More than one-third of professional services firms now expect that 75% or more of their revenue will come from digital within the next three years. Industry experts from PwC and Workday recently partnered to explain what this means for the industry’s future.
In the professional services industry, technology has accelerated the pace of change and enabled faster, more flexible service delivery. Client needs and expectations are also evolving at a rapid speed. It’s crucial that now, more than ever, firms adapt their processes and operations to support a more digitized business model. Otherwise, experts predict that by 2025, firms that cling to old ways of working will likely have fallen by the wayside.
So, how can firms better equip themselves for the future? By investing in their people, technology, and data. Organizations that do this will be better positioned to design innovative solutions and deliver measurable outcomes faster and more efficiently.
However, this is no easy feat. Here are the five imperatives for businesses to consider when going digital:
Digital transformation should be unified across all business functions.
Data is king and should influence and inform decision-making.
Planning is paramount, and predictability drives business forward.
Optimizing skills and talent is mandatory.
A human-centered strategy balances digitization.
To better understand the importance of these imperatives and how to proactively incorporate them into digital transformation, be sure to check out our latest white paper developed in partnership with PwC, "The Future of Professional Services Firms: A View From 2025".
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