Professional services organizations to are stronger than ever before, thanks to the increased use of business software applications. According to SPI’s 2022 Professional Services Maturity Benchmark report, firms are averaging over 15 percent net profit. Our goal at HSO ProServ is to help firms like yours improve their results—from finding new business to tracking projects—by leveraging technology.
One way we can help is through education. That’s why we are hosting a three-part webinar series that discusses strategies professional services firms can use to drive better results for their clients, staff, and the bottom line. Andy Yeomans, HSO ProServ’s Executive Vice President of Sales, and Patrick Connally, National Industry Director – U.S. Professional Services at Microsoft, will present at the following events:
Session 1: Find and Win More Work
With the extremely competitive landscape of professional services, it’s not as easy as all that to identify potential projects – and win them. Add to that the lengthy, complicated sales cycles, and it becomes challenging to develop a healthy project pipeline.
However, there are solid strategies for finding new opportunities and improving win rates. Those strategies, supported by the right technology, can help you leverage existing relationships to find new work, capitalize on pursuit intelligence to increase bid-to-win rates, and use opportunity strength indicators to develop better pursuit strategies.
In Session 1, Patrick and Andy will dive into finding and winning more business, including how to:
Put the firm’s relationships to work to unearth new opportunities and increase win rates
Leverage experience and qualifications across the firm to create winning proposals
Put pursuit intelligence tools to work to make more effective pursuit decisions and increase the bid-to-win ratio
Get a 360-degree view of clients, relationships, pursuits, and experience
Once you’ve won a project, your next goals are to deliver the best possible outcome for your clients and maximize your revenue from that project. To do so, you must optimize project plans and resource allocations and monitor project profitability in real time throughout the project delivery cycle.
According to SPI’s 2022 Professional Services Maturity Benchmark Report, firms that adopted a professional services automation solution saw an 11 percent increase in billable utilization. In Session 2, Patrick and Andy will address optimizing project profitability, including:
Developing more accurate project estimates that get projects started off right
Effectively planning and managing resources to drive on-time delivery
Putting project controls back into the hands of project managers
Leveraging real-time insights to drive better utilization and project margins
Accurate time tracking and billing are critical to running a successful professional services business. However, these tasks are time consuming, with manual steps that often lead to errors. It’s common for project managers or finance staff to have to find employees to gain insight into their hours, which delays billing and takes staff away from more important pursuits.
By automating these processes, firms can significantly improve accuracy and timeliness while reducing frustration. By optimizing time tracking and billing, you charge the right amount, and your firm gets paid faster, which supports revenue growth. According to that SPI benchmark study, productivity improvements have impacted a firm’s bottom line, with project margins climbing 12 percent in 2021.
In Session 3, Patrick and Andy will address a range of topics around time tracking and billing, including:
Streamlining time and expense capture as well as approval processes
Improving time sheet accuracy and taking the frustration out of chasing down missing time sheets
Automating review and approval of client invoices prior to sending
Join us to learn more about driving better results for your professional services firm
The goal of driving better results never stops, but HSO can help. Our years of industry experience and a longstanding partnership with Microsoft positions us to help professional services firms tackle any challenge, big or small.
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