Change in an Industry with Opposing Trends – 2019 Professional Services Benchmark
Summary
On the one hand, professional services firms are seeing a wholescale shift in their employee demographic as the baby boomers in their workforce retire, to be replaced by millennials. " On the other hand, SPI sees professional services business models becoming increasingly complex. As buyers of services have striven to transfer risk, they have forced firms to come up with innovative contractual models to remain competitive. The past decade has shown a steady decrease in simple time and materials projects in favor of fixed fee, subscription-based, or managed services contracts. With these two competing needs—increased simplicity expected by a changing workforce set against increased complexity and flexibility demanded by the business— professional services firms need to choose their business systems carefully, especially their Professional Services Automation (PSA) software.
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