Selecting the right cloud platform and ecosystem improves transparency, performance and profit for professional services organizations.
Professional services organizations (PSOs) have added more technology solutions to support their clients and projects, with some managing tens if not hundreds of disparate cloud applications. In many businesses, each function built out its own tech stack with a variety of applications – making it complex, and sometimes near impossible, for data to be standardized and shared transparently across the organization. PSOs now have begun to shift their strategies to center and standardize their tech around one cloud platform for a cohesive and easy-to-manage ecosystem.
Here’s why: Real-time information has taken center stage as PSOs look to increase productivity, grow more rapidly and achieve higher levels of profitability. Increased visibility helps leadership determine improvement priorities, all while balancing the needs of clients and employees. Leaders are more dependent than ever on real-time, accurate and cross-functional data to provide insights for competitive advantage.
Service Performance Insight Research recently analyzed how PSOs, with their need for greater mobility and real-time information, have turned to the Google platform and VOGSY PSA to optimize their organizations in its white paper, “Why ecosystems matter for professional services organizations.”
“The net effect of PSA is a more productive and profitable business, as well as improved levels of predictability and client satisfaction,” reports SPI.
Here are some of the highlights:
All PSOs are being asked to quantify the benefits of their work. The primary mode of work for PSOs is now based on virtual project teams who rapidly come together to produce measurable business outcomes. If businesses can standardize their approach to resource management and project delivery, they can reduce overruns and improve quality, enhancing the value realized.
Breaking silos matters.
Silos within businesses can bring a business down – and that’s what happens when businesses use a variety of applications that can’t speak to each other. The new name of the game is to choose one cloud platform to standardize an organization’s tech stack. Leading platforms, such as Amazon, Microsoft Azure and Google, each have their own partner ecosystems of apps. Businesses can access all the tools they need with less worry about management and integration support. Leading PSOs are turning to Google in particular for its global market dominance, scale, security and low cost.
Platforms enable app developers to focus on their core areas of expertise, rather than building the underlying architecture to support their work. It is much easier for developers to build on top of an existing, standardized infrastructure. They can focus on building functionality to support specific industries and domains, which benefits users.
Growth, globalization, competition and regulatory pressure have been a catalyst to force PSOs to make better use of technology. At the same time, many PSOs have shifted how they approach project management, transitioning from a waterfall to agile approach. This requires instantaneous communication and collaboration between team members. Many firms are drawn to the tangible benefits of PSA solutions: improvements in billable utilization, decreased revenue leakage and the like. In truth, though, SPI found it’s the increased visibility that lets teams better analyze their business and make smarter decisions for better outcomes.
Fortunately for PSO executives, the tools available today are better than ever. All you need is the education and understanding to choose the best-fitting solutions for your team.
Interested in learning more about how you can improve business outcomes across your organization? Download our white paper, “Why ecosystems matter for professional services organizations,” today, or watch the webinar.