In a tougher market, professional services firms will need to be agile, responding more quickly to new opportunities and threats. Firms may also need to expand in some markets and scale back in others.
Threats to professional services firms are real. Market entrants are blossoming, challenging the incumbent players, and innovative technologies are disrupting the market. Finally, regulatory and talent-management challenges won’t simply go away. Firms that get ahead of the curve and prepare themselves for the challenges ahead will be better placed to retain market share and drive profitability.
firms globally are currently losing business to boutique providers
of COOs say providing more value at the same cost is one of the biggest challenges
globally are losing business to commoditized solution providers