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- Oct 30, 2020
- 6 min
Being future-ready means being cloud-ready for Professional Services Firms
By Sebastian Hartmann & Ashish Madan. Many professional services firms had to expand and improve their virtual collaboration, operations, sales, and digital service delivery environments drastically over the past years. The global pandemic these past months has even further accelerated the digital transformation of legal, consulting, tax and accounting. This change of pace, in terms of technology implementation and adoption, is unprecedented for an industry where on-site serv
By Sebastian Hartmann and Stephan Kaufmann
- Jun 18, 2020
- 10 min
Cost Levers along the Next Gen Value Chain of Professional Services
The cost pressure is on for professional services. Shifting client demands, declining prices, new technologies, and an emerging set of fierce competitors are taking a toll on law, consulting, tax, and accounting firms. Especially in times of crisis, cash is king. Once the topline deteriorates, outlasting the competition requires superior cost management. COVID19 is surfacing which firms have successfully adjusted their business and operating models and will be able to cope wi
By Lina Krawietz
- Apr 22, 2020
- 10 min
Best Practices for Virtual Design Thinking Workshops in Professional Services
Due to COVID-19, professional services are currently facing unprecedented challenges. In view of this unique situation, it would be irresponsible for them to base their actions solely on their given knowledge and experience. If anything, it has become crucial to now develop a completely new understanding of clients’ acute needs and how to provide value accordingly. Design Thinking – arguably the world’s best-known innovation approach – offers a powerful framework for dealing
By Lina Krawietz and Sebastian Hartmann
- Apr 9, 2020
- 7 min
The Benefits of Virtual Design Thinking Workshops
As a framework for solving complex problems, Design Thinking takes on a whole new meaning, in times of Corona, when practically everyone needs to adapt to uncertain, rapidly changing external conditions within a matter of moments. With the drastic COVID-19 pandemic countermeasures taken around the globe, businesses are faced with a series of major challenges: Production and sales facilities have been closed down. Workflows need to be managed remotely, wherever possible. Produ
By Sebastian Hartmann
- Mar 17, 2020
- 5 min
The COVID-19 aftermath for Professional Services: Three Hypotheses
As the world is bracing itself for the impact of COVID-19 on our nations, economies, companies as well as individuals and societies, professional services firms (PSFs) are both positively and negatively impacted at once: Navigating the regulatory, ethical and legal responsibilities of this pandemic drives business for many law firms, accounting, assurance and consulting service providers as well as technology advisors and providers alike. However, this additional work does no
By Sebastian Hartmann
- Mar 10, 2020
- 4 min
Managing for Outcome: Rethinking Value Chains in Professional Services
The world of professional services has begun to change dramatically over the past decade - and many of those changes bear strong commonalities across lawyers, consultants, accountants, marketing or technology experts. Aside from the fact that accountants or tax advisors are leading the charts about jobs endangered by robots and artificial intelligence (but are still far from disappearing), we can observe that in general, the traditional knowledge advantage of the professions
By Sebastian Hartmann
- Jan 10, 2020
- 5 min
Next Generation Rainmakers in Professional Service Firms: Solution Managers (aka Product Managers)
Is your consulting, accounting, tax or law firm looking for the next growth curve? Is the path to partner status in your organization strongly defined by growing personal revenue numbers? Then you should rethink where future growth may be coming from: Because the rockstars and rainmakers in next generation professional services may be what any other industry would call „Product Managers” these days. Professional Service Firms (PSFs) are beginning to realize that their competi
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