. Customers and clients are increasingly expecting greater data transparency from firms, such as through SOC audits. You need to be a step ahead of customer expectations and ensure you’re asking the right questions as you build out your technology strategy.
- The future of tax policy. Staying compliant in an evolving tax landscape is critical for firms. If you’re not regularly reviewing your tax planning strategy, you could be missing out on key tax opportunities — and exposing your firm to tax risks. Take the first step by asking the right questions as you review your tax plan.
- Succession planning. A solid leadership pipeline is a pivotal component of your organization’s future success. Competitive firms have structures in place to identify, develop, and retain their top talent — does yours? Identifying missing pieces in your succession planning strategy can help you avoid common pitfalls and prepare your next-generation leaders for success.
Download our professional services industry trends playbook
Not sure where to begin? Start by downloading our playbook to learn more about these trends and ask yourself the tough questions to stay competitive in an evolving industry.
