In today’s digital economy, there is immense pressure on professional services firms to do more with less. These firms face not only new price pressures but also a variety of competitive threats that didn’t previously exist. Agile new entrants, backed by technology driven service models, are changing how the industry sells – and delivers – professional services. This, in turn, means a need to adopt new approaches, or face the prospect of declining revenues.
To help professional services firms to digitally transform, CRM is commonly deployed. This allows firms to become more efficient in promoting and delivering their services. Not only that, but digitisation can help firms to drive major efficiency improvements through automation. This in turn helps to support new ways of driving revenues – without adding administrative headcount – or expanding an already expensive and hard to recruit talent pool.
A well-planned CRM can therefore become an important strategic tool for professional services firms as they identify future avenues of growth and areas where it makes sense to invest.