A diverse group of sectors, the professional services industry intersects with many other industries, across accounting, architecture, engineering and law.
Essentially comprising all those businesses that provide a service to other businesses, the sector also spans franchising, management services and the creative economy.
Professional services grow when domestic and global economies grow and demand for various professional business services increases. In line with rosier general economic conditions, economists regard the outlook for businesses in the professional services sectors as positive. Encouragingly, employment in these sectors last year grew at 106% compared to around 1.4% for the total economy.
Still, most industries in these sectors are experiencing challenges involved with embracing technological change and so-called disruptive innovation. Service industries are not immune to the advances in automation, with even the legal industry seeing the introduction of ‘divorce robot lawyers’ recently.
To help professional services businesses to effectively negotiate change and improve productivity and profitability, our consultants review business policies and procedures to devise strategies for cost-cutting and advise on restructuring options. .
We devise negotiation and mediation strategic plans, conduct tenders, negotiate/engage service providers, review the use of information assets, and create employee incentive and bonus structures.
We assist professional services firms in many industries with strategy and advise on how to move into different business models to drive cultural change, innovation, productivity and profitability. Harness our experience in Mergers & Acquisitions and our proven skills in ‘recession proofing’ businesses to ensure your business grows.