Do You Have What it Takes to Scale Your Professional Services Business?
Growth is the hallmark measure of success for all organizations – especially in the professional services industry. But scaling your professional services business is difficult when you have slim margins from outdated software solutions, process bottlenecks, and underutilized talent. To pursue higher profits and your competitive advantage, first ensure that your organization has removed the barriers to scale.
The following are critical elements for every professional services firm that is looking to successfully scale.
Your tools are meant to enable, not disable, your organization’s objectives. However, according to a recent Forrester research report, only 25% of decision makers from firms strongly agree that their resource management solution meets their organization’s needs. Many organizations rely on a combination of fragmented tools like spreadsheets that fail to keep up with evolving professional services business processes and trends. Few are utilizing applications that were specifically designed for professional services resource management.
Technology should take you forward, not constrain your people and processes. The best solutions enable you to respond to changing client pressures by precisely optimizing resources in real time. This is crucial to increase profits and build the right foundation of growth. When it comes to looking at whether your technology solutions have what it takes to help you grow, ask the right questions. Does this solution turn resource management data into actionable insights? Do our solutions integrate effectively and provide comprehensive visibility? Is our technology only supporting basic administrative tasks, or is it helping us reach strategic objectives?
Critically, resource management solutions should not only provide this level of support, but be able to provide it no matter how large the company becomes and how quickly it scales.
Process bottlenecks are the enemy of transformative growth. Misalignment between systems, duplicate work from different teams, and resources that are spread too thin prevent projects from progressing smoothly or progressing at all. As companies begin to scale in both resource pool and projects, this misalignment can become exaggerated and lead to more disastrous consequences.
In order to optimize your professional services business for scalability, intelligent orchestration must be at the heart of your processes. This is the ability to connect and automate complex data and workflows sets your team up for success and optimizes resources to make the most of your team at any size and any stage of your organization.
Your people are your power. Growth is not only about your systems and technology: it relies on your team. Developing your current talent plays a major role in scalability because it makes each team member stronger and better equipped for both current and future workloads. Your investment into your people is an investment that directly leads to greater profitability and growth.
Resource optimization works to make sure every team member is operating at their optimal capacity. Doing this will mean that your team is not only efficient today, but will keep working their best at any size. Managers can be assured that when the time comes to hire more employees, it will be because they are truly needed and not because existing employees are being underutilized.
With Mavenlink, You Will Always Have What It Takes.
The Mavenlink Industry Cloud for Professional Services™ arms professional services businesses with the clarity, control, and confidence they need to scale their organization. With tools that provide all core operational functionality, multiple estimate scenario planning capabilities, 70+ built-in Insights reports, and a Master Planning solution, Mavenlink immediately sets you on the path for growth. Explore new possibilities today.